Tether, the company known for its stablecoin USDT, has been on a gold-buying spree. In a short span of three months, it acquired 26 tonnes of gold. Now, its total gold holdings stand at approximately 116 tonnes, making it a significant player in the gold market. But not everyone is cheering this move. S&P Global, a major credit rating agency, recently downgraded USD...
FG Nexus, a company that invests in Ethereum, just sold off a big chunk of its crypto holdings. They unloaded about $31 million worth of Ethereum, which is roughly 10, 922 ETH. This move came as their stock was taking a hit, dropping more than 7% in a single day. The company's stock has been on a downward spiral, losing nearly 37% of its value in just one month. Ove...
Peter Schiff, a well-known economist, has raised concerns about companies that hold Bitcoin or Ethereum as part of their treasury strategy. He argues that these companies lack a solid business model. Schiff points out that companies like Strategy rely heavily on Bitcoin. They do not generate much profit. Instead, they take on more debt or issue new shares to buy mor...
The U. S. Treasury Secretary, Scott Bessent, recently shared his thoughts on the Federal Reserve's approach to managing interest rates. He believes the current system is too complex and needs a major overhaul. According to Bessent, the Fed's strategy for controlling interest rates has become overly complicated and is showing signs of strain. The Fed's approach invol...
Ondo Finance just made a bold move, buying $25 million worth of YLDS, a stablecoin from Figure Technology Solutions. This isn't just any purchase; it's a strategic step to make Ondo's tokenized fund more diverse and appealing. The YLDS stablecoin is now part of a bigger portfolio that already includes tokenized Treasury products from big names like BlackRock, Fideli...
Inno Holdings, a Texas-based company, saw its stock price surge and then plummet in a single day after announcing a new partnership. The firm teamed up with Megabyte Solutions to integrate Web 3. 0 technology into its business-to-business platform. This move shifts Inno Holdings away from its traditional construction technology focus. The partnership aims to make tr...
In a surprising turn of events, Qube Holdings, a major player in the logistics industry, has caught the attention of Macquarie Asset Management. The investment giant has put forward a proposal to take over Qube, valuing the company at a whopping AU$11. 6 billion. This isn't Macquarie's first attempt, though. They've been in talks with Qube before, but this time, they...
The Trump family's fortune took a hit due to the recent crypto market downturn. Their investments in digital currencies have not been as profitable as they hoped. The value of a memecoin linked to Trump's brand has dropped by about 25% since August. Eric Trump's investment in a Bitcoin mining project has lost about half its value from its peak. Additionally, shares o...
Blue Owl Capital is thinking about bringing back a plan to combine two of its private credit funds. This comes after they had to stop a similar plan last week because investors weren't happy. The main reason for the merge is to give shareholders a way out and cut costs. But, it's not a done deal yet. The idea is to merge the larger fund, OBDC, with Blue Owl Capital ...
Bitcoin has hit a rough patch, dropping to its lowest point in seven months. It's now hovering just above the $80, 553 mark, a level that has some experts worried about even bigger losses ahead. This isn't just a one-day dip; Bitcoin has lost 12% of its value this week alone. Earlier this year, it was soaring to new heights, reaching a record high above $120, 000 in ...