Greetings in our second weekly news review. This article covered the most interesting news for this week (6.02.2023 – 11.02.2023).
Chainspot team
Hope you enjoy it. So let’s jump into review!
?Big sharks are into the game!
Visa is testing a settlement system for large payments using USDC on the Ethereum blockchain, and the company is also looking for solutions that would help it integrate blockchain technology into existing transfer systems.
“This is one of the areas where we want to develop. We can convert dollars to euros in a cross-border transaction, we should also be able to convert digital assets into traditional dollars.”
VISA representative
?Tether on fire
Tether was burned this week in one transaction 2,000,000,000 USDT.
Many people thought that most likely someone decided to cash out a large sum.
However, then representatives of Tether denied this, stating that these are “some kind of internal turbidity.”
⚖️SEC & Crypto
The US Securities and Exchange Commission (SEC) has named crypto assets and other emerging technologies as a top priority for 2023.
“In times of growing markets, evolving technologies and new forms of risk, we continue to protect investors.”
SEC
? Tether reports
Tether reports that the company significantly improved its balance sheet in 2022 – completely got rid of corporate papers and made a profit of $700 million in 2022.
Consolidated assets are $67 billion, and free reserves on the balance sheet are $960 million.
?Fall of the Kraken
Kraken stops all operations related to staking under SEC pressure.
By the way, Coinbase shares react to this news with a daily drop of 12% – all because the exchange holds about 13% of ETH and has its own cbETH liquid staking token. Or maybe catch on.
Kraken will also pay a $30 million fine.
?Afterword
That was our quick review of the most interesting news that we’ve got this week.
Chainspot team
Thanks for your attention, follow our socials for being more informed in the crypto world. See you next week!
