Banks want to reduce exposure to crypto businesses, just as crypto businesses are seeking to reduce exposure to the ongoing banking crisis. Find out more in this week's Crypto Biz.
) stablecoin grew from $66 billion to over $82 billion in the same period. The company boosted its U.S. Treasury bills to a new high of over $53 billion, or 64% of its reserves. Combined with other assets, USDT is now backed by 85% cash, cash equivalents and short-term deposits. Owned by Hong Kong-based iFinex, Tether has fought negative allegations about its finances. The company
by the New York Attorney General’s Office for misrepresenting the fiat backing for its reserves in 2021.Ledger’s latest feature has. Known as Ledger Recover, the company’s retrieval solution for hardware crypto wallets offers a safeguard in case users lose their seed phrase. However, the concept has enraged many in the crypto community, including security specialists.
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