Crypto Market Update: SEC Approves Position Limit Increase, PayPal Restructures

The US Securities and Exchange Commission (SEC) has approved Nasdaq ISE to increase the position limit for IBIT options from 250,000 contracts to 1 million contracts.

This decision follows a review of IBIT's liquidity and market size, which led the SEC to believe that increasing the limit will not increase the risk of market manipulation.

Tether has also been involved in a significant development with Belo, a Latin American digital wallet that raised $14 million in Series A funding. The funding round was led by Tether, with participation from Titan Fund and others.