Consumers' Research, a consumer advocacy group, has published a new report accusing the issuer of #USDT of a lack of transparency and the absence of a full audit of the reserves backing their stablecoin.
The report calls Tether the new #FTX, pointing to the possibility of a similar collapse with their crypto dollar's value dropping to zero. In addition to the report, Consumers' Research sent an open letter to the governors of all U.S. states and launched social media ads on radio and the internet.
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Currently, #BTC is up 43%, and #gold is up 25%.
#FactOfTheDay
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#Opinion
π³ Large investors are returning to the market
#CoinShares presented a report showing that after continued outflows from the crypto market totaling $1.2 billion, last week saw positive dynamics with capital inflows of $436 million.
π The movement of funds is driven by the expected 0.5% interest rate cut by the Fed, which has a 67% probability of happening. This could provide the market with additional liquidity and serve as a positive catalyst for #BTC growth in the short term.
π― However, it is important to note that there is a possibility the rate cut has already been priced in by the market, and if the forecasts come true, the prices may not only fail to rise but could even see a slight correction.
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π³ Large investors are returning to the market
#CoinShares presented a report showing that after continued outflows from the crypto market totaling $1.2 billion, last week saw positive dynamics with capital inflows of $436 million.
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At the moment, #BTC is attempting to consolidate at the $60,000 level, and altcoins from the top 100 are also showing price growth.
The reason for the positive trend is the new ATH of the S&P 500 index (#SPX).
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Today at 6:00 PM GMT, the U.S. Federal Reserve will announce the new interest rate.
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The key points of his speech were that the Federal Reserve is fully focused on inflation and employment, economic activity continues to grow, and the decision has been made to adjust policy towards less restraint.
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The #Bitcoin-#ETF is positioned as a hedging tool against fiscal, monetary, and geopolitical risks. The key point is the irregular correlation of #BTC with the U.S. stock market and the resilience of digital gold to market fluctuations caused by panic.
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Today, #BTC broke the $64,000 level, where it last traded on August 26. Experts cite the recovery of the U.S. stock market after the Fed's rate cuts and the Bank of Japan's decision to maintain its rates as the main drivers of the growth.
#ETF also saw capital inflows, with over $158 million added yesterday, signaling positive sentiment among institutional investors.
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