This Week in Crypto: Reddit Mod Protests, Tether Profits, and Dormant Bitcoin Rises

BeInCrypto
BeInCrypto

30 Jun 2023 2:00 PM

Crypto news: Why the US ranks 25th in economic freedom, Reddit's API controversy, Tether's booming profits, and the rise of dormant Bitcoin....

  • The United States has fallen to 25th in the world for economic freedom, primarily due to excessive spending and regulations imposed by Congress.
  • Singapore ranks first in economic freedom, attracting American crypto and fintech firms.
  • Reddit moderators are protesting against proposed changes to the site's data access policy, which would require payment for API access.
  • Stablecoin issuer Tether is predicted to make significant profits backed by high-earning U.S. treasuries.
  • Despite reaching new highs, the amount of dormant Bitcoin is increasing, potentially affecting price action.
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You May Ask

Why did the United States fall in the rankings for economic freedom?Which countries rank higher than the United States in terms of economic freedom?What are the proposed changes to Reddit's data access policy?How is Tether able to make significant profits?What factors contribute to the increase in dormant Bitcoin?

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