– Tether admitted that it had invested some of its reserves in bitcoin and other assets
– The US SEC has delayed its decision on the VanEck/SolidX bitcoin ETF proposal again
– Kraken paid 250 salaries to staff in bitcoin in April
– Bitfinex and Ethfinex launched IEO platform Tokinex
Tether, USDT stablecoin issuer, admitted that it has historically used some of its reserves to make investments in bitcoin and “other assets”, according to to court documents obtained by The Block.
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The US Securities and Exchange Commission (SEC) has delayed its decision on the VanEck/SolidX bitcoin exchange-traded fund (ETF) proposal again.
The SEC has added a 35-day period for gathering more information and opinions on the proposal, which was initially filed by the Chicago Board Options Exchange (CBOE) last year.
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Crypto exchange Krakenpaid 250 salaries to staff in bitcoin in April, the company revealed responding to Peter Schiff, the CEO of Euro Pacific Capital, who had claimed “there is no way that people are going to work for salaries paid in bitcoin.”
The company, which reportedly employs about 800 people, also added that “more employees are opting for crypto every month.”
Bitfinex follows other major exchanges like OKCoin, KuCoin and Binance into this new line of business. Thus far there have been several advantages to fundraising with an IEO over an initial coin offering (ICO). Most notably, the arrangement usually comes with a commitment from the exchange to handle all Know Your Customer (KYC) and Anti-Money Laundering (AML) checks on a startup’s behalf. IEOs also usually come with a commitment by the exchange to promote the offering to its pool of customers.
