Bloomberg Reveals Tether Assets Include $1B With Celsius – October 8

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $54,786

Bitcoin price made a run at the $56,000 level this morning, currently trading a little below $55,000 to begin Friday.

Top-20 altcoins are a mixed bag over the last 24 hours, as Ethereum gains less than 1%, Cardano falls 1% and Shiba Inu drops 15%.

Top Stories for October 8, 2021 πŸ”₯

πŸ‘‰ Bloomberg Reveals Tether Assets Include $1B With Celsius

An investigation by Bloomberg has revealed that stablecoin company Tether has lent $1 billion to crypto lending platform Celsius.

Bloomberg journalist Zeke Faux claims that the loan is just part of billions of dollars lent by Tether to crypto companies, which use Bitcoin as collateral.

Celsius is paying an interest rate of between 5% and 6% on its Tether loan.

πŸ‘‰ Magic Internet Money (MIM) Reaches Billion-Dollar Market Cap

Rising stablecoin Magic Internet Money (MIM) has reached a $1 billion market cap, proving itself as a viable competitor to the well-established MakerDAO.

MIM is a stablecoin by Abracadabra.Money, a multi-chain protocol which enables users to borrow MIM against collateral in the form of interest-bearing DeFi assets.

πŸ‘‰ Binance To Shut Down Multiple Services For South Africa

Cryptocurrency exchange Binance is shutting down futures contracts, options contracts, margin products and leveraged tokens for South African customers.

The move makes South Africa the latest of a long list of countries to have such Binance services withdrawn, as the exchange attempts to become more regulation-friendly.