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More than 60% of USDT tokens are bought in China; MicroBT and Samsung continue to cooperate. BGBP stablecoin is going to appear on the Binance exchange with reference to the British pound.
According to Diar Research Company, 62% of USDT stablecoin turnover is accounted for by Chinese buyers. At the same time, only 9% of this cryptocurrency is being circulated in the US market. Back in April, it was reported that investors from China are actively buying up USDT, besides they were ready to give more than $ 1 for 1 coin.
Meanwhile, Tether found out some problems a month ago. It turned out that only 74% of the issue was provided with fiat currency; the rest was stored in cryptocurrencies. Although, this is not of critical character in a growing market, trend’s change may have a negative impact on the capitalization of reserves and stablecoin overall stability. For changing the storing funds policy, Tether was forced to defend an action of the prosecutor's office in the US court, where the company was obliged to provide regular reports.
Samsung, a South Korean company, is the second semiconductor manufacturer in the world; however, it didn’t make an active game in the mining equipment market in prior years. But the situation is going to be changed in the nearest future. At the MicroBT M20 conference in Chengdu (China), it was announced about starting an active cooperation with MicroBT. It ranks third rating position among manufacturers of mining equipment.
Back in the beginning of 2018, Samsung began to develop chips with a technological process of 3 and 5 nm, which will significantly increase the equipment energy efficiency. The last of MicroBT ASICs has an efficiency of 48 W/TeraHash, and Bitmain’s device efficiency does not exceed 98 W/TeraHash. With an approximate cost, M20S is 400% more powerful than its competitor is, and consumes 50% less electricity.
What new in mining industry
One of the users found BGBP Stablecoin in the Binance Chain trading network with reference to the British pound. Shortly afterwards, this news was commented on by Changpeng Zhao, the Head of the exchange. He said that the new financial asset is still in the testing stage, and only 200 coins have been issued currently.
Changpeng Zhao noted that nowadays the company does not seek to force the work on BGBP launch. A while back, it introduced the Binance Chain platform with Binance Coin (BNB) to the customers. Apparently, the main efforts are aimed at its implementation. However, the potential introduction of new assets can be considered as a positive signal of a stable development of trading platform.
Meanwhile, Vitaly Buterin, the Ethereum founder, during his interview on Hardcore Crypto YouTube channel criticized Binance for large listing fees and expressed anxiety about the accumulation of centralized power by the exchange. Criticism also touched Bitcoin SV cryptocurrency, which Buterin called a confidence game.