Tether introduced a new cryptocurrency backed by the price of gold. What is the significance of this event? Will it be popular and with whom?

Token Paper explains:

✔️The launch of Tether's aUSDT stablecoin backed by gold via the Tether Gold token (XAUT) is a landmark event, but its success raises serious doubts in the market. The main concerns are related to the following factors.

✔️There are major doubts about Tether's ability to provide aUSDT with sufficient real physical gold, given the huge gap between paper gold and real reserves.

✔️To gain market confidence, Tether needs to provide an unprecedented level of transparency of its gold reserves and verification mechanisms, which is not yet the case.

✔️Physical storage of large amounts of gold is costly, making the cost of holding such assets very high.

✔️Despite its reputation as a "safe haven", gold prices are also subject to significant fluctuations, calling into question the stability of the pegged stablecoin.

✔️Lack of confidence in Tether. After past claims by regulators, Tether has yet to regain full credibility in the crypto community.

✔️Thus, while the idea of aUSDT is attractive in theory, in practice it is highly sceptical due to the potential risks of insufficient collateral, lack of transparency and high costs. Without strict regulation and verification of collateral, the prospects for widespread adoption of aUSDT remain questionable. Stablecoins may be better served by more transparent and regulated methods of provisioning.

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💎 Telegram has launched a new blockchain-based dating app - TON Dating.

Women can use the service for free, while men have to pay 2,500 stars or 5,700 rubles per month.

The developers claim that the app's algorithm will actively fight anonymisers and bots, and users will be rewarded with TON cryptocurrency for the time they spend on it.

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💥Athena Labs has introduced a new feature for restyling the ENA token and the synthetic USDe stablecoin using the Symbiotic and LayerZero protocols.

🗣It was also announced the introduction of mandatory stacking.

🗣From the beginning of June 17, all users who receive ENA tokens through drop must block at least 50% of their tokens in staking.

🗣Otherwise, they will be redistributed among the wallets participating in the pools.

🗣This action is designed to reduce speculative capital, according to the developers.

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💵 A huge billboard has appeared in Times Square making allegations of corruption against Tether.

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📢 Coinbase to launch pre-markets for altcoins

🗣Crypto exchange Coinbase International will launch trading of perpetual contracts for altcoins before their official listing.

🗣The platform is planned to replicate the experience of rivals Binance, Bybit, Bitget and OKX by creating its own lunchepad.

"When the underlying token is launched on the respective spot exchanges, the instrument will transform into a standard perpetual contract," the exchange said in a statement.

🗣The product will be available to institutional investors through Coinbase International and retail traders through Coinbase Advanced. Such contracts will have an initial margin of 50 per cent or two times leverage.

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💰 Bitcoin long-term holders’ supply in profit holds above 14 million BTC

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😙 A billboard appeared in Times Square in New York accusing Tether of corruption

😏Yesterday, Consumers Research launched an advertising campaign accusing the USDT issuer of creating a pyramid scheme and calling it the "new FTX".

😏They also accused Tether🧐 of having links with other governments, terrorist groups, cartels and human traffickers.

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💰 TONcoin has broken through ATH

🔵During the day, the coin increased by 7% to $8.15.
🔵By capitalization, #TON shifted to 9th place, missing #DOGE.
💰At the same time, #NOT increased by 22% over the day and is trading at $0.021.

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👀 Pantera Capital will invest $200 million in projects combining Blockchain and AI

🗣The entire amount is expected to be raised by the end of 2025.
🗣Blockchain and AI are expected to add $20 trillion to the global economy by 2030.

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😙 The legend is broadcasting, we are delving into

We are still in a bull market.

GCR is the person who:
😏Anticipated the bear market and shorted altcoins at the peak of the market in November 2021.
😏Bet against Do Kwon and shorted LUNA.
😏Reminded people to withdraw funds during the FTX crash.

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🚨🟠 Bitcoin Whales Offload Over $1B BTC in Two Weeks

Hey everyone! 🔴
Over the past two weeks, long-term bitcoin holders and miners have sold over $1.2 billion worth of BTC, according to CryptoQuant. 🐋 Whales, the big players in the market, have been offloading their holdings through brokers.

"Traders are not increasing their Bitcoin holdings, and whale demand remains weak,"

CryptoQuant analysts noted. Stablecoin liquidity has also slowed down significantly since November 2023. 📉

🤖Miners are shifting their focus to the booming AI sector, selling BTC rewards for revenue. AI firms need energy-intensive data centers, which miners are well-equipped to supply. This shift is due to the fall in mining rewards post-halving. 💡

🔻Since June 5, BTC prices dropped from $71K to $65K amid a strong dollar and risk aversion. US-listed ETFs tracking BTC saw $600M in outflows last week. Some traders warn BTC could fall to $60K without new growth catalysts.

Stay informed and trade wisely! 🚀

#Bitcoin #CryptoNews #Blockchain

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❤️Who's Behind DJT Coin? Martin Shkreli Claims Ownership with Barron 🔠🔠🔠🔠🔠!

😊Hey folks!
Martin Shkreli, known as 'Pharma Bro,' claims he and Barron Trump launched the mysterious DJT crypto token, following a price surge linked to Donald J. Trump rumors. 💰

🔍In messages to crypto investigator ZachXBT, Shkreli shared over 1000 pieces of evidence of his involvement, stating he worked with a team of 40-50 people, including Barron Trump.

💸DJT, a Solana-based token, soared 180% after Pirate Wires reported Barron Trump spearheaded its launch. However, crypto trader Gigantic Rebirth bet $100M that Trump isn't linked to DJT, suspecting a cabal of crypto whales instead.

🆒ZachXBT found transaction data linking a major DJT holder to Shkreli's Shmartoggoth.ai project. Shkreli, released from prison in May 2022, was previously sentenced for securities fraud.

Stay tuned for more updates! 🚀

#CryptoNews #Bitcoin #Blockchain

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🚀 Bernstein Predicts Spot Bitcoin ETFs Near Approval!

Hey crypto enthusiasts! 🔝

🔝Bernstein analysts predict spot Bitcoin ETFs will be approved by major wirehouses in Q3/Q4 2024, driving BTC prices higher! Despite skepticism about early retail-driven allocations, institutional interest is growing.

💬Analysts highlight the "basis trade" as a gateway for institutions to go net long on BTC. This strategy involves arbitraging the difference between spot and futures prices.

💼They also expect increased BTC adoption as a treasury reserve asset, with new FASB guidelines simplifying corporate holdings.

📈Although BTC ETFs saw recent outflows, Bernstein foresees accelerated inflows soon. Current prices ($60K) are seen as prime entry points, predicting BTC could hit $200K by end of 2025! 🌟

#Bitcoin #CryptoETFs #Investment

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🇩🇪 German government transfers 💰 6,500 BTC to CEX

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