Puerto Rico’s Noble Bank International, which is known for reportedly opening accounts for USD-backed token Tether and crypto exchange Bitfinex, is allegedly searching for a buyer, Bloomberg reports Thursday, October 2. Citing an unnamed person familiar with the case, Bloomberg reports that Noble Bank has lost Tether and Bitfinex as clients, among others, and is currently on the search for a buyer. The bank, which sources tell Bloomberg is no longer profitable, might sell for a price from $5 to $10 million, which is mostly formed by the value of its Puerto Rican license for international financial operations. Noble Bank …

Bitmex Research released an in-depth report on Tether today, Feb. 19, detailing the reasons why Tether is most likely backed by sufficient fiat reserves after all, and what problems with regulatory bodies Tether will most likely encounter in the future. Tether is a digital token backed by fiat currency, supposedly pegged 1:1 with the US dollar. Due to Tether’s lack of enough publically released bank audits, there are rumors that Tether does not actually have enough fiat in reserves to redeem all Tether tokens with US dollars if the need would arise. The Bitmex report attempts to refute those rumors …