JUST IN: 🇺🇸 US National Debt officially reaches new all-time high for the first time since February.


JUST IN: 🇺🇸 US National Debt officially reaches new all-time high for the first time since February.
According to CryptoSlate, more than 500 Chinese creditors are challenging the FTX freeze of $470 million in payments to the US court. FTX previously requested to suspend payment to users in 49 jurisdictions, including China, on the grounds of "legal uncertainty of cryptocurrency", of which Chinese creditors involved US $380 million in claims, accounting for 82%. Creditor representative Will stated that the group has submitted 35 written objections to the bankruptcy court and is seeking collective legal representation. It questioned FTX's unilateral change of terms after the approval of the restructuring plan, believing that this action would damage the fairness of the procedure based on differences in nationality or geography. FTX stated that this move is to mitigate the legal risks of transferring funds to cryptocurrency restricted regions.
According to Foresight News, the Coinbase developer platform has launched the Onramp API, an application programming interface for fiat currency deposit. Its initial partner, Moonshot, has officially gone live. The Onramp API allows for customized user experience, quick integration, support for Apple Pay, and guest checkout. In addition, this feature is currently only available in the United States, and users must have a US phone number and pay in US dollars.
BlockBeats News: On July 9th, according to Paradigm's official announcement, Ricardo de Arruda has joined Paradigm as an investment and research partner to help other members of the team drive advances in encryption technology. Ricardo de Arruda entered the field of encryption in 2017 and previously worked as a data scientist and engineer at Allium, focusing on blockchain data infrastructure construction, token incentive design, and witch activity detection.
According to Foresight News, Willy Woo tweeted that his data model simulates the liquidity of Bitcoin, and the market is currently in the late stage of the cycle. Regions with reduced risk indicate newly emerging liquidity, which is often a prelude to reaching new highs. Now it (the risk reduction area) is declining.
According to CryptoSlate, four issuers of US dollar stable currency hold about US $182 billion of US treasury bond bonds, ranking 17th according to the ranking of the US Ministry of Finance. Including overnight treasury bond mortgage repo and monetary fund positions in heavy treasury bond bonds, the size is between Norway (US $195.9 billion) and Saudi Arabia (US $133.8 billion). Among them, Tether's USDT scale is the largest, holding US $120 billion of treasury bond in the first quarter, which has increased to more than US $125 billion in late May; Circle provided USD55.2 billion of reserves for USDC, including USD28.7 billion of treasury bond and USD26.5 billion of repurchase agreements; In the FDUSD reserve of First Digital, $1.3 billion is treasury bond; Paxos' PYUSD reserves of reverse repurchase agreements pledged by treasury bond correspond to about 880 million US dollars of government debt. According to data from the US Treasury Department in April, the total holdings of the four companies reached $182.4 billion, surpassing South Korea and the United Arab Emirates, and second only to Norway.