? Tether’s Global Flow is Dominated by Only Two Firms, Says a Report

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Tether’s Global Flow is Dominated by Only Two Firms, Says a Report

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According to a new study by Protos, a majority of the Tether flow is dominated by just two companies- Alameda Research and Cumberland.

The report says that between 2014 and October 2021, Cumberland and Alameda Research have received a projected $60.3 billion in Tether (USDT). This accounts for almost 55% of all the outbound volume ever.

Founded in 2017 by billionaire Sam Bankman-Fried, Alameda Research is a multistage crypto and fintech investment firm.

The company has acquired $36.7 billion, or almost a third of all Tether produced, out of which $31.7 billion (86%) was received in the past year alone.

Cumberland, a specialized crypto asset trading company within DRW Holdings, comes in second with $23.7 billion of USDT received. It received $17.6 billion (74%) in the past year alone.

The study provides further insights saying that over the past seven years, Tether has evolved into primary support for the crypto ecosystem.

It has become a tool for onboarding new money, pricing digital assets, managing, and growing liquidity, among other aspects of managing the crypto market.

Amazon Rolls Out Clip-Sharing Feature For Prime Video on iOS App

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Amazon is launching a new feature on Prime Video that will allow users to share video clips from their favorite movies and series with others.

Currently, this interactive-clip sharing feature is only available on iOS device users in the US.

The latest feature introduced by Amazon will help users to share Prime Video content video clips of up to 30 seconds on social media channels or through direct messages.

However, this new feature is currently available only on selected shows and movies. But Amazon plans to enable this feature in more titles soon.

While watching a particular show/movie, you will be able to view a ‘Share Clip’ button along with the other controls.

After a user clicks on the ‘Share Clip’ button, a 30-second video clip will be created. The users can also fine-tune the video to show any specific part of the content.

After fine-tuning the video clip, users can share the video using Apple’s built-in sharing feature and share it with others over iMessage or by posting it on social media.

Spotify Acquires Leading Audiobook Platform Findaway

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Spotify is entering the audiobook space by acquiring Findaway, an audiobook platform.

The financial terms of the deal were undisclosed. However, the deal is expected to be closed in Q4 2021, subject to regulatory review and approval.

Findaway works across the entire audiobook ecosystem and has several partnerships with audiobook publishers such as Apple iBooks, Amazon’s Audible, Google, and Storytel. It offers a global audio catalog and also owns voices to help authors for self-publishing.

With its acquisition, Spotify will accelerate its presence in the audiobook space. The acquisition will also help Spotify to further achieve its ambition of becoming the destination for all audio things- both for listeners and creators.

Spotify also plans to onboard Findaway’s full team of employees and then build on Findaway’s existing investments in the audio industry.

Together Spotify and Findaway will continue to innovate in the audio industry and work to eliminate current limitations and unlock better economic tools for creators.

Inworld AI Brings in $7 Million in Seed Funding

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Inworld AI nabs $7 million in its seed funding round. The funding was co-led by Kleiner Perkins and CRV and also saw participation from Meta (formerly known as Facebook).

Founded in 2021 by Ilya Gelfenbeyn, Inworld AI offers a platform for creating virtual characters for the virtual world, metaverse, and games.

Interestingly, each character created on the Inworld platform has unique characteristics and behaviors. These characters are aware of the context and the environment they are in.

Using Inworld AI’s platform, companies can implement their eCommerce, customer support, and operations in a virtual world. It can also make immersive true-to-life training sessions a reality.

Inworld AI will use the funds to empower its partners and creators to create and deploy virtual characters and employ them in various use cases.

Around the Web

? Sony is Reportedly Cutting PS5 Production: According to a report from Bloomberg, Sony has reportedly cut production plans for the PlayStation 5 by around one million consoles due to component shortages and logistic constraints. The tech giant was expecting to assemble 16 million units between April 2021 and March 2022; however, that number has reportedly dropped to around 15 million.

?️ Fitness Training Startup Ladder Raises $6.5 Million: Ladder, a U.S-based fitness training app, has raised $6.5 million in seed funding. The funding round was led by LivWell Ventures, with participation from additional investors Keller Capital, Brett Hurt, Danny Amendola, and Bill Shufelt.


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