💸USDT Backed 58.1% By US Treasury - TWJ #242
The largest stablecoin is continuing to push for transparency.
In today’s issue:
The crypto market is flat with its total market cap above ~$900 billion. Elrond (EGLD) has been the best performer in the top 100 in the past 24-h. Rumors are circulating about Credit Suisse’s bad financial condition.
In other news, Tether USDT reserves update, Coinbase suffers outage with US bank accounts, and DeFiance capital seeks $100M.
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- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆Tether USDT Reserves Update
Tether reported that US Treasury bills now account for 58.1% of the USDT reserves.
As of September 30, it reduced its commercial paper holdings to less than $50 million, Ardoino tweeted. Tether's U.S. Treasury bill holdings are up over 14% from June 30 to last Friday.
⎆Coinbase Suffers Outage With US Bank Accounts
Coinbase experienced outages with US bank accounts with customers not being able to conduct transactions.
“We are currently unable to take payments or make withdrawals involving US bank accounts,” the company said on its status site. “Our team is aware of this issue and is working on getting everything back to normal as soon as possible.”
The company said it’s readying a fix, and identified the issue as a problem with “ACH withdrawals, deposits, and buys failures.” ACH, or the Automated Clearing House Network, is a system used for transferring funds electronically in the U.S. between bank accounts.
⎆DeFiance Capital Seeks $100M
Singapore-based DeFiance capital led by prominent investor Arthur Cehong is reportedly seeking $100M for a new liquid token fund. DeFiance was previously hurt by the 3AC bankruptcy and has distanced itself from 3AC.
DeFiance Capital was founded in 2020 by Arthur Cheong, and the firm once described itself as a “sub-fund and share class of Three Arrows Capital.” After 3AC got into financial trouble in June, DeFiance Capital said in July that it is a separate firm from 3AC and operates independently.
👨🏻💻Decentralized Finance (DeFi)
Solana Network is Experiencing an Outage
Nightshade is Live on NEAR's Mainnet
Transit Finance Exploit
Raydium Launches the Open Beta for Concentrated Liquidity Pools
Vyper Vaults is Live on Mainnet
Nexo-labeled Address Withdraws $153M in Wrapped BTC from MakerDAO
Transit Swap ‘Hacker’ Returns 70% of $23M in Stolen Funds
Terra’s Luna Classic Gains Big as Binance Burns Untold Tokens
Maple Finance Aims to Be the Shopify of Crypto Lending
🏛Governance - Active Proposals
Compound - Increase Compound III Supply Caps
Sushi - Sushi Head Chef Election - Final Vote [Implementation]
🦮NFT & Metaverse
Introducing Waterfall
Beleaguered NFT Traders Can Now Relive Mania With Fantasy League Game
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Juno - $18M Series A
⚖️Regulatory Update
SEC Must Turn Over Emails About Ethereum
CFTC Charges Digitex Founder With Running Illegal Crypto Derivatives Platform
Celsius Shouldn't Reopen Custody Withdrawals, US Trustee Says
📚Noteworthy Reads
Spencer Noon’s Thread on Sudoswap
A16z’s Read on All Things Zero Knowledge
Ann’s Read on Recent Crypto Ideas Worth Exploring
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