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The firm has filed an S-3 registration statement with the US SEC to convert its Digital Large Cap Fund (DLC Fund) into an ETF, which would allow everyday investors to gain exposure to multiple cryptocurrencies through a traditional stock exchange.

The attack specifically targeted UPCX’s management accounts, from which the hacker successfully withdrew 18.4 million $UPC tokens, valued at around $70 million. 

Despite a challenging start to the year for Bitcoin, with the cryptocurrency experiencing a 12% decline in Q1 2025—its worst quarterly performance in seven years—Tether has remained committed to its accumulation strategy.