Bitfinex and Tether FUD ends, Square invests $170 million and IPO for mining farm.
Bitfinex and Tether ending legal dispute after years of FUD
Bitfinex and Tether have settled with the New York Attorney General’s (NYAG’s) office, ending a legal dispute that began in mid-2019.
As part of the settlement, Bitfinex and Tether have agreed to pay $18.5 million, according to a statement from New York Attorney General Letitia James.
In April 2019, the NYAG’s office alleged that Bitfinex used Tether’s funds to secretly cover $850 million lost to payment processor Crypto Capital. The lost funds allegedly triggered withdrawal problems for Bitfinex’s customers in late 2018.
Bitfinex at the time had said that it did not lose money. Instead, Crypto Capital’s funds had been seized by government authorities in Portugal, Poland, and the U.S. Bitfinex has been seeking to recover those funds since then.
It’s a bullish sign for the market, which faced this ‘Tether FUD’ for months now. In the end, it al seemed fake and incorrect statements.
Source: The Block
Square has invested $170 million in bitcoin
Credit and payments firm Square has invested $170 million in Bitcoin, more than tripling its last investment in the largest cryptocurrency.
The company purchased about 3,318 bitcoins at an average price of $51,236, according to its quarterly earnings report.
“Combined with Square’s previous investment of $50 million in bitcoin, this represents approximately five percent of Square’s total cash, cash equivalents, and marketable securities as of December 31, 2020.”
Square is well known for their Cash App. They also reported $4.57 billion in bitcoin sales for 2020 via this app.
Bitcoin mining firm plans to list in the U.S. to raise $500 million
Northern Data AG, the operator of the world’s largest Bitcoin mine, is working with Credit Suisse Group AG on plans for a U.S. listing that could raise as much as $500 million.
The Frankfurt-headquartered firm owns, among others, the world’s largest cryptocurrency mining facility in Rockdale (Texas) which has a planned capacity of 1 gigawatt by the end of 2021.
Northern Data is already listed on Deutsche Börse’s Xetra trading venue under the ticker NB2.
The sale of new shares will boost Northern Data’s shareholder base as well as its global profile. Since 2015, Northern Data has been listed on Germany’s over-the-counter market, where it’s more than tripled in value over the past year.
Source: Bloomberg
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