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US Secretary of Commerce Howard Lutnick is personally assisting with Tether’s equity fundraise, according to Swan Bitcoin CEO Cory Klippsten. Citing a tip from a national news reporter, Klippsten claims that Lutnick is simultaneously running the Department of Commerce (DOC) and drumming up support for the stablecoin giant’s $20 billion open equity round. On September 23, Bloomberg reported that Tether was trying to sell approximately 3% equity in a $15-20 billion private placement. If successful, the raise could value Tether at $500 billion, putting it on a par with the likes of Exxon Mobil and Mastercard. Equity fundraises typically take a few weeks to fill and close, so the round could presumably remain open today. Donald Trump nominated Lutnick to join his Presidential Cabinet on November 19, 2024. He passed Senate confirmation on February 18 and was sworn in on February 21, 2025. Before joining Trump’s administration, Lutnick was a bond manager for Tether a...

A state-issued stablecoin is now in development in North Dakota. The state-owned Bank of North Dakota (BND) has partnered with payments giant Fiserv to launch Roughrider Coin in 2026. This US dollar-pegged token promises instant, secure transfers for local banks and credit unions, slashing days-long waits to seconds. Fully backed by reserves, the coin will honor Theodore Roosevelt’s legendary Rough Riders cavalry. BND President Don Morgan says the coin is designed to capitalize on recent changes in federal law and secure the “continued health, resilience, and relevancy of the North Dakota financial industry for its citizens.” Governor Kelly Armstrong says the “new financial frontier is here,” with the Bank of North Dakota and Fiserv poised to help North Dakota’s financial institutions embrace new ways of moving money. North Dakota is the second US state to develop a custom stablecoin. Wyoming’s Frontier Token is alread...

A Los Angeles jury ordered Johnson & Johnson to pay $966 million in the talcum powder cancer case. The ruling came after evidence showed that the company used asbestos fiber to manufacture its powder. Asbestos fiber is a toxic chemical and is carcinogenic, causing a rare cancer. The jury ordered Johnson & Johnson to pay $966 million to the family of a woman who died from mesothelioma. The company is liable in the latest trial for its use of cancer-producing chemicals. The family of Mae Moore, a California resident, died at the age of 88 in 2021. The family sued J&J, claiming its baby talc powder contained asbestos fiber. Also Read: IMF Warns Banks of Liquidity Risks in the $9.6 Trillion FX Market Johnson & Johnson To Appeal the Court’s Verdict, Says Baby Talc & Cancer Have No Connection Source: CNBC The court ordered J&J to pay $16 million in compensatory damages and $950 million in punitive damages. The total fine comes to $966 million, according to the court f...

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Cash is pouring into crypto exchange-traded funds at a record rate. A whopping $5.95 billion in weekly inflows entered institutional funds in just one week, reports CoinShares, with Bitcoin leading the pack. BTC pulled in $3.55 billion from September 29th to October 3rd, the second-highest week ever. Ethereum funds drew $1.48 billion, boosting year-to-date ETP inflows to $13.7 billion. That’s three times higher than last year’s total. Meanwhile, Solana set a new high with $706.5 million, while XRP nabbed $219.4 million. The US poured in $5 billion, with Switzerland at $563 million and Germany at $312 million. Overall, total crypto assets under management have topped $254 billion. Rapid inflows in recent months have left the amount of Bitcoin on exchanges hit a six-year low, with 114,000 BTC worth about $14 billion leaving platforms in two weeks, per Glassnode. Follow us on X, Facebook and Telegram Source: https://thebittimes.com/crypto-etfs-shatte...

The US dollar is witnessing one of its most violent value declines in decades. The American currency is experiencing stark volatility as the USD continues to battle the US debt spiral, alongside weak economic statistics. Whether it’s about Trump’s tariffs or de-dollarization, the USD has to bear the brunt of it all, tanking violently as a result. That being said, is the dollar’s future truly secure, or is it meant to go down further? How can investors protect themselves from this spiral? Here’s what Barclays has to add to this. Also Read: BRICS Just Unveiled the Plan to Replace US Dollar Worldwide Barclays Dollar Dynamics Source: iStock The US dollar is out battling aggressive market forces. The dollar has lost 40% of its purchasing power since 2000 and continues to project a wobbly stance as Fed rate cut anticipation continues to intensify. At the same time, the US dollar is now declining at a rapid pace, with elements like the US government shutdown and weak ec...

Ripple (XRP) has long attracted attention and has thrived on speculation and attention. The time has been scrutinized hard, but it has always come out stronger, making its potential known to the world. The token is now standing at a great precipice of change, with nearly 18 ETF files waiting for approval from the US SEC. If these XRP ETFs were to gain approval this month, the current Ripple price momentum could surge dramatically, making October a true “Uptober” month for the token to bask in. Also Read: ‘Hold’ XRP, Say Majority of Crypto Analysts: What’s The Price Target? XRP ETF Narrative: Where Are We At? Source: CryptoSlate The XRP ETF debate is now gaining significant momentum, with 18 XRP ETFs in line to gain approval this month. The month of October is often touted as “Uptober” in crypto culture, with October historically being proven to be one of the most promising cryptocurrency months for the community to enjoy and explore. The token is now a prominent ETF member, with projec...

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Coinbase stock rally has been gaining significant traction right now, with shares actually jumping 7.45% to reach $371.97 as the cryptocurrency exchange is benefiting from a combination of bitcoin-backed loans, a USDC UBI pilot program, and also some emerging crypto regulatory clarity around stablecoin legislation. These three catalysts converging at once are reshaping how investors view the company’s future. Coinbase Stock Rally Fueled by Bitcoin Loans, UBI Pilot & Regulation Source: TipRanks Bitcoin Lending Creates New Revenue The current coinbase stock mania is fuelled by several initiatives that are being launched simultaneously. The bitcoin-backed loans feature of the company now allows users to take a loan of up to $1 million by pledging their Bitcoin collections as security to the loan, which provides the company with a new source of income through lending. Crypto holders in need of liquidity use this service without selling assets or triggering taxes. Coinbase NASDAQ stock...

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Telegram founder and The Open Network (TON) developer Pavel Durov has claimed that he was poisoned in 2018 as tensions between Telegram and Russia began to escalate.   Durov revealed the poisoning attempt during an interview on the Lex Fridman podcast on Tuesday. In it, he described a “weird” neighbor leaving something at the door of the townhouse he was renting.  Within the hour, he said he began to fear for his life as his body began to shut down and he collapsed. Durov says he eventually woke up covered in broken blood vessels and was unable to walk for two weeks.   Durov poisoned during eventful spring Durov didn’t specify exactly when the poisoning occurred, only revealing that it happened in the spring of 2018. It was around this time that his TON crypto project raised $1.7 billion across two funding rounds from 170 investors, including various Russian billionaires.  Then in April, Telegram refused to give encryption keys to Russia’s Federal Securit...