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Produced by Daniel Aharonoff & Mogul Media AI

Fjord Secures $4.3M Seed Round for Community Funding

Fjord Secures $4.3 Million Seed Round: A Game Changer for Community-Focused Funding In a pivotal moment for the burgeoning world of blockchain and cryptocurrency, Fjord has successfully closed a remarkable $4.3 million seed funding round. This achievement underscores the critical need for platforms that not only connect innovative projects with dedicated backers but also prioritize fairness and transparency in the funding process. For more insights into Fjord’s potential impact, check out Fjord . A Strong Backing The oversubscribed round was led by Lemniscap , a reputable investment firm known for its focus on emerging crypto assets. Other notable participants included Mechanism Capital , Zee Prime Capital , and Castle Capital , along with a roster of angel investors such as Crypto Kaduna , Fomosaurus , Joshua Rager , and Danny Wilson of Illuvium fame. This diverse group of investors highlights the growing confidence in Fjord's mission and its potential impact on the blockch...
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Produced by Daniel Aharonoff & Mogul Media AI

Tether Bolsters Bitcoin Holdings to $2.8 Billion: A Deep Dive into Stablecoin Strategy

Stablecoin giant Tether has significantly increased its Bitcoin holdings, surpassing $2.8 billion worth of the digital asset. Recent blockchain data reveals that a BTC address linked to Tether received a substantial 8,888 BTC, equivalent to $379 million, by the end of December. This latest acquisition has boosted Tether's total Bitcoin holdings to 66,465 BTC, solidifying its position as one of the largest private companies holding BTC.

Tether's Strategic Bitcoin Accumulation

  • Tether has been consistently acquiring BTC throughout 2023, with a strategic announcement in May stating its intention to utilize profits for purchasing Bitcoin to bolster its reserves.
  • Additionally, in the same month, Tether disclosed plans to venture into Bitcoin mining operations, further expanding its involvement in the cryptocurrency ecosystem.

USDT: The Leading Stablecoin

  • Tether is renowned for minting USDT, the third-largest cryptocurrency by market capitalization, valued at $94.5 billion according to CoinGecko.
  • Despite its substantial market capitalization, USDT stands out as the most traded digital asset due to its status as a stablecoin, backed by real, stable assets like the U.S. dollar.

Streamlining Digital Asset Transactions

  • Stablecoins such as USDT play a pivotal role in simplifying the conversion of cryptocurrencies like Bitcoin into traditional fiat currencies like dollars, euros, or yen on various exchanges.
  • This streamlined process facilitates the seamless buying and selling of digital assets, catering to the needs of traders and investors in the volatile cryptocurrency market.

Tether's Controversial Past and Financial Backing

  • While Tether has faced criticism for its lack of transparency regarding the backing of its stablecoin, recent developments indicate that the company is backed by significant traditional finance entities.
  • Notably, Cantor Fitzgerald CEO Howard Lutnick revealed that the Wall Street broker holds a substantial portion of Tether's treasuries, countering some of the skepticism surrounding the stablecoin issuer.

In light of Tether's continued expansion of Bitcoin holdings and its pivotal role in the stablecoin market, the company's strategic decisions and financial backing underscore its enduring influence in the evolving landscape of digital assets and blockchain technology.

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