Litecoin’s Creator: Just Buy Bitcoin
A Charlie Lee clip made the rounds over the weekend after CoinDesk shared an interview clip of him saying that “creating Litecoin… was a lot of headache,” and that simply buying BTC and sitting on it “he’d be better off.” Of course, the quote was taken out of context on several X accounts considering Charlie still backs LTC but it does prompt a fun thought experiment: If Vitalik said the same thing about ETH, would it change your thesis? Read more →
Tether-owned firm sells crypto miner to companies run by its founder
Tether is the majority shareholder of Northern Data (ETR: NB2). Northern Data recently sold its BTC mining subsidiary, Peak Mining, to a group of companies that turns out is controlled by Tether execs for “up to $200 million.” Because Northern Data is a German company, they did not have to disclose related-party transactions.
To add even more complexity, just days after the sale, Rumble (RUM) – in which Tether owns 48% – agreed to acquire what’s left of Northern Data for ~$767 million. Under the deal, Tether will purchase $150 million in GPU services from Rumble and signed a $100 million advertising agreement.
What else? Tether also extended a €610 million loan to Northern Data. And based on the Rumble acquisition terms, half of the loan will convert to Rumble stock on closing… potentially giving Tether a majority stake in Rumble.
A lot of moving parts here, and we expect investors to begin taking sides on whether it is above board or not. To be continued… Read more →
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