Leading stablecoin issuer Tether, the firm behind the USDT token, has amassed $2.5 billion in excess reserves, and revealed it now plans to use 15% of its realized net operating profits to invest in the flagship cryptocurrency Bitcoin.
The issuer behind the popular USDC stablecoin, Circle, has started undertaking significant rebalancing of its reserves in a bid to protect them against a potential default on U.S. government debt.
The Dogecoin blockchain has reached a peak of 719,000 daily transactions, largely attributed to its newly established DRC-20 token standard that facilitates the creation of meme coins on the Dogecoin network.
Top stories in the Crypto Roundup today:
- Tether Commits to Buying Bitcoin Using 15% of Net Realized Profits
- Circle Shifts USDC Reserves to Repo Agreements Amid Debt Ceiling Crisis
- Dogecoin Transactions Skyrocket with New DRC-20 Token Standard