#bitcoins-price

#bitcoins-price

Like any good Bitcoin maximalist, Tether is holding its own coins.The issuer of the largest stablecoin, USDT, disclosed that information in a recent blog post announcing it will be "regularly" buying bitcoin with its surplus profits to build up a war chest.This follows a surprisingly robust attestation (aka an "Assurance Report" completed by top five accounting firm BDO Italia, which is not the same as an audit) showing Tether netted $1.48 billion in profit in the first quarter of the year.

Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.Bitcoin (BTC) continues to lose ground in the wake of CoinDesk's Bitcoin Trend Indicator shedding the bullish bias for the first time in three weeks.The top cryptocurrency by market value fell to $26,160 before press time, reaching the lowest since March 17, according to CoinDesk data.

Despite bitcoin's price surging, digital asset investment products totaled net outflows for a sixth consecutive week last week, a report by CoinShares shows.Digital asset net outflows totaled $95 million for the week ending March 17.Outflows in digital asset investment products for the last six weeks totaled $424 million, the digital asset investment group found.

Time to add Credit Suisse (CS) to the list of bank failures we've seen so far in 2023.Over the weekend UBS agreed to buy Credit Suisse for what equates to about $3.25 billion of UBS stock complete with the Swiss government helping absorb some of the coming writedowns of CS's loan book.UBS had to step in to save CS after last Wednesday's 50 billion Swiss franc liquidity injection from the Swiss National Bank proved insufficient to buoy the bank's operations once the Saudi National Bank (CS's largest shareholder) said it wouldn't provide any more assistance.

The dollar value locked in the number of open bitcoin (BTC) futures contracts is rising, signifying increased speculative interest in the market and potential for price volatility.Data from CoinGlass shows the nominal value of open interest has reached a yearly high of $12 billion, marking a 7% gain for the month.