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Facebook is looking for investors to launch stablecoins, sales of Antminer 17 from Bitmain have begun. The Chinese have provoked the purchase of USDT above par.
According to unofficial data, Facebook is looking for investors to attract one billion dollars. This money will be used to create a stabilization fund with the release of its own stablecoin. It is noteworthy that the company has in its accounts more than 10 billion dollars. However, it decided to use investors' money to issue cryptocurrencies.
The number of users of the social network now amounts to 2.3 billion people. Therefore, it is possible that much more financial reserves will be needed here. According to preliminary data, Facebook stablecoin will be based on a basket of the most liquid currencies. This will increase the stability of the coin and protect it from significant market fluctuations.
What's problem with creating stablecoin
The Chinese company Bitmain announced the start of sales of ASIC miners of the new generation. Their architecture is built on a 7НМ chip, and allows increasing the hashrate by almost 30% with the same amount of electricity used. The “weakest” model in the Antminer S17 line consumes 2,860 watts, while it gives a hashrate of 53 TX / s. It has two modes of operation - standard and low power consumption.
The Antminer S17 Pro version will already consume 3,371 watts, however, the hash rate will increase to 62 TX / s. This model can work not only in standard or economy mode. For it, turbo mode, with increased performance has been developed.
Chinese investors are very actively engaged in buying stablecoins. If now they give 6.7 yuan for a dollar, then they are ready to give up to 7 yuan for the USDT. Moreover, the daily turnover of USDT rose to $ 12 billion, with a total capitalization of $ 2.1 billion. It turns out that each token is sold and bought several times a day.
The reason for this surge of interest is the policy of the Chinese authorities. Back in 2017, the country banned the holding of ICOs and the work of cryptocurrency exchanges. However, citizens of the country have not lost interest in Bitcoins. They began to buy USDT and other stablecoins very actively in order to exchange them for volatile cryptocurrencies.