The stablecoin initiative USDe by Ethena Labs has seen notable adoption, with its market cap surging by over 40% in the last week and by 400% in the last month, reaching $840 million. Following the setback of the Terra ecosystem’s downfall, concerns have been raised within the community about the launch of USDe. However, Arthur...Read More
At the beginning of last spring, the Wall Street Journal published an investigative article on Tether, Bitfinex, and related companies. The majority stake of both Tether and the Bitfinex exchange is owned by iFinex, a corporation established in the Virgin Islands. Controversial Article At the time, the Wall Street Journal claimed that the two companies,...Read More
Tether (USDT), the largest stablecoin by market capitalization, continues its growth by reaching a new milestone of $100 billion. Data from CoinGecko shows that the stablecoin recorded a market cap of $100.24 billion on Monday at 9:15 UTC before returning to levels below $99.7 billion. USDT Hits $100B Market Cap Tether’s new all-time high comes...Read More
Representatives from crypto giants Coinbase and Circle have urged the U.S. government to crack down on non-compliant international digital asset firms – some of which include their biggest competitors. Grant Rabenn, Legal Director of Financial Crimes at Coinbase, told Congress on Thursday that criminals are seeking out “offshore platforms” to avoid anti-money laundering rules enforced...Read More
Stablecoin issuer Tether experienced a “record-breaking” net profit surge, amounting to $2.85 billion in the fourth quarter of 2023. Around $1 billion of this profit stemmed from net operating gains, largely derived from interests in the US Treasury, with the remainder mainly coming from the appreciation of gold and Bitcoin reserves. Notably, there was a...Read More
Tether’s (USDT) circulating supply has long been a subject of intense speculation regarding its potential impact on the price of Bitcoin. Recent findings from CryptoQuant suggest a significant correlation between the supply of USDT and movements in Bitcoin’s price, particularly since the latter part of 2022. USDT Influx Fuels Bitcoin Surge The analysis indicated that...Read More
Tether (USDT) reserve on Bitfinex has seen a significant increase owing to whales on the platform. According to CryptoQuant’s analysis, the whales on Bitfinex have opted to close their leveraged positions, leading to a substantial surge in the USDT reserve on the platform. This strategic move has garnered attention, shedding light on intriguing aspects of...Read More
Stablecoin giant Tether quietly bought over $360 million worth of Bitcoin (BTC) at the start of the year, according to on-chain data. The purchase brings the company’s total Bitcoin holdings up to 66,400 BTC worth $2.7 billion. Tether’s Massive Bitcoin Buys According to Bitcoin market intelligence provider CryptoQuant, a blockchain address previously identified as Tether’s...Read More
The overall market value of cryptocurrencies has increased, leading to a decline in the dominance of stablecoins. Their share of the total crypto market cap has dropped from 17.3% to 7.8%. In a market characterized by a consistent rise in short-term US bond yields, approaching 5%, investors holding stablecoins face higher opportunity costs, prompting a...Read More
Tether, the entity responsible for the USDT stablecoin, has experienced a surge in market dominance from 50% to an impressive 71% throughout 2023, as reported by Glassnode. Meanwhile, Tether’s growth has managed to attract bad actors such as criminals, money launderers, and scammers in Southeast Asia, according to a United Nations report published on Monday....Read More
Ki Young Ju, the founder and CEO of on-chain analytics platform CryptoQuant, believes financial institutions in the United States prefer Circle’s USD Coin (USDC) to Tether’s USDT. In a Friday tweet, Ju revealed that the financial firms are “not too comfortable” with USDT and would rather worldwide crypto users execute their stablecoin transactions in USDC....Read More
Stablecoin total value locked (TVL) on the Tron blockchain experienced a slight decline in the early part of the second half of 2023 but ultimately surged to reach record highs of approximately $48 billion. This is according to a recent report by Reflexivity, which revealed that around 94% of this total value belonged to USDT....Read More
Tether’s total assets are not far away from $100 billion following a monumental rise over the past six years. The current figure for the firm’s total assets is $95.2 billion, according to its transparency report. Of that amount, $92 billion is in the dollar-pegged stablecoin, USDT. Tether Keeps Growing On Jan. 3, Tether and VanEck...Read More
Tether, the company behind the popular stablecoin USDT, announced a significant milestone in its growth, with its market value reaching $91 billion. It was also revealed that over 2023, the firm has added approximately $4 billion in excess reserves to its stablecoin’s consolidated reserves, showcasing its commitment to stability and resilience in the volatile digital...Read More
In 2023, digital assets experienced an exceptional year, witnessing a remarkable surge in Bitcoin prices by over 172%, with a correction of less than 20%. In addition to Bitcoin and Ether, capital inflows in stablecoins also remained positive. The market surpassed crucial technical and on-chain pricing models, and October emerged as a pivotal moment for...Read More
