Tether's Billion-Dollar Month

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Diving deep into today's web3 currents:

๐Ÿ“ˆ Tether Ramps Up Issuance with 4 Billion USDT in a Month

๐ŸŒŸ Disney and Dapper Labs Launch NFT Platform Disney Pinnacle

๐Ÿ” False XRP Trust Filing Unlikely to Affect SEC's Bitcoin ETF Decision

๐ŸŒ Opyn Founders Exit Crypto Following CFTC Crackdown

Tether, a key player in the stablecoin market, has significantly ramped up its issuance of USDT tokens, minting a remarkable 4 billion in just one month, primarily on the Tron and Ethereum blockchains.

This increase, part of Tether's 2023 strategy, includes 1 billion USDT on Tron and 1 billion on Ethereum. Tether CEO Paolo Ardoino clarified these issuances are for inventory and chain swaps. In 2023, Tether plans to mint approximately 22.75 billion USDT. Meanwhile, U.S. lawmakers have introduced the CLARITY Act, aimed at restricting government officials from engaging with Chinese blockchain firms, including iFinex, Tether's parent company.

Disney has partnered with Dapper Labs to launch Disney Pinnacle, a groundbreaking mobile app that combines Disney's iconic characters with innovative NFT technology.

Initially available to a select group, the app will be released on the Apple App Store, followed by web browsers and the Google Play store. Disney Pinnacle allows users to trade digital pins of characters from Disney, Lucasfilm, Pixar, and Walt Disney Animation Studios, marking a significant step in the adoption of Web3 technology. This venture, which could revitalize the NFT market, leverages Dapper Labs' success in NFTs with Disney's global brand power to create an immersive digital collectibles experience.

A false filing for an XRP trust linked to BlackRock caused a brief price spike in XRP, but experts believe this event will not significantly influence the SEC's decision on Bitcoin ETFs.

The incident, however, highlights ongoing concerns about market manipulation in the crypto space. Meanwhile, the XRP Ledger has received substantial upgrades, including APIV2 for enhanced functionalities, improvements in Transaction Per Second (TPS) performance, and the introduction of new RPC methods. Four proposed amendments aim to further improve the XRPL ecosystem, covering aspects like bidirectional connectivity and sovereign identity solutions.

Zubin Koticha and Alexis Gauba, co-founders of the decentralized finance (DeFi) platform Opyn, are stepping down and exiting the crypto industry.

This move follows two months after Opyn settled an enforcement action from the U.S. Commodity and Futures Trading Commission (CFTC), which involved a $250,000 penalty and a directive to cease violating U.S. commodities trading laws. Opyn, an Ethereum-based options trading platform, will continue under the new leadership of Andrew Leone, promoted to CEO. Koticha and Gauba's departure is significant, considering their initial plans to have long-term roles in the crypto sector.


source: Reddit/Cryptocurrency Memes

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