30 Second Cryptocurrency Price Summary
Current Bitcoin Price: $50,813
Bitcoin price appears to have found a new temporary range between $49,000 and $51,000 today, stabilizing after its recent tumble.
Top-20 altcoins have performed well, as Ethereum gains 7%, XRP rises 10%, and Dogecoin leads with a 31% run.
Top Stories for May 14, 2021
Stablecoin company Tether has released a breakdown of its reserves for the first time since 2014, revealing a very small percentage being in US dollars.
As of March 31st of this year, Tether holds 76% of its reserves in “cash and cash equivalents”, of which only 3.87% are in actual cash.
The rest of the figure is made up of “commercial paper” (65%), fiduciary deposits (24%), reverse repo notes (3.6%) and treasury bills (3%).
Coinbase CEO Brian Armstrong has stated that the exchange will expedite their listing process for newly-minted tokens, in a Q1 earnings call yesterday.
The exchange will also be listing the popular meme coin Dogecoin (DOGE) within the next 6-8 weeks.
The world’s largest cryptocurrency exchange, Binance, is allegedly under investigation by the US Internal Revenue Service (IRS) and Department of Justice (DOJ).
The investigation is looking into US residents using cryptocurrencies for illegal transactions and are seeking information from Binance employees and customers.
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Source: Tether Releases Breakdown Of Reserves – May 14