MicroStrategy is not the only company that is investing recurrently in Bitcoin, so is Tether Limited, the issuer of the stablecoin USDT. This and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
Tether continues to buy Bitcoin
📍Tether Limited, the issuer of the USDT stablecoin, invested over $45 million in Bitcoin in the second quarter. The company recently revealed that it has added another 1.529 BTC to its reserves, valued at around $45 million, according to the current market price of bitcoin. Tether paid approximately $45,4 million for these bitcoins.
In a statement, the USDT company confirmed that this amount of bitcoins was added to its reserves during the second quarter of this year.
Last May, Paolo Ardoino, CTO of Tether Limited, said that the company had begun to implement a new investment strategy to diversify its reserves with other digital assets. Thus, each quarter, Tether allocates the 15% of your net profits from the purchase of this cryptocurrency, considered a long-term store of value and currently the highest-performing investment asset in the world.
Meanwhile, Michael Saylor, CEO of business intelligence company MicroStrategy, has said he will accumulate as many bitcoins as possible. MicroStrategy currently holds 152.800 BTC, valued at over $4.500 billion.
Israel to regulate DAOs
📍The Israeli government wants to explore the benefits and risks of decentralized autonomous organizations. To this end, a working group has been launched, led by the Ministry of Finance and the Corporations and Capital Markets Group of the Ministry of Justice.
This new working group will focus on examining how DAOs operate, the activities they perform, and the role of associated tokens for decentralized governance and investment. All of this will be done in order to foster an appropriate environment for the development and regulation of this type of organizations in the country, Indian the Israeli government from its website.
The Sandbox implements a KYC verification process
📍The developers of the blockchain metaverse have announced that KYC will be implemented for users of their staking service. The Sandbox is implementing a customer verification process, or KYC, to ensure compliance. The developers of the metaverse, based on the Ethereum blockchain, are also hiding behind the security of users to justify the implementation of this process, which for many in the crypto community represents an invasion of privacy.
The Sandbox reported from its X (formerly Twitter) account, that the KYC process will only be implemented for those users who stake on the platform; that is, for those who deposit SAND tokens to claim weekly earnings. Unverified users will only be able to withdraw their SAND tokens from the platform, the project indicated.
SAND, which is the native token of The Sandbox, was indicated by the U.S. Securities and Exchange Commission (SEC) as a security last June during the regulator's lawsuit against Binance.
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IMPORTANT: The content of this article is for informational purposes only and, in no case, what is written here should be taken as investment advice or recommendations. Bit2Me News reminds you that before making any investment you should educate yourself and know where you invest your money, as well as the pros and cons of the system. We separate ourselves from the actions and consequences that ignorance may entail. If you decide to invest in this or another asset class, you are solely responsible for the consequences that your decisions and actions may have.
