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🚀 Tether: From Criticism to Success 📈
Tether, the issuer of the most popular stablecoin USDT, has undergone a dramatic image transformation in recent years. According to a Bloomberg report, the company has been posting record-breaking profits and expanding its influence beyond crypto by investing in AI, biotech, and media projects. In 2024, Tether reported a $13 billion profit, with total assets reaching $157.6 billion.
Previously, Tether faced heavy criticism over the legitimacy of its reserves and the alleged use of USDT in illicit activities. However, with a shifting political landscape in the U.S. and support from organizations like Cantor Fitzgerald Bank, the company is becoming increasingly influential.
Dragonfly Capital's general partner, Rob Hadick, highlighted Tether’s high per-employee profitability and the growing focus on its investment strategies. 0 reply
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📈 Cryptocurrency week: Bitcoin under pressure, but there are chances for growth 🚀
From February 3 to 9, experts predict volatility in the bitcoin (BTC) exchange rate, which traded around $99,000 in early February with a 5% drop for the week. The main factors affecting the market are: the US President's statement on OPEC+ and diplomatic disagreements, as well as the impact of new tariffs on imports.
Technical analysis shows that for bitcoin's recovery and growth it is important to hold the level of $105,500. If this level is overcome, the exchange rate could rise to $107,250 and further above $110,000. The key events in the coming week will be the publication of business activity indices and employment data, which could significantly affect risk assets.
Bitcoin continues to remain in the spotlight despite short-term fluctuations. Investors are hoping for an improvement, especially against the backdrop of positive news and institutional investment 0 reply
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🌟 Crypto Market Weekly Recap🌟
This week, Bitcoin surged past $105K 🚀, while mining difficulty dropped for the first time since September. Meanwhile, Kazakhstan’s President Kassym-Jomart Tokayev called for urgent expansion of the country's crypto infrastructure, emphasizing the need for proper regulations.
AI tokens took a hit, plunging 22% in a day 📉, reportedly due to activity from a Chinese neural network. At the same time, KuCoin agreed to pay a $300M fine and will halt operations in the U.S. for two years.
In Europe, ECB President Christine Lagarde reaffirmed that Bitcoin won’t be included in EU central bank reserves due to money laundering risks. On the other side of the world, Russia's Far East discussed allocating electricity for mining ⚡, while Trump announced the launch of a financial division investing in crypto.
The crypto space never sleeps! 🌎💰 0 reply
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📢 Binance Labs venture fund has been rebranded as YZi Labs! 🚀 The former investment arm of the largest crypto exchange will now focus on developing Web3, artificial intelligence, and biotechnology. 🌐🧬 Changpeng Zhao, the former head of Binance, will play an active role in potential investments and mentorship activities. ✨
Ella Zhang, returning from her previous role, will lead the new fund, now positioned as a family investment project. 💰 YZi Labs has an ambitious investment strategy that spans three main areas — Web3, AI, and biotechnology. 🌟
The rebranding came after Binance Labs separated from its parent company in March 2024 to become independent. 🔗 Interestingly, Zhao's fortune is estimated at $69.8 billion, placing him 22nd on Bloomberg's billionaire list. 💎 0 reply
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