Home / Crypto News / Noble Bank of Puerto Rico safeguards Tether funds, confirms BitMEX study | CriptoNews

Noble Bank of Puerto Rico safeguards Tether funds, confirms BitMEX study | CriptoNews

Another investigation, this time from the Bloomberg chain, reported in May that "three people with knowledge of the matter reported that Noble Bank International, based in San Juan, Puerto Rico, took charge of of the banking activities of Bitfinex last year, "which would confirm the argument raised in principle by Bitmex.

Figures for the first quarter

The exchange house stated that during the first quarter of 2018 the bank deposits in the (IFE), including the Noble Bank, reached 3,500 million dollars, which represented an increase of 6.9% during the first three months of the year

"Total assets in the category were $ 4.1 billion, an increase of 7% in the quarter. This moderate growth coincides with a moderate increase in the volume of cryptocurrency trade, which was probably due to the continued growth of the Tether equilibrium and the cryptocurrency ecosystem, "said the exchange house in its report.

BitMEX said that in the quarter the value of Tether increased by 62.7%, reaching 2,300 million dollars. Another indicator that would be related to Tether is that of cash as a percentage of total assets, which was increased in the first quarter from 85.8% to 91%.

It is important to mention that the BitMEX signals are based on independent investigations do not seek to be conclusive and are limited to hypotheses that have not been officially confirmed or rejected by Noble Bank.

Featured image of Akarat Phasura / stock.adobe .com


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