TETHER, BITFINEX REPORTEDLY DESERTING ‘UNPROFITABLE’ NOBLE BANK

Noble Bank, the “non-fractional reserves” institution which was once the primary reserve bank for Tether (USDT), is facing competition from other banks amid claims it is “no longer profitable.”

Noble Bank, the “non-fractional reserves” institution which was once the primary reserve bank for Tether (USDT), is facing competition from other banks amid claims it is “no longer profitable.”

NON-FRACTIONAL AND NON-PROFITABLE?

As Bloomberg reports October 1, Noble, registered in Puerto Rico, is now seeking a buyer on the back of the back of lax revenues stemming from 2018’s prolonged cryptocurrency bear market.

Most importantly, according to an unidentified source, the bank’s major clients — Tether and cryptocurrency exchange Bitfinex — have opted to look elsewhere for banking support.

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