Tether releases USDT reserves report
In the second quarter of 2023, Tether Holdings Limited, the publisher of the USDT stablecoin, posted an impressive $850 million in profits. This financial feat allowed them to expand their excess financial reserves to an astounding $3.3 billion. This development is particularly noteworthy in the context of the New York State Attorney General's 2021 deal. Under the terms of this agreement, the company undertook to regularly, every quarter, publish information on the state of its reserves for two years.
Binance Increases Lightning Network Channels
The number of open channels on Binance has expanded dramatically, increasing from the original 7 to the current 33, and their collective throughput has increased from 36 BTC to 77.73 BTC. In the context of the entire Lightning Network, which has a total bandwidth of 4859.37 BTC, Binance holds the 13th place in the ranking of network nodes. Meanwhile, FixedFloat is not far behind and takes the 16th position in the same ranking.
Solo miner earned $160,000
On August 19, a lone miner successfully mined block #803,821 on the Bitcoin network and received a reward of 6.31 BTC including fees. He used the services of the Solo CK pool. Taking into account all the fees and the exchange rate at the time of mining, his income was approximately $161,000. The miner has already sent coins to various wallets.
Con Kolivas, Solo CK platform manager, congratulated the miner and shared that the total power of his mining equipment is about 1 PH, which is far behind the power used by large mining operations, which are measured in EH. Kolivas also noted that with the current network difficulty of 52.39 T, a miner with a similar power can, on average, mine a block only once every seven years.
Coinbase buys minority stake in Circle Internet Financial
Coinbase, one of the popular cryptocurrency exchanges, has acquired a stake in Circle Internet Financial in the context of "expanding support for stablecoins." Under the terms of the deal, the bilateral consortium Center, which previously managed the issuance of the USDC stablecoin, will be discontinued. Circle will now be solely responsible for issuing USDC. Both parties to the deal agreed to an equal share of the interest earned on USDC reserves.
In terms of expanding the scope of the stablecoin, USDC will appear on six new blockchain platforms in the coming months. Although specific blockchains are not specified, information has previously appeared about the company's desire to implement its technology in Polkadot, Near, Optimism and Cosmos.
Tether froze 1,286,950 USDT, Circle blocked 1,097,361 USDC
This week, Tether froze an address with 1,286,950 USDT, while Circle blocked 1,097,361 USDC. USDT and USDC are fully centralized digital currencies, which means that their issuers can, if necessary, freeze assets on individual wallets at the request of law enforcement agencies.
Solana Pay integrated into the Shopify marketplace
Solana Pay has been successfully implemented into the Shopify ecosystem. This opens the door for the millions of businesses using this trading platform to be able to accept crypto payments. Launched in February 2022, Solana Pay is implemented on Solana's first layer blockchain technology. As part of this new integration, USDC will act as the payment option for this integration. There are also plans to expand and add SOL and BONK.
Dogecoin millionaire's fortune went from $3 million to $50,000
The Dogecoin fanatic took a risk in 2020 and invested all the accumulated $250,000 in Dogecoin. At the peak of interest in DOGE, his portfolio was valued at a dizzying $3 million. But instead of taking profits and selling coins, he decided to hold on to them, expecting further growth.
By May 2021, the value of Dogecoin had fallen by a staggering 91%, reducing investor capital to a modest $50,000. Despite this setback, he remains unshakable in his belief in the potential of DOGE, arguing that its rate will show growth more than once.