The Latest Breaking News from Bitfinex

The stablecoin issuer has endured prolonged scrutiny regarding its backing of USDT, a stablecoin that currently boasts an extensive market capitalization exceeding $95 billion, firmly establishing it as the predominant stablecoin in global circulation.

The SIT has identified some suspect transactions in local banks. It suspects that some bitcoins were encashed with the help of a jeweller. However, they need evidence of bitcoin transactions to verify whether these suspect transactions are linked to the alleged bitcoin scam.

Tether's strategic move to withdraw millions of dollars in Bitcoin has resulted in a staggering profit of $1.148 billion, recording a 68% profit margin.

The affected crypto businesses include Binance, Kucoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global and Bitfinex.

Bitfinex Securities announced that its first tokenized bond on the Liquid Network has raised over $5 million in USDT.

Sources close to hacker Srikrishna Ramesh aka Sriki, which The Hindu spoke to, claimed the hacker was “forced” to transfer bitcoins that he had allegedly stolen from Bitfinex, while in custody in 2020 and 2021

Data indicate that investors are still focused on Bitcoin, the world's largest crypto asset by market capitalization, with an inflow of $20 million, recording a year-to-date total of $1.7 billion.

The Central American nation led by Nayib Bukele is partnering with the controversial stablecoin Tether on the initiative.

Ardoino talked about his early career and why it's mostly been "business as usual" after recently becoming Tether's CEO.

A report attributed the surge to "a culmination of various factors, including a notable shift in the dynamics of the futures market compared to the spot market."

These metrics show Bitcoin holders' reluctance to sell while buyers look for BTC supply, which is one of the factors why the king of crypto reached a new year-to-date high of $38,410 on Nov. 24.