CoinChapter.com, a leading cryptocurrency news source, has curated the top crypto news of the day. Here’s a summary of the latest developments:
1. Futu Securities Launches Crypto Trading:
Futu Securities International, a prominent online broker based in Hong Kong, has taken a significant step by introducing Bitcoin and Ether trading for its 22 million customers. This move makes Futu the first online brokerage to offer direct cryptocurrency access to retail investors in Hong Kong. It is expected to attract new capital to the world’s two largest cryptocurrencies. This launch comes at a time when investor interest in cryptocurrencies is surging, fueled by the recent debut of spot Ether ETFs in the United States.
2. Ripple Invests $10M in Tokenized U.S. T-bills:
Ripple, a major player in the cryptocurrency industry, plans to invest $10 million in tokenized U.S. Treasury bills (T-bills) on the XRP Ledger. These TBILL tokens, issued by OpenEden, a tokenization platform, will be backed by short-dated U.S. Treasuries and reverse repurchase agreements collateralized by U.S. Treasuries. Ripple’s investment aims to improve the efficiency of traditional asset management and distribution on the blockchain, utilizing the XRP Ledger for global financial transfers and currency exchanges.
3. US Spot Crypto ETFs See Mixed Flows:
U.S. spot Bitcoin ETFs experienced minimal net inflows of $299k, while spot Ethereum ETFs saw net outflows of $77.21 million. Among Bitcoin ETFs, BlackRock’s IBIT and Grayscale’s Bitcoin Mini Trust were the only ones with positive flows, while Fidelity’s FBTC faced significant outflows of $31.57 million. For Ethereum ETFs, Grayscale’s ETHE continued to experience outflows of $133.33 million, while smaller funds like Grayscale Ethereum Mini Trust and Fidelity’s FETH attracted inflows. Bitcoin ETF trading volumes remained stable at $1.37 billion, while Ethereum ETF volumes slightly decreased to $472.5 million.
4. Telegram Introduces In-App Browser and Mini-App Store:
Messaging platform Telegram has launched an in-app browser and mini-app store in its latest update. The browser supports decentralized websites hosted on TON, enabling Telegram’s nearly one billion monthly users to access Web3 seamlessly. Users can switch between websites and the platform’s messaging feature effortlessly. The update also includes enhancements to the app store, such as search options and app previews. Additionally, a new payment system called Stars allows users to send units to friends.
5. Tether Reports $5.2 Billion Profit in H1 2024:
Stablecoin issuer Tether Holdings LTD has announced a significant profit of $5.2 billion for the first half of 2024, marking a 57% increase compared to the previous year. The company’s reserves have reached an all-time high of $97.6 billion in U.S. Treasuries, surpassing the holdings of several national economies. To ensure stable USDT, Tether maintains $5 billion in excess reserves. The company’s consolidated net equity has grown to $11.9 billion, reflecting a 70% increase since December 2023. Tether now ranks third globally in purchases of three-month U.S. Treasuries, trailing only the United Kingdom and the Cayman Islands.
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