CryptoNews

Bit.Store and Gate Pay Unveil Gate MiniApp Collaboration for Enhanced Crypto Card Services

February 5, 2024
PRESS RELEASE. Bit.Store, a leading innovator in cryptocurrency card solutions, is thrilled to announce its strategic partnership with Gate Pay, one of the world’s premier cryptocurrency exchanges. This collaboration introduces a groundbreaking Gate MiniApp on Gate.io, designed to seamlessly integrate Bit.Store’s card services within the Gate Pay Ecosystem, offering users an unparalleled…
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Commodity Analyst Mike McGlone Says Gold Glitters Over Bitcoin as Crypto-to-Metal Ratio Plunges Post-2021

February 5, 2024
Bloomberg’s commodity market expert Mike McGlone warns of a potential downturn for bitcoin, highlighting its disappointing performance against gold since its peak in 2021. On Sunday, McGlone pointed out that the bitcoin/gold ratio had plummeted by about 40% from its 2021 zenith of 37 times. McGlone Highlights Bitcoin-to-Gold Ratio, Warns of Potential Downturn vs Gold Mike McGlone, a Bloomberg…
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Russia Open to the Use of Crypto in Foreign Trade Says Central Bank Governor

February 2, 2024
The Russian Central Bank is discussing the possible use of central bank digital currencies as a payment method in foreign trade, according to Elvira Nabiullina, the bank’s governor. Nabiullina stated that while Russia is opposed to the use of crypto payments in domestic transactions, the country is open to the idea of using cryptocurrencies in foreign trade. Russia Supports Use of Crypto in…
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Tether's 'Record-Breaking' Q4 Profit Partly Attributed to Gold and BTC Price Appreciation

February 2, 2024
In the last quarter of 2023, Tether Holdings Limited registered a “record-breaking net profit of $2.85 billion.” Overall, the stablecoin issuer’s net profit in 2023 topped $6.2 billion. Tether’s secured loans ($4.8 billion), which are collateralized by highly liquid assets, were “fully covered by the undistributed accumulated profits known as excess reserves ($5.4 billion).” Bitcoin…
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