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Stock impact report

Trump's Commerce secretary pick is a crypto booster with ties to one of the industry's most controversial players [Yahoo! Finance]

Coinbase Global, Inc. - Class A (COIN) 
US:NASDAQ Investor Relations: convertedorganic.com
Company Research Source: Yahoo! Finance
But even by the standards of crypto — an alternative financial ecosystem in which some of the biggest frauds of the 21st century have taken place — Tether is a murky entity that has been dogged by investors' concerns about its operations. It is effectively an unregulated, offshore bank that's become a tent pole of the $3 trillion crypto industry. The way it works, briefly: You give a buck to Tether and it gives you a digital token, the lowercase-T tether, that essentially functions as a digital US dollar in the crypto-verse. The tether token is known as a stablecoin, a kind of crypto that was created to hold its value steady while others, like bitcoin and ether, swing wildly minute to minute. (Yes, even though they're called crypto- currencies , they're actually a garbage way to buy things.) While there's a lot to say about the risks of tether, let's focus for a moment the capital-T company that issues it and its No. 1 banker in the US, Lutnick. Tether was founded a decade ag Show less Read more
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