• Tether Holdings Ltd is expected to make $700 million in Q1 profit.
• USDC and BUSD have suffered misfortunes, allowing Tether to take advantage of the situation.
• The company keeps its reserves backed by short-dated US Treasury Bills held in trust by Cantor Fitzgerald.

Tether Expecting Profits

Tether Holdings Ltd, the blockchain fintech firm in charge of the issuance of USDT, is set to rake in a profit of $700 million for the first quarter of this year. This was confirmed in an interview by Tether’s Chief Technical Officer Paolo Ardoino. The total number of USDT in circulation topped $78 billion and has seen an 18% increase since the start of the year-to-date period.

Misfortune of Rivals

The misfortunes of two rivals, USDC and Paxos’s BUSD have contributed to these profits for Tether. USDC lost its peg earlier this month due to deep exposure to Silicon Valley Bank (SVB) which collapsed recently. Meanwhile, Paxos has been asked by New York Department of Financial Services (NYDFS) to stop issuing BUSD as it was sold as an unregistered security.

Reserves Backed By US Treasury Bills

In order to ensure their reserves are reliable, Tether now keeps hold of short-dated US Treasury Bills held in trust by Cantor Fitzgerald and looked after by Bahamia lenders Deltec Bank & Trust Ltd. and Capital Union Bank according to Ardoino.

SEC Scare

Although USDT is a stablecoin, it can still be volatile as it responds well FUDs (Fear Uncertainty Doubt). This could be further compounded should the SEC interfere with their operations as they did with Paxos’ BUSD resulting in their closure temporarily.

Conclusion

Despite all these issues regarding stability, risks and SEC interference, Tether remains one of the most profitable cryptocurrency firms at present thanks largely to its current competitors’ misfortune coupled with solid reserve management practices

• Bybit exchange has recorded impressive transaction volume on its USDC in the midst of a market slump.
• The crypto firm is looking to establish new headquarters in Dubai and become one of the top crypto exchanges in MENA region.
• The exchange has seen an increase in spot volume for USDC, thanks to its robust trading engine and liquidity.

Bybit Hits New Trading Milestone

Bybit exchange has recorded massive transaction volume on its USD Coin (USDC) amid the market rout, with the contribution of USDC to spot volume jumping from 8% to more than 40%. This remarkable achievement has solidified Bybit’s lead as one of the top crypto exchanges in the Middle East and North Africa (MENA) region, prompting it to set up new headquarters in Dubai.

Reliable Trading Engine & Robust Liquidity

The success of Bybit can be attributed to its reliable trading engine and robust liquidity that have helped it meet customers‘ obligations and requests. On its perpetual market, the daily trading volume for USDC/USDT pair hit $380 million with annualized funding rate reaching up to 740%. Additionally, Bybit’s transparent operations have also played an integral role in boosting users’ confidence in their offerings and the broader crypto ecosystem.

Diverse Offerings For All Categories Of Investors

The digital currency exchange was able to design a system that is usable and useful for trust traders, institutions, and all categories of investors alike. From launching a secure self-custodial wallet for Web3 applications access, to introducing a debit card which is set to go live anytime soon – Bybit focuses on providing maximal customer satisfaction by delivering what they need most.

Proof-of-Reserve (PoR)

When FTX Derivatives Exchange collapsed back in November 2020, many were ready to give up hope but exchanges like Bybit started publishing their Proof-of-Reserve (PoR). This move successfully restored faith into their offerings as well as into the cryptocurrency industry at large.

Focus On Customer Needs

At Bybit, customer needs are always put first when building products or launching services; this includes using feedback gathered from customers via surveys or direct conversations with them regarding what they want most out of their experience while using Bybit’s platform.

• Binance has recently announced that the Polygon Network is now supported by its NFT marketplace.
• This integration allows users to buy, deposit and withdraw NFTs from the network on the Binance platform.
• With this new integration, users can now explore and trade a wider variety of NFTS across multiple blockchains.

Binance Announces Integration of Polygon Network

Binance has officially made an announcement revealing that the Polygon network is now supported by its Non-Fungible Token (NFT) marketplace. This integration will allow users to purchase, withdraw and deposit NFTs from the Polygon network on the Binance platform.

