• Tether has announced that it will use a portion of its profits to buy Bitcoin in an effort to shore up its stablecoin reserves.
• Embattled crypto lending firm Celsius is removing its stash of staked ETH (stETH) tokens from the liquid staking platform Lido.
• Litecoin has suddenly awakened, putting on nearly 20% in 4 days.
Tether Buys Bitcoin
USDT-issuer Tether has announced that it will use a portion of its profits and purchase Bitcoin in an effort to shore up its stablecoin reserves.
Celsius Removes StETH Tokens
Embattled crypto lending firm Celsius is wasting no time in removing its stash of staked ETH (stETH) tokens from the liquid staking platform Lido.
Litecoin Awakens
Touted as digital silver to Bitcoin’s gold, Litecoin has suddenly awakened, putting on nearly 20% in 4 days.
Ledger Under Criticism
Ledger has come under stinging criticism from its community over its latest seed phrase recovery idea, with members taking to social media to voice their disapproval.
Noteworthy Events
DeFi Premier decentralized exchange platform Uniswap is set to launch on Polkadot’s Moonbeam parachain, with the integrations tabled through its decentralized governance platform. DeFi platform Yield App has formed strategic ties with emerging fintech firm Volt to enhance access and revolutionize crypto engagement. Britain’s most valuable fintech company, Revolut, could face disappointment as the Bank of England plans to reject its application for a banking license. Hong Kong-based Hashkey Group, a prominent player in the cryptocurrency investment landscape, is embarking on an ambitious funding drive for a valuation of $1 billion. Bankrupt crypto exchange FTX and its sister entity Alameda Research have sued their former executives Sam Bankman-Fried, Gary Wang, and Nishad Singh. The third iteration of the Voyager bankruptcy plan has finally been approved by the court while India’s cryptocurrency industry petitions the government and RBI for restored access to UPI for cryptocurrency-related services and activities. Ripple has acquired one of the most well-known crypto custodians Metaco for $250 million while BlockFi plans to liquidate its crypto lending platform to pay back creditors. Gibraltar-based Xapo Bank is forging ahead with expanding support for different types of digital assets while OpenAI CEO Sam Altman’s Worldcoin project reportedly secured $100 million in fresh funding