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Welcome to the 126th Weekend Shift! What’s the deal? Over the weekend, we’ll update this post with some of the most interesting articles, podcasts, charts, and opinion pieces we’re too busy to write about. OK, only Crypto ? Not necessarily. We do that Monday to Friday, so we try to explore new subjects on weekends. Feel free to join in and submit entries on Twitter. Any topic is fair game. 42 mins ago The Context: What’s true for TrueUSD? A deep dive into the lies shrouding the various Truecoins by @BennettTomlin Subscribe and read: https://t.co/lP1zkM0NcL pic.twitter.com/pSlxX0v2VD — Protos (@Protos) July 7, 2023 42 mins ago one more time for the people in backhttps://t.co/GhCHEIkQ5m — H.E. Cas Piancey (@CasPiancey) July 7, 2023 ICYMI 40 mins ago OPNX is being funded by the illegal use of funds from Hodlnaut. This is despicable for @OPNX_Official to be raiding whats left of @hodlnautdotcom users’ hard-earned savings. Shout out to @ArkhamIntel...

Documents obtained by CoinDesk and Bloomberg as part of a freedom of information (FOI) request have revealed more details about Tether reserves from March 2021, including which banks it relied on and who was issuing the commercial paper that dominated its reserves during this period. Tether has previously shared the makeup of its reserves for this period with several news outlets. This included a pie chart that revealed that Tether had approximately half of its reserves in commercial paper. Several months later, Tether faced accusations that its reserves included commercial paper related to beleaguered Chinese property developer Evergrande, which it would categorically deny. Doesn't hold and never held. https://t.co/nwNh88R0QI — Paolo Ardoino (@paoloardoino) September 15, 2021 The documents reviewed don’t show any commercial paper from Evergrande, but do include a variety of other Chinese entities including, but not limited to: The Agricultural Bank of China B...

The market capitalization of Tether is nearly a billion dollar away from reaching a new lifetime peak while rival stablecoins struggle. Tether (USDT) has emerged as a clear winner amid the ongoing banking crisis and crypto crackdown in the U.S. On April 17, the U.S. dollar-pegged stablecoin's circulating market valuation reached nearly $81 billion, just 1.5% below its record high of $82.29 billion from a year ago. It has grown about 20% year-to-date (YTD) already and is now eyeing new all-time highs. USDT market capitalization monthly chart. Source: TradingView Tether rivals hit new yearly lows USDT's growth came as Tether ate up the market share of its stablecoin rivals, USD Coin (USDC) and Binance USD (BUSD). That is due to crypto traders' belief that Tether's operations have no exposure to the potential banking crisis contagion. For instance, the circulating market capitalization of the USD Coin, the second-largest stablecoin, has dropped over 25% YTD to $31.82 bill...