Key Benefits for Users

The addition of the Polygon Network creates a multi-chain open marketplace ecosystem where users are able to explore and trade a larger variety of NFTs across multiple blockchains such as BNB Smart Chain (BSC), Ethereum (ETH) network, and Polygon (MATIC) network directly from their Binance accounts. Furthermore, at present only selected ERC-722 NFTs listed on the Polygon Network are available on the Binance NFT Marketplace but they plan to integrate more collections in future updates.

Polygons Recent Milestones

The blockchain network has hit a new milestone after being integrated with one of leading crypto exchanges – Binance. In addition to this recent development, polygon has also attained several partnerships in preparation for upcoming projects within their ecosystem.

Significance of Integration

The integration with Binance’s platform provides users access to a much broader selection of digital assets than before which offers them more freedom when trading or exploring . Furthermore this move signals polygon’s growth within the blockchain industry as it continues to gain traction from major companies like binance who recognize its potential .

Conclusion

In conclusion , it is clear that integrating with polygon offers many benefits for both user experience and accessibility when navigating through different digital asset platforms like binance . As such we should expect further integrations between other major companies in future updates .

• Elon Musk recently tweeted about Dogecoin and Shiba Inu, causing a 6.6% and 2.5% rise in their prices respectively.
• A study conducted by the Blockchain Research Lab concluded that there is an average of 3 percent increase in price after each of Musk’s tweets.
• Twitter has also released a new feature to help users receive more context on posts they Retweet, like or reply to.

Elon Musk’s Tweet About Dogecoin

Twitter CEO Elon Musk recently sent out a tweet that caused the price of meme-cryptocurrency Dogecoin (Doge) to surge by 6.6 percent, with Shiba Inu rising by 2.5 percent as well. The tweet contained an image with the caption “It was me, I let the doges out”, and followed it up with “Fact check me @CommunityNotes”.

Effect Of Elon Musk’s Tweet On Crypto Prices

According to a study conducted by Blockchain Research Lab on the effect of Elon Musk’s moves on cryptocurrency prices, there is an average of 3 percent increase in price after each of his tweets. This could be due to investors speculating about his tweets and reacting accordingly.

New Feature Introduced On Twitter

In addition, Twitter has announced its new feature which gives users extra context when they Retweet, Like or Reply to posts on its platform. This could possibly explain why Shiba Inu also experienced a minor surge in price due to Musk’s mention of „dogs“ in his tweet as well as seeking feedback from Community Notes Twitter account for fact-checking purposes.

24 Hour Price Of Dogecoin

The 24-hour move of Dogecoin has been within the ranges of $0.0832 and $0.0872 according to its 24-hour data chart; however it did not manage to test its key resistance level at $0.09 before recording its first retracement phase afterwards.

Conclusion

It appears that Elon Musk still holds substantial influence over crypto investors when it comes to sending out tweets related to cryptocurrencies; hence he should be wary when making such statements so as not to cause any unnecessary market instability or pump & dump scenarios amongst traders/investors alike

• The crypto bear market of 2022 has left investors looking for new projects to invest in, with TMS Network (TMSN) offering a one stop shop for all traders.
• TMS Network (TMSN) offers a range of features and services to token holders, such as access to professional grade indicators, social metrics, on-chain data and advanced trading tools.
• With opportunities for traders with all experiences, TMS Network (TMSN) is set to become a top exchange in the DeFi market while Bitcoin (BTC) faces stricter regulation leading to declining investor confidence.

Crypto Bear Market Causes Drop in Investor Sentiment

The crypto bear market of 2022 has left many investors feeling downhearted. The average cryptocurrency decreased by over 50% in price, with giants like Bitcoin (BTC) and Dogecoin (DOGE) losing over 70% of their value. As a result, investors are now looking for projects that can optimize their portfolio.

TMS Network (TMSN): A One Stop Shop for All Traders

Entering the crypto trading arena is TMS Network (TMSN), an Ethereum-based decentralized trading platform with the potential to revolutionize the trading market. Offering a one stop shop for all traders, TMS Network (TMSN) provides access to over 500 cryptocurrencies alongside stocks, forex and more – without ever leaving their accounts.

