RoboFi News Review: Top Crypto News of the Week

RoboFi- Kate

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RoboFi_VICS

3 min readAug 4, 2023

This week’s news roundup is presented below.

Stablecoin Tether’s reserves hit record $86.5 billion in second quarter

On Monday, Tether, the world’s largest stablecoin, reported a 5.7% growth in assets, amounting to $86.5 billion during the second quarter of 2023. Moreover, the company achieved an “operational profit” of over $1 billion, representing a significant 30% increase compared to the previous quarter. Read More.

Crypto stocks dip after bitcoin slumps to six-week low

On Tuesday, the shares of cryptocurrency and blockchain-related companies experienced a decline during early trading hours. This drop was triggered by Bitcoin, the world’s largest cryptocurrency, reaching a six-week low following a security breach at Curve Finance. Curve Finance is a platform that enables users to borrow and trade cryptocurrencies. Read More.

Binance did monthly transactions worth $90 billion in banned China market, Wall Street Journal reports

According to a report by the Wall Street Journal, Binance users engaged in cryptocurrency-related trades totaling $90 billion in China within a single month. It’s important to note that cryptocurrency trading has been deemed illegal in China since 2021. The information was sourced from internal figures and statements made by current and former employees of the exchange.. Read More.

US SEC gets emergency relief to halt Digital Licensing’s crypto asset fraud scheme

On Thursday, the U.S. Securities and Exchange Commission (SEC) announced that it successfully secured emergency relief to put a stop to a crypto asset fraud scheme conducted by Utah-based Digital Licensing Inc. The fraudulent scheme involved 18 defendants. As part of the emergency measures, the SEC obtained a temporary asset freeze, a restraining order, and other necessary relief against Digital Licensing, which operates under the name “DEBT Box,” and its four principal individuals. Read More

Coinbase revenue beat estimates, executives expect to win battle with SEC

Coinbase Global (COIN.O), a prominent cryptocurrency exchange, exceeded revenue expectations for the second quarter of the year, thanks to increased interest income. Additionally, company executives expressed confidence in their legal dispute with the U.S. securities regulator. In June, both Coinbase and its competitor Binance were sued by the U.S. Securities and Exchange Commission (SEC). Read More

About RoboFi

RoboFi (https://robofi.io/home/) is a Defi platform that envisions a marketplace for revolutionary Dao crypto trading bots. Through its IBO (Initial Bot Offering) system, community members can maximize their earnings in an easy, simple, and secure way. We create a safe and transparent environment based on blockchain technologies that help developers bring crypto trading bot platforms to the market. In addition, individuals will have easy access to these bot applications, thereby generating more earning opportunities. RoboFi ecosystem is fueled by the VICS token.

About VICS

VICS token has a distinctive and enticing concept. VICS is the BEP-20 token, built on the Binance smart chain. It is a core utility token in the RoboFi ecosystem, the reliable crypto trading bot marketplace. One important utility is to own the governance token of DABots and participate in an IBO (Initial Bot Offering) to receive additional incentives. VICS is available on major exchanges for trading.

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