Old Mutual Wealth to Handle Cash Reserves of Rand-Backed Stablecoin ZARP

Financial Services Giant Old Mutual Wealth is appointed to management the reserved notes that again ZARP, the crypto stablecoin pinned to the value of the South African Rand. The appointment of Old Mutual will enable ZARP to spout the status of one of the nation’s oldest and most trusted establishments. ZARP additionally stated the transfer … Read more

Canaan Adds 180 BTC to Reserves, Posting Better Than Expected Figures

China-based tech agency Canaan has boosted its Bitcoin holdings by 180 to a complete of 346 BTC regardless of the market downturn. The agency, which makes cryptocurrency mining gear, reported gross sales of 1.65 billion yuan (round $238 million), a year-over-year development of 52.8%.  At the identical time, the corporate’s web revenue reached 608.9 million yuan … Read more

Tether Hits out at WSJ, Accuses Publication of Having an Agenda Regarding Company Reserves

Tether alleges that the Wall Street Journal has unfold false data about its reserve composition and business profitability. In a press release issued on Aug. 30, 2022, Tether accused the Wall Street Journal of selecting to focus on Tether and hurt its popularity via unsubstantiated claims. The assertion claims the WSJ’s criticism of Tether’s use … Read more

Lille banish striker Mohamed Bayo to reserves and fine him £65k after he went clubbing night before 7-1 thrashing by PSG

LILLE summer season signing Mohamed Bayo has been banished from their first-team squad due to disciplinary causes. The 24-year-old performed no half in Sunday’s 7-1 defeat towards Paris Saint-Germain on the Stade Pierre-Mauroy after an image of him clubbing the night before emerged. 2 Lille striker Mohamed Bayo was seen clubbing before their 7-1 defeat … Read more

BendDAO in Trouble, Ethereum Reserves Drained

BendDAO – a lending protocol for non-fungible tokens (NFTs) – is the latest undertaking to have been hit with an insolvency disaster. The five-month-old platform has reportedly run out of ETH over the weekend. According to the researcher, NFTStatistics.eth, BendDAO is simply left with 12.5 WETH in the contract. The lenders of BendDAO have landed … Read more

Tether Hires New Auditor BDO Italia For Monthly USDT Reserves Report

Leading stablecoin issuer Tether has employed accounting agency BDO Italia to interchange Cayman Islands agency MHA Cayman in overseeing its attestation reviews for USDT reserves.  The USDT issuer said it plans to launch its attestation reviews each month, changing the earlier quarterly reporting association.  Tether Hires Major European Auditor Founded in 1965, BDO Italia is … Read more

MakerDAO Co-Founder Proposes Dumping $3.5 Billion USDC Reserves for ETH

MakerDAO co-founder Rune Christensen just lately proposed eradicating all USDC from the DAI stablecoin’s peg-stability module. He steered that the USDC inside, price $3.5 billion, may very well be used to purchase ETH as a substitute.  Yet regardless of what such a conversion may do to spice up ETH’s value, Vitalik Buterin stated it was … Read more

Tether Hits Back at Critics; Clarifies Once Again That It Holds No Chinese CP as Reserves

Stablecoin issuer Tether took to Twitter on July 27 to make clear that it holds no Chinese business paper (CP) on the again of trade rumors that proceed to assert its portfolio within the vertical is backed by 85% Chinese or Asian business papers. The stablecoin issuer said, “Tether’s portfolio holds no Chinese business paper … Read more

USDC Issuer Circle Discloses Its Reserves, Proving Their Liquidity And Availability

After the collapse of the Terra ecosystem (which included its native token LUNA and its algorithmic stablecoin UST), the crypto group started to turn out to be extra cautious about stablecoins, pushing massive initiatives resembling Tether’s USDT and Circle’s USD Coin (USDC) to be extra clear about their finances. On July 14, Circle Internet Financial … Read more

Circle Taps New York Community Bank as its Latest Custodian for USDC Reserves

Circle has tapped a New York state-based neighborhood financial institution as its latest custodial supplier for USDC reserves. The transfer displays Circle’s technique to deepen partnerships with Community Banks throughout the U.S., making an attempt to make funds extra inclusive to underserved communities. Under the brand new settlement, New York Community Bancorp’s financial institution subsidiary, … Read more