Crypto weekly: Tether maintains $3.3B in liquidity cushion; Mastercard, Visa Step Back From Binance Card Partnerships.

Welcome to our cryptocurrency events review. The last few days were full of interesting news from the world of digital assets. In the coming week, however, no significant news is expected.

Review of the past week:

August 22, 2023 China sentences former party official to life in prison for crypto mining corruption, power abuse.
Yi Xiao, a former provincial-level official in the southeastern province of Jiangxi, was sentenced to life in jail for wrongdoings — including supporting crypto mining — a local court pronounced today. Read more
August 23, 2023

Thailand’s New Pro-Crypto Prime Minister Was an Active Crypto Investor.
The resolution of political drama and appointment of Srettha Thavisin as Thailand’s next Prime Minister means a 10,000 THB ‘airdrop’ is likely happening. Read more

August 24, 2023

FTX Taps Galaxy to Sell, Stake and Hedge Its Crypto Billions.
The bankrupt exchange wants to return funds to creditors in dollars without denting value. Read more

August 24, 2023

Mastercard, Visa Step Back From Binance Card Partnerships.
Visa halts issuing new Binance Card while Mastercard ends pact. Read more

August 25, 2023

Tether maintains $3.3B in liquidity cushion: USDT transparency report.
The total assets under Tether stand at $86.1 billion, with total liabilities amounting to $82.8 billion — thus confirming a reserve backing of over 100%. Read more

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FYBIT team

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