EN 
CN 
SGT 0815
📉 BTC | $53,954 (-$1,162, -2.1%)
📈 ETH | $3,601 (+$42, +1.2%)
📈 XRP | $1.07 (+$0.003, +0.3%)
📈 LTC | $180 (+$2, +1.3%)
📉 Total Crypto Market Cap: $2.29T (+0.7%)
🔎 Bloomberg reporters have published an intriguing investigative piece claiming that despite their best efforts, they are finding it very difficult to find evidence of Tether’s supposed $69 billion in reserves to back their issued stablecoins.
🚨 On what they did manage to find? Evidence that Tether owns:
- Billions of dollars in short-term loans to large Chinese companies – a potential area of danger given the recent Evergrande debacle.
- At least $1 billion placed with crypto lending platform Celsius – with possibly billions more to other crypto companies as well, receiving Bitcoin as collateral.
🤔 The FDIC has been reportedly studying the possibility of Deposit Insurance for stablecoins, a possibly positive development given the increasing uncertainty swirling around major stablecoins such as Tether.
👮 A new Federal Reserve paper has stated that cryptocurrencies could “reduce reliance on the US dollar”, an opinion that may possibly alarm regulators.
Cryptocurrency CFD is available for trading on Phillip MetaTrader 5 (MT5).
Features of trading CFD
- Trade in both the bull and the bear markets
The ability to enter a long and/or short position allows traders to take advantage of both rising and falling markets. - Smaller barrier to entry
CFDs typically have flexible and smaller contract sizes. This means that traders will be able to enter into a CFD contract with a modest amount of capital. - No expiration date or risk of delivery
Unlike futures which commonly have a fixed expiration date, CFDs allow traders to perpetually hold the position(s). CFDs are cash settled, no need to worry about the delivery of the underlying asset.
Trade Bitcoin, Ethereum, Litecoin, and Ripple CFDs at zero commission on Phillip MetaTrader 5, a dynamic platform that offers low spreads. Integrated with Acuity Signal Centre and Trading Central Indicators, and available on mobile, web and desktop app, you will never miss a trading opportunity with Phillip MT5.
Download Trading Central’s Market Buzz for updates on more topics.
What’s more? Phillip MT5 is now supported on Mac OS! To install, simply download the file below and complete a simple installation process.