Stablecoin issuer – Tether – has placed six wallets on a blacklist, comprising five on the Ethereum network and one on Tron. The latest move reflects Tether’s increased proactive approach to blocking addresses. According to ChainArgos, a blockchain intelligence firm, there are a few questionable transactions associated with the Ethereum addresses, potentially related to the...Read More
Tether, the creator of the popular USDT stablecoin, has publicly disclosed letters sent to key U.S. legislative committees revealing its partnerships with the Secret Service and FBI. This update comes after Tether’s recent measures, which included implementing a wallet-freezing policy aimed at individuals on the U.S. Specially Designated Nationals list, freezing over 200 wallets. Tether’s...Read More
Tether, the company behind the largest stablecoin, has released the two letters it had sent to the US Senate Committee on Banking, Housing, and Urban Affairs and House Financial Services Committee. The letters are specifically addressed to pro-Bitcoin Senator Cynthia Lummis and Rep. French Hill. The main goal of Tether’s letters is to address issues...Read More
Crypto industry experts have been discussing Tether and its potential to become the dollar-pegged defacto central bank digital currency of the world. The comments come in response to Cantor Fitzgerald CEO Howard Lutnick, who told CNBC earlier this week: “I’m a big fan of this stablecoin called Tether…I hold their treasuries. So I keep their...Read More
Tether, the organization behind the widely-used stablecoin USDT, has taken a proactive stance in compliance with United States sanctions. The company recently announced the freezing of 161 Ethereum wallets, a move that aligns with the U.S. Office of Foreign Asset Controls (OFAC) list of sanctioned individuals. Tether Takes Proactive Stance in Compliance with US Sanctions...Read More
On December 5, 2023, Lugano, a Swiss City, announced the incorporation of the cryptocurrencies Bitcoin (BTC) and Tether (USDT) for tax and other municipal fee payments. This makes part of Lugano’s collaborative plans with Tether, Plan B, fashioned to revitalize the City’s financial system using Bitcoin tech. Lugano Dives into the World of Crypto Before...Read More
The government of El Salvador has teamed up with stablecoin issuer Tether to launch the “Adopting El Salvador Freedom Visa Program,” designed to benefit the economy, the culture, and the people of the nation. This new citizenship-by-investment initiative offers a residency visa and a route to citizenship for 1,000 individuals who are prepared to make...Read More
Tether (USDT) – the largest stablecoin globally, has experienced continuous growth in its market capitalization, reaching an all-time high of $90 billion on December 6th before retreating слигхтлъ to $89.9 billion. This surge suggests a renewed trust in the crypto market despite facing regulatory hostilities. Over the last month, the market cap has increased by...Read More
In a week that saw Bitcoin surging to an impressive $42,000, Tether, the company behind the world’s largest stablecoin, witnessed a substantial increase in the value of its BTC holdings, resulting in a staggering unrealized profit of over $1 billion. Since May 2023, Tether has amassed 4,083 BTC. Tether’s Bitcoin Holdings Soar According to data...Read More
In response to a New York Freedom of Information Law (FOIL) request initiated by Coindesk, Tether and Bitfinex announced dropping their opposition. According to the official blog post on November 24th, the decision underscored the companies’ “commitment to transparency” within the crypto sector, which aligns with the broader intention to maintain a balanced approach to...Read More
Tether, the world’s largest stablecoin issuer, froze $225 million worth of its dollar-pegged USDT tokens connected to a global “pig butchering” romance scam, the company announced on Monday. The freeze marks the largest in the company’s history, and applied to otherwise “external self-custodied wallets.” The action followed a joint investigation with crypto exchange OKX done...Read More
Major stablecoin issuer Tether is looking to inject $500 million into bitcoin mining operations as part of the company’s plans to become one of the largest miners in the world. With the firm currently building bitcoin mining facilities in South America and Central America, the USDT issuer also has ambitious plans to contribute one percent...Read More
A United States judge has concluded the dismissal of a class action lawsuit against stablecoin issuer Tether and its affiliate crypto exchange Bitfinex, two years after the plaintiff made a move against the firms. According to a blog post, Chief Judge Laura Taylor Swain of the U.S. District Court for the Southern District of New...Read More
Tether, the issuer of the world’s largest stablecoin USDT, is planning to launch five new projects in 2024, further expanding its reach beyond stablecoin issuance. Tether CEO Paolo Ardoino hinted at the new projects in a recent tweet, saying the company is “quite close” to adding “another extremely powerful piece of the puzzle” to its...Read More
A wallet linked to the well-known exchange Binance has been breached, leading to a significant loss of $27 million. The incident primarily involved the theft of Tether (USDT) and was brought to light by the reputable on-chain investigator ZachXBT. ZachXBT Reveals $27M Crypto Heist on Binance-Linked Wallet According to on-chain detective ZachXBT, a cryptocurrency wallet...Read More
