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Tether CEO (the issuer of USDT, the largest stablecoin — a coin whose rate is pegged to the dollar) Paolo Ardoino said the company holds about 150,000 BTC, worth roughly $11.5 billion. The latest reporting implies an amount $3.8 billion lower.
According to vote counts in the US midterm elections, Democrats are taking both chambers of Congress. Index futures fell overnight, then reversed by the morning of November 4: Nasdaq +2.2%, S&P 500 +1.8%.
On the morning of November 3, BTC fell below $77,000, while Asian exchanges opened down 3-4% due to chipmaker stocks. Over two sessions, $1.04 billion was withdrawn from US spot Bitcoin exchange-traded funds (funds through which the asset is bought like a stock).
The state Bureau of Securities withdrew the June 2023 order along with the $5 million fine. State residents will again be able to stake (lock coins in the network for a reward) through Coinbase; the company did not name an exact date.
On October 26, miners (companies that mine new BTC) transferred 21,140 BTC to Binance in a single stream - about $1.7 billion at prices at that time. Their own reserves dropped to 1.19 million BTC, nearly a five-plus-year low.
Gold fell below the round mark of $4000 per ounce for the first time since July, dropping to $3,986.85. The decline followed the collapse of US technology stocks: investors sold the metal to cover margin calls on other positions.
The US stock market fell sharply after higher inflation in the US. The Nasdaq Composite lost 1.9%, the S&P 500 - 1.1%, and the sell-off in AI- and chip-related stocks then spread to Asia, where the KOSPI plunged 8%.
