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Tether (USDT)

Crypto Exchange GDAC Halts Deposits and Withdawals Following $13 Million Hack

Hackers drained almost $13 million worth of digital assets from the South Korean cryptocurrency platform GDAC. This is the latest in a string of setbacks the industry went through. The Latest Victim The exchange’s team notified its users on April 9 that hackers exploited the Gdac Hot Wallet and transferred a significant amount of cryptocurrencies to an unidentified wallet.  They stole over 60 BTC, 350.5 ETH, 10,000,000 WEMIX, and 220,000 USDT (which accounted for around 23%...

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Tether Used Signature Bank’s Signet to Access US Banking System: Report

After Signature Bank collapsed last month, most of its assets and some of its loans were taken over by New York Community Bancorp (NYCB). All crypto-related clients, however, were told that their accounts would be closed in short order. Signet, Signature Bank’s proprietary software that allowed its crypto clients to transact in USD between such platforms at all hours of the day, remained in receivership at the FDIC. No Direct Exposure When Signature originally went under,...

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Tokenized Gold Market Cap Passes $1B as Investors Seek Safe-haven Asset

The rise in gold prices has been attributed to mounting speculation about the United States Federal Reserve’s future policy following the release of jobs data. The total market capitalization of tokenized gold has surpassed $1 billion. CoinGecko data places it at $1.02 billion, up 2.3% over the past 24 hours, with a trading volume of $35,508,696 over the same period. The largest gainers are PAX Gold and Tether Gold with gains of 2.7% and 1.9% respectively. Both are currently trading over...

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American Bank Runs Pull Bitcoin Liquidity to 10-Month Low

As the growing liquidity strain in the price of Bitcoin is a major concern, American banks are likely to start exploring new avenues to rebuild that part of the industry. The recent bank runs of American banks as recorded in March have fueled a massive pulldown on the liquidity base of Bitcoin (BTC), the world’s largest digital currency by market capitalization. As reported by CoinTelegraph citing data from crypto analytics provider, Kaiko, the drained liquidity in the market has hit a...

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XRP Withdraws Toward $0.5 as Sentiment Stalls, is the Rally Over? (Ripple Price Analysis)

Ripple’s price has surged in recent weeks, following a breakout above the significant $0.43 resistance level. However, it may be too early for the bulls to celebrate the end of the bear market, as warning signals are emerging. Technical Analysis By: Edris XRP/USDT Daily Chart: The price has risen almost vertically in the past few weeks, following a breakout above the $0.43 level and both the 50-day and 200-day moving averages, which are located around the $0.4 mark. These...

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Circle’s USDC Outflows Surpassed $10B Since SVB Collapse, Tether Dominance Rises

Weeks after the failure of a series of US banks as well as the Credit Suisse chaos, the crypto market has considerably recovered but the same cannot be said for a prominent stablecoin that has served as a backbone for DeFi trades – USDC. The confidence in Circle-backed stablecoin remains severely battered as investors continue to flee to Tether (USDT), the controversial stablecoin, in search of a safety net amidst the turmoil. USDC Outflow USDC’s market cap was down by over...

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XRP Slips Away From $0.60, Is a Deeper Correction Imminent? (Ripple Price Analysis)

Ripple’s price has rallied violently over the past few days, breaking multiple significant resistance levels against both USDT and BTC. However, the price is currently struggling at a key level. Technical Analysis By: Edris XRP/USDT Daily Chart: XRP’s price has risen rapidly since breaking the $0.43 level to the upside and retesting it. Ripple is currently trading at around $0.54 per coin and has finally reached the key $0.55 resistance area. However, the price is seemingly...

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Kokomo Finance Exit Scam Sees Developers Make Away with $4M Worth of Tokens

The Kokomo Finance protocol has been found to be an elaborate exit scam after developers used wrapped Bitcoin to steal user funds worth $4M. According to reports, developers behind crypto lender Kokomo used Wrapped Bitcoin (wBTC) to perpetuate a $4 million exit scam. A CoinDesk report alleges developers pulled off the scam over the weekend after manipulating tokens to steal millions in user funds. The report further stated that these developers attacked the smart contract of wrapped...

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Ripple Price Analysis: Following the Breakout, XRP Now Retesting the Critical Level

Ripple’s price has broken above a critical resistance level on the XRP/USD paired chart, which could initiate a rally in the coming days. Yet, it could still be too early to state that the bear market is over. Technical Analysis By: Edris XRP/USD Daily Chart On the USDT paired chart, the price has broken above the 50-day and 200-day moving average lines, along with the critical $0.43 resistance level. The breakout comes after months of consolidation. However, the price is now...

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Telegram Integrates Tether (USDT) Payments on Tron Network

Telegram has added a new feature enabling users to send each other the world’s largest stablecoin, tether (USDT). USDT runs on several blockchains, but for now, Telegram has added support for the stablecoin only on Tron. According to an update on March 22nd, USDT-TRON – TRC20 – has been added to the popular messaging app’s wallet function, thereby expanding its payment capabilities for buying and selling crypto. USDT is the third crypto-asset joining Bitcoin and The Open...

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