Premium Services Available To Token Holders

Token holders of TMS Network (TMSN) will have access to premium services available on tiered membership levels ranging from Beginner through Professional level. These include professional grade indicators, social metrics, on–chain data and advanced trading tools alongside dedicated customer support and premium research – creating an enhanced trading experience overall.

Building A Strong Community For New Investors

Community is at the very core of TMS Networks’ success; consisting of traders, investors and experts who can teach those new to the market about best practices and strategies used by industry veterans. This is done primarily through social trading which enables users to follow successful trades conducted by established players within the community – allowing them monetize their expertise at the same time as helping newer members learn from them too!

Stricter Government Regulation Rocks BTC Investor Confidence

Finally we look at Bitcoin’s future; where stricter government regulations have led many investors away from investing in BTC due its lack of privacy when compared against other investments like DeFi tokens which offer greater anonymity when it comes to transactions. Despite this decline in investor confidence however BTC still remains one of most valuable assets in world today!

• Kraken agrees to halt cryptocurrency staking in the US as part of a settlement with the SEC
• Notable figures like Brain Armstrong and Charles Hoskinson weigh in on the pros and cons of crypto staking
• The SEC’s enforcement could lead to cryptocurrency firms leaving the US for more friendly policies elsewhere

Kraken Reaches Settlement With SEC

Kraken, one of the leading cryptocurrency exchanges, has reached a settlement with the U.S. Securities and Exchange Commission (SEC) that requires it to shut down its bitcoin and Ethereum mining operations in the United States. This move will significantly affect customers who use Kraken’s staking services, as they will no longer be able to access these markets through staking. Both parties made their announcements regarding this development during a closed-door meeting, but neither have spoken publicly about it yet.

Notable Figures Weigh In

Cryptocurrency figures such as Brain Armstrong, CEO of Coinbase, and Charles Hoskinson have weighed in on this news by expressing both positive and negative opinions about crypto staking in the US after this settlement. Armstrong has stated that if the SEC continues with its enforcement plans, it could drive cryptocurrency firms away from America due to its lack of clear rules for crypto companies.

What Is Staking?

Staking is an important part of many cryptocurrencies‘ value proposition since it allows users to earn rewards for holding coins or tokens over a certain period of time instead of just trading them on an exchange or spending them directly. Crypto users who prefer to access markets through staking will be affected by this new arrangement between Kraken and the SEC since they won’t be able to do so anymore in America.

Impact On The Industry

The agreement between Kraken and the SEC could have a significant impact on other exchanges offering similar services if they are required to stop providing services related to staking in order to remain compliant with regulations set forth by American authorities. If other exchanges follow suit, then investors may not have access to certain types of investments that can provide higher returns than traditional investments such as stocks or bonds.

National Security Concerns

Armstrong believes that regulating financial services related to web3 is a matter of national security for any country wishing to stay ahead technologically speaking; therefore, he argues that new technologies should not be hindered or discouraged but rather encouraged so countries can take advantage of their potential benefits.

• Ordinals, a protocol to allow the minting of NFTs on the Bitcoin blockchain, is soon to launch.
• Ordinals have a specific implementation known as Ord. This allows users to track the precise location of certain satoshis and ordinal numbers that have been assigned by the Ordinal protocol.
• There has been a debate on the matter which has brought about mixed signals, with some claiming that the launch of Ordinals takes away from the original idea and goal of Bitcoin’s creation.

Ordinals, the protocol that allows the minting of NFTs on the Bitcoin blockchain, is soon to launch. This groundbreaking project has received a lot of attention from the crypto community, as it brings a new way for Bitcoin holders to use the blockchain.

At the heart of the Ordinals protocol is its specific implementation known as Ord. Ord allows users to track the precise location of certain satoshis and ordinal numbers that have been assigned by the Ordinal protocol. This allows for a variety of content to be inscribed into the Bitcoin blockchain, such as videos, images, and more. These artifacts are referred to as being of „higher standards“ due to the fact that they can’t be stored off-chain and on centralized servers with back-door keys.

