EUR/USD 1.16348
-0.049%
Gold 3385.15
-0.247%
Oil 63.046
-0.111%
USD/JPY 147.620
0.134%
GBP/USD 1.34693
-0.057%
GBP/JPY 198.838
0.083%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Faraday Future (FFIE.O) announced today that its founder and global co-CEO, Jia Yueting (YT Jia), and FF Global President, Jerry Wang, have made their first purchase of FF common stock under their previously signed 10b5-1 trading plan. On August 25, 2025, Jia Yueting increased his holdings of FF common stock by approximately $200,000 (including fees), and Jerry Wang purchased approximately $25,000 (including fees) of FF common stock. Both purchases were made in strict accordance with the previously signed 10b5-1 plan and after the expiration of the cooling-off period. Jia Yueting will complete the remaining purchases under the plan over the next three weeks, and Jerry Wangs next purchase is expected to occur one month later.Hang Seng Index futures opened up 0.3% at 25,650 points, 115 points higher than the previous session.Futures market news on August 27th: 1. Supply: Despite Ukraines attacks on Russian energy facilities, including refineries and gas stations, Russia still stated that exports would increase by 200,000 barrels per day next month, unaffected by the attacks. EIA data indicates a decline in US crude oil production. Elsewhere, Middle Eastern negotiations over Gaza remain stagnant. OPEC+ decided to increase production by 540,000 barrels per day in September, fully restoring the 2.2 million barrels per day of additional production cuts. The additional 1.66 million barrels per day of voluntary cuts will be considered after December. 2. Demand: Despite the US PMI exceeding expectations, the Federal Reserves dovish stance and EIA data indicating a significant rebound in US diesel prices, stronger than last year, suggest that US demand remains resilient. However, rising long-term bond yields in Europe and Japan are weighing on the economic outlook. 3. Inventories: As of August 22nd, API crude oil inventories fell by 970,000 barrels per day, gasoline inventories by 2.06 million barrels per day, and distillate inventories by 1.49 million barrels per day. 4. Viewpoint: Demand is suppressed by overseas long-term bond interest rates, and there is a high degree of certainty of oversupply. However, the uneven distribution of inventories has led to low visible inventories, and crude oil prices may fluctuate downward.Futures market data from August 27th indicated that Trumps dismissal of a Federal Reserve governor weakened the US dollar, benefiting gold. The market is gradually digesting the positive impact of Powells dovish speech at the 25th Jackson Hole Conference, leading to a decline in silver prices. Focus is on the upcoming PCE data, with gold and silver prices expected to remain volatile in the short term. In the medium term, the Federal Reserve will continue its rate cuts, the US Senate will pass the "Big, Big" bill, and the US debt ceiling will continue to rise, potentially leading to a further increase in the fiscal deficit, all of which will be positive for gold prices. In the long term, uncertainties in the global trade and inflation environment, global central bank gold and silver purchases, and the persistent supply and demand gap between global central banks and silver, contribute to a bullish outlook for precious metals.The yield on the two-year U.S. Treasury note fell to 3.6540%, the lowest level since May 1.

Stablecoin Tether hires BDO Italia for monthly proof-of-reserve reports

Alice Wang

Aug 19, 2022 14:59

微信截图_20220819145252.png


he biggest stablecoin in the world, Tether, said on Thursday that it has hired the accounting company BDO Italia to attest for its asset reserves. By the end of the year, it plans to publish its reports monthly rather than quarterly.


A stablecoin is a form of cryptocurrency with a fixed value, such as a 1:1 peg to the dollar. They are often used to transfer money into conventional currency or between other cryptocurrencies.


According to Tether, the currency maintains its value by maintaining dollar-denominated reserves that are equal to or greater than the value of Tether coins currently in circulation. These reserves have long been the focus of investigation, which intensified in May when the collapse of the stablecoin TerraUSD caused a sell-off in the cryptocurrency markets.


The British Virgin Islands-based corporation Tether has recently issued papers in which accounting firms vouch for the extent of its cash holdings. As of March 31, the reserves were at $82.4 billion, of which $39 billion was held in US Treasury bonds and $20 billion in commercial paper.


The latter two studies were produced by MHA Cayman, a company from the Cayman Islands.


According to its website, Tether has previously worked with Moore Cayman, a different Cayman Islands company.


BDO Italia is an independent member firm of BDO International Limited and an Italian-based audit and assurance business. At least two of Tether's executives are from Italy. According to Chief Technology Officer Paolo Ardoino, the majority of the team's personnel are headquartered in Europe and the Bahamas, where the majority of the reserves are held.


The partnership between Tether and BDO Italia, the business stated in a statement, is "the next stage in the firm's route towards a thorough audit."


According to Ardoino, "Our community has requested over time to enhance the auditing company that we are utilizing because they thought they needed something greater."


According to Ardoino, Tether would reduce its holdings of commercial paper from $8.4 billion on July 1 to $200 million by the end of August. He omitted to say which assets these monies had been invested in.

Suggestion