Tether, the leading stablecoin issuer, has recently added 7,629 bitcoin to its balance sheet after a nine-month hiatus from accumulating the flagship cryptocurrency. This strategic move brings its total holdings to 82,983 BTC, valued at approximately $7.68 billion.

Hybrid cryptocurrency exchange Hyperliquid has introduced native staking on its network, allowing token holders to earn rewards for contributing to its security. In a recent announcement, the exchange detailed users can select which validators to stake their tokens with, based on various criteria.

Nasdaq-listed business intelligence firm MicroStrategy has seen its stock price fall below the $300 mark in after-hours trading on Monday, representing a drop of around 46% from its all-time high seen back in November.

Top stories in the Crypto Roundup today:

• Tether Adds 7,629 Bitcoin to Balance Sheet After Nine-Month Hiatus
• Hyperliquid Launches Native Staking Feature
• MicroStrategy Stock Plunges Below $300 in After-Hours Trading After 46% Drop From Highs

Tether Adds 7,629 Bitcoin to Balance Sheet After Nine-Month Hiatus

Tether, the leading stablecoin issuer, has recently added 7,629 bitcoin to its balance sheet after a nine-month hiatus from accumulating the flagship cryptocurrency. This strategic move brings its total holdings to 82,983 BTC, valued at approximately $7.68 billion.

According to data from Arkham Intelligence, a wallet associated with Tether has been steadily increasing its BTC holdings, while its USDT holdings surpass $6 billion. Additionally, the wallet holds approximately $210.5 million worth of Tether’s gold-backed cryptocurrency, XAUT, and $25.6 million worth of its discontinued euro-backed stablecoin, EURT.

This move follows Tether’s strategic partnership with Nasdaq-listed video-sharing platform Rumble. As part of the agreement, Rumble secured a $775 million investment from Tether, which, in turn, purchased 103.33 million shares of Rumble’s Class A common stock at $7.5 per share.

 Tether reported a net profit of $2.4 billion in the third quarter of the year. The majority of this profit was attributed to earnings generated from its substantial holdings in U.S. Treasuries and gold, with Treasuries contributing approximately $1.3 billion to the overall results.

Hyperliquid Launches Native Staking Feature

Hybrid cryptocurrency exchange Hyperliquid has introduced native staking on its network, allowing token holders to earn rewards for contributing to its security. In a recent announcement, the exchange detailed users can select which validators to stake their tokens with, based on various criteria.

The staking feature launched with 16 validators and data shows that around $344 million worth of HYPE have already been staked. The move comes after its native token HYPE was airdropped in late November to its community.

Hyperliquid bills itself as a hybrid exchange combining elements of centralized platforms like Blanche and decentralized ones like Uniswap. It operates its own blockchain, offering a degree of transparency similar to decentralized exchanges, but it’s maintained by a select group of developers, a trade-off made to achieve high  speeds similar to those seen on centralized platforms.

MicroStrategy Stock Plunges Below $300 in After-Hours Trading After 46% Drop From Highs

Nasdaq-listed business intelligence firm MicroStrategy has seen its stock price fall below the $300 mark in after-hours trading on Monday, representing a drop of around 46% from its all-time high seen back in November.

According to available data, MicroStrategy’s closed down 8.2% on Monday to $302.96, its lowest closing price since early November, before sliding an additional 3% in after-hours trading. Despite the downturn, MicroStrategy’s shares are still up 342% year-to-date.

The surge comes as the firm has maintained its aggressive bitcoin accumulation strategy, having recently acquired an additional 2,138 BTC to bring its total cryptocurrency holdings to 446,400 BTC. Its shares have also recently been added to the tech-heavy Nasdaq 100 index.

This month, the firm called for a special shareholders meeting to fund the purchase of additional BTC as part of its 21/21 plan, which stipulated the firm will raise $42 billion over the next three years between equity and fixed-income offerings to buy more bitcoin.

State of the Crypto by Top Tier Exchange Volume

Build your project with CoinDesk Data

Terms | Privacy

13 Charles II St, SW1Y 4QU

London, UK

This email may include advertisements by third parties. None of the advertised or promoted products and services have been verified or approved by us and this email is not any endorsement by us of the third party or of their products or services.