Author: ethan

Ethan focuses on altcoins and emerging blockchain ecosystems, covering new projects, sector expansion, and shifting narratives across the crypto landscape. His work looks at how ecosystems grow and interact, beyond short-term price movements. He regularly contributes context on Layer 1 developments and Web3 or DeFi trends connected to broader ecosystem growth.

Tether has reported a year-to-date profit of approximately US$ 10 billion, driven largely by income on U.S. Treasuries backing its stablecoin issuance. The figure places it among the most profitable issuers globally and raises fresh questions about reserve management, regulation and systemic risk.

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BitMine Immersion, a firm linked to Tom Lee, acquired $300 million in Ether, bringing its total holdings to $13,700 million. The purchase reinforces its exposure to the asset and may influence perceptions of institutional demand among market observers. The move is notable for institutional investors, treasury managers and participants who monitor large-scale accumulations.

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Changpeng Zhao (CZ), the founder of Binance, deleted a controversial post on the social network X. In the post, he denied involvement in Kyrgyzstan’s new Bereket Bank. The deletion comes after President Sadyr Japarov publicly claimed CZ proposed the idea, raising doubts about CZ’s ties to Kyrgyzstan. The controversy escalated following an interview by President Japarov with the local Kabar agency. Japarov stated that CZ proposed creating a private crypto bank in a key meeting in May 2024. According to the president, Zhao rejected the idea of a state bank but agreed to proceed with a private entity. This version…

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