DeFi News Daily Official TheBitTimes.com

Although they sometimes disagree on issues like Bitcoin (BTC), the author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ Robert Kiyosaki, and a popular economist and gold bug, Peter Schiff, do agree on one thing – that the United States is looking at a massive financial collapse. Indeed, Schiff explained that the “fiat-based monetary system is on the verge of implosion” as the “dollar collapses and the world returns to the gold standard – just without the dollar,” as he joined Kiyosaki for an episode of his The Rich Dad Channel podcast streamed on June 26. Devastating consequences According to the economist , returning to the gold standard under such conditions would lead to devastating consequences for the already declining American standard of living, which he believes is “going to collapse,” and the US Federal Reserve might make the inflation worse by issuing Fedcoin. ...

Tether, the company behind the $112 billion market cap USDT, has introduced a new gold-backed stablecoin pegged to the U.S. dollar. The new stablecoin, called Alloy (aUSDT), marks Tether’s first foray into tethered assets and can be minted on the recently launched Alloy by Tether platform. According to Tether, Alloy is designed as an open platform for creating collateralized synthetic digital assets. The platform’s first asset is aUSDT, a token whose price is pegged to the U.S. dollar . 5/ Alloy by Tether provides long-term holders the opportunity to maintain exposure to gold, while in parallel obtaining a dollar-referenced Tethered Asset for payments and day-to-day economy.https://t.co/tuQikMJbJU — Alloy by Tether (@Alloy_tether) June 17, 2024 Investors can mint aUSDT by depositing Tether’s XAUt as collateral. XAUt, with a market capitalization of $570 million, is allegedly backed by physical gold stored in Switzerland.  ...

The former Coinbase exec settled the high profile wager 45 days ahead of time but remains convinced that a “fiat crisis” is inevitable. A $1 million Bitcoin (BTC) price bet has been closed out 97% under its target price , with its backer Balaji Srinivasan choosing instead to donate a total of $1.5 million to three different entities as a settlement. On May 2, Srinivasan, the former chief technology officer at Coinbase, said the bet had been “closed out by mutual agreement” 45 days ahead of time. As a settlement, Srinivasan paid pseudonymous Twitter user and self-titled “hyperinflation doubter” James Medlock $500,000, donated $500,000 to Bitcoin Core developers and gave an additional $500,000 to the non-profit charity Give Directly. I just burned a million to tell you they're printing trillions. pic.twitter.com/pX5622rjUO — Balaji (@balajis) May 2, 2023 “I settled the bet ahead of time and donated even more than I had committed,” Srinivasan tweeted. “I’m not in the habit o...

Michael Saylor, the co-founder of the Fortune 500 company, had maintained throughout the bear market that they would continue to invest in Bitcoin as they are confident in its fundamentals. Business intelligence and Fortune 500 company Micro strategy ’s Bitcoin (BTC) investment has turned green again as BTC broke past the critical resistance of around $29,000 to record a new 10-month high of $31,163. Microstrategy started investing in Bitcoin in the second quarter of 2020 when the BTC price was trading around $10,000. Since then, the business intelligence firm had made a series of BTC purchases over the period of two years. The firm has accumulated a total of 140,000 Bitcoin acquired for nearly $4.17 billion at an average price of $29,803 per BTC. MicroStrategy co-founder Michale Saylor introduced the Bitcoin strategy as a treasury hedging asset over the United States dollars. Apart from holding BTC personally and on the company’s balance sheet, Saylor also convinced several public...

Bitcoin continues to trade near $28,000, signaling a strong demand from investors even as the legacy banking system struggles with unprecedented volatility. The takeover of the ailing Credit Suisse bank by UBS boosted European equity markets on March 20 but not everyone is happy with the deal. According to Swiss regulator FINMA, the value of additional tier one (AT1) bonds will be written to zero. This move will wipe out $17 billion worth of investments for AT1 bond investors. Among the turmoil in the global banking sector, Bitcoin (BTC) has shone brightly. That is because traders seem to have shifted their focus to the alternative available to the legacy banking system. Another thing working in favor of Bitcoin is that it has decoupled from the United States equities markets and is behaving as an uncorrelated asset class. Daily cryptocurrency market performance. Source: Coin360 Bitcoin’s solid rally in the past few days has boosted trader sentiment. The Crypto Fear and Greed Index h...