However, the launch of Ordinals has received mixed signals from the Bitcoin community. Some view this as a step forward, while others are not so sure. In particular, many have expressed their dissatisfaction with the idea, claiming that it takes away from the original idea and goal of Bitcoin’s creation. Casey Rodarmor, a former Bitcoin Core contributor and the creator of Ordinals, believes that the creation of Bitcoin goes beyond its creator’s intentions. He believes that the technology should be used for more than just digital gold.

No matter what side of the debate you may be on, the launch of Ordinals is sure to bring about a new wave of innovation in the Bitcoin space. With NFTs becoming increasingly popular, this could be a major step forward for the blockchain. We will have to wait and see how the project develops and how it is received by the public.

• Grayscale and SEC are to present their case in an oral argument to the SEC come March.
• A motion has been filed by a court to set a date for the oral argument between Grayscale and the SEC.
• The outcome of the lawsuit is significant for the cryptocurrency market.

The cryptocurrency market is bracing itself for one of the most important court cases this year. A motion was recently filed by a court to request that Grayscale and the United States Securities and Exchange Commission (SEC) make appearances to present an oral argument. Grayscale, a giant in the industry, has recently filed a lawsuit against the SEC.

The motion was filed on the 23rd of January by an appeal court in the U.S., for the District of Columbia circuit. The court explained that Grayscale and the SEC’s case is now being scheduled for an oral argument. The oral argument will take place at 9:30 AM, on the 7th of March, 2023. Thirty days before the oral argument takes place, the names of panel members for the argument will be disclosed to the public on the court’s official website. The filing added that the time and date of oral argument will not change absent further order of the Court, as well as that a separate order will be issued regarding the allocation of time for argument.

In an oral argument, the case is presented to the court verbally. Questions from the Intermediate appellate court judges, or the supreme court justices, might be thrown at lawyers or parties representing both sides of the case. Lawyers are typically given 30 minutes each, to answer these questions, and also make a case for their clients.

The outcome of Grayscale’s lawsuit holds significance for the cryptocurrency market. Grayscale expressed their frustrations over the SEC’s decisions and the lawsuit was filed in response to this. As such, the result of this case could have a significant, positive or negative, effect on the cryptocurrency market. This could cause a significant change in the price of Bitcoin and other cryptocurrencies.

The court motion for the oral argument between Grayscale and the SEC is a major step for the cryptocurrency market, as the outcome of this case could potentially have a major effect on the industry. It is important to note that the court will issue a separate order regarding the allocation of time for the argument, and this will be disclosed thirty days before the oral argument takes place.

• The UCO Network is leveraging VeChain technology to improve the transparency and security of its used cooking oil and biofuel marketplace.
• The VeChain Foundation hopes to complete the carbon footprint explorer for the network before June 2023.
• By using blockchain technology, buyers and sellers don’t need intermediaries to complete transactions and transactions can be tracked and audited when necessary.

The used cooking oil and biofuel industry is an essential aspect of the global economy, yet it continues to suffer from a lack of transparency and inefficiencies. To address these issues, the UCO Network has begun to create a global platform to collect, process, and trade-off used cooking oil. The network is leveraging VeChain technology to improve the transparency and security of its marketplace.

The VeChain Foundation hopes to complete the carbon footprint explorer for the network before June 2023. The explorer will allow buyers and sellers of used cooking oil to track the carbon footprint of the oil they are trading or purchasing. The VeChain technology also ensures that transactions can be audited or tracked when necessary.

The UCO Network is also introducing other features to further improve the efficiency and transparency of the cooking oil industry. This includes utilizing blockchain technology which will allow buyers and sellers to complete transactions without the need for intermediaries.

In the long run, the UCO Network hopes to make a massive impact in the biofuel and used cooking oil industries. Their partnership with VeChain is just one step in achieving this goal. By leveraging VeChain’s technology and expertise, the UCO Network will be able to bring greater transparency and security to their marketplace.

The UCO Network’s 2023 schedule is ambitious and the VeChain Foundation is confident that the network’s developers will be able to complete the carbon footprint explorer for the network before June 2023. This will be a major milestone for the UCO Network and will be a testament to their commitment to improving the used cooking oil and biofuel industry.

In the future, the UCO Network will continue to innovate and create new features that will benefit buyers and sellers. With the help of VeChain and their advanced technology, the UCO Network will be able to revolutionize the used cooking oil and biofuel industry.