ChainCatcher news, according to Bloomberg, Tether CEO Paolo Ardoino confirmed in an interview that the company is interested in financing commodity trading, but emphasized that discussions are still in the preliminary stages. Ardoino stated, "We are interested in exploring the possibilities of different commodity trading; the future potential is huge, but we may not disclose how much we intend to invest in commodity trading, as we are still cautiously formulating our strategy."ChainCatcher previously reported that, according to Tree News, the stablecoin issuer Tether plans to explore providing loans to commodity trading companies.

ChainCatcher news, according to market news, Tether is exploring the possibility of providing loans to commodity trading companies.

ChainCatcher news, according to Tree News, stablecoin issuer Tether plans to explore providing loans to commodity trading companies.

ChainCatcher news, according to Bloomberg, at least two top Russian metal producers have begun using Tether's stablecoin and some other cryptocurrencies to settle certain cross-border transactions with their suppliers. Company executives stated that they refused to disclose their identities due to the information not being public. In some cases, settlements are completed via Hong Kong.Digital currency expert and co-founder of Resolv Labs, Ivan Kozlov, stated that in countries facing dollar liquidity issues and capital controls, using cryptocurrencies, especially stablecoins pegged to the dollar for cross-border settlements, is a relatively common practice, and not just in the commodities sector.The growing use of cryptocurrencies in settlements also indicates a shift in the Russian central bank's attitude towards the industry. Previously, the Russian central bank considered a complete ban on the use and creation of all cryptocurrencies, but in November last year, the head of the Russian central bank, Elvira Nabiullina, told parliament that she supports trials of such payments in international transactions.

ChainCatcher news, according to Cointelegraph, despite being sentenced to 25 years in prison for fraud, FTX co-founder Sam Bankman-Fried (SBF) still insists on his innocence. During his planned appeal, he has turned to commodity trading—specifically rice. In his first interview since being incarcerated in August 2023, he stated that he survives on beans and rice, with rice becoming a form of currency in prison. He joked that the arbitrage opportunities in prison are better compared to his past as a high-frequency trader.In the interview, SBF expressed his view that he is the "scapegoat" for the FTX collapse. He admitted that his only oversight was allowing FTX to be in a position "vulnerable to bank runs and the nefarious actions of competitors," but believes that a reasonable punishment should be civil rather than criminal. Reports indicate that SBF still does not consider himself guilty, portraying himself as an innocent participant and complaining about his failure to negotiate adequately with prosecutors.