Gauntlet, a decentralized finance (DeFi) risk management entity, seems to be facing some backlash on its latest proposal on the Aave governance forum after it was accused of fixing in elements of a previous one that was voted down by the community. The proposal in question seeks to mitigate the risks regarding a loan tagged...Read More
Tether – the company behind the world’s largest stablecoin USDT – signed a Memorandum of Understanding (MOU) with Georgia’s government. The partnership reinforces the firm’s position as “a pioneering infrastructure partner for cities and nations globally” and will assist the country in its effort to become a global center for blockchain technology. Georgia Strengthens its...Read More
Tether – the company behind the largest stablecoin – announced the launch of USDT on Kava (a layer 1 proof-of-stake blockchain network). Following the latest development, the token is now live on over a dozen networks, including Ethereum, NEAR Protocol, Solana, Tron, Algorand, and more. The stablecoin issuer praised Kava network for its scalability and...Read More
An analysis by crypto market data provider Kaiko revealed that USD Coin (USDC) is currently the most liquid stablecoin on centralized exchanges (CEXs), with approximately $38 million bids preventing a .1% price deviation of the asset. USDC’s liquidity is followed by that of Tether (USDT), Binance USD (BUSD), True USD (TUSD), and Dai (DAI). The...Read More
A wallet linked to Michael Egorov, the founder of decentralized exchange (DEX) and automated market maker protocol Curve, has reduced its on-chain debt by repaying 1.35 million USDT of a loan on the decentralized lending platform, Aave. Egorov’s move comes as Curve’s native token (CRV), used as the loan’s collateral, significantly declined in the past...Read More
USDT’s minor deviation from the greenback sparked concerns that the world’s largest stablecoin could be under pressure. Curve’s 3Pool – one of the top pools for stablecoin trading – was flooded with USDT sellers, which essentially indicated that traders were accumulating other stablecoins. The move imbalanced the ideal breakdown of 33.33% for each of its...Read More
Tether announced it will coordinate with a third-party exchange to conduct a chain swap as it wants to convert 750 million USDT from Tron to Ethereum ERC20. The total supply of USDT will not change during this process, as per the firm. A chain swap process entails moving cryptocurrencies from one blockchain to another, which...Read More
The stablecoin ecosystem has also been impacted by America’s war on crypto, with a clear divergence happening between the top two issuers. Tether supply has reached an all-time high of 83.36 billion USDT, according to the firm’s transparency report. Industry analyst Will Clemente commented: “The divergence from USDC is striking, reflecting easier access to treasuries...Read More
Tether (USDT), the world’s largest stablecoin, achieved a groundbreaking milestone by surpassing its previous all-time high market cap of $83.2 billion, a record set back in May 2022. This remarkable feat further cements Tether’s unrivaled dominance in the rapidly expanding stablecoin market, which currently totals an astonishing $130 billion, with USDT’s market cap surpassing the...Read More
Tether – the issuer of stablecoin USDT – announced expanding its presence in Georgia with an investment in a payment processing company called, CityPay.io. The move is deemed as an “important milestone” for the payment processing industry benefiting customers across Georgia and CIS. According to the official blog post, Tether aims to bring greater efficiency...Read More
The company behind the world’s largest stablecoin announced on May 30 that it wants to mine BTC using sustainable energy in the South American country. To do so, Tether has decided to invest in “renewable energy sources to support and promote sustainable Bitcoin mining.” The company’s statement noted that the South American nation is among the...Read More
Strike – a Bitcoin payments company and remittance app – announced the integration of the world’s largest stablecoin, Tether’s USDT. The latest move comes on the heels of Strike’s expansion into 65 additional countries and USDT-supported new app design, which was announced at Bitcoin 2023. Strike-Tether Integration The integration aims to address key challenges hindering...Read More
Tether – the company behind the largest stablecoin by means of total market cap – USDT – will be buying Bitcoin. It joins the rank of other large corporations by adding the primary cryptocurrency to its balance sheet. Tether revealed today that starting this month (May), the company will “regularly” allocate as much as 15%...Read More
Amid the banking turmoil in the United States, Tether (USDT) emerged as the preferred stablecoin. The resurgence was evident in its latest attestation report, which revealed that the stablecoin issuer recorded a net profit of nearly $1.5 billion in the first quarter of 2023. According to the official statement, Tether’s excess reserves reached an all-time...Read More
After Signature Bank collapsed last month, most of its assets and some of its loans were taken over by New York Community Bancorp (NYCB). All crypto-related clients, however, were told that their accounts would be closed in short order. Signet, Signature Bank’s proprietary software that allowed its crypto clients to transact in USD between such...Read More
Weeks after the failure of a series of US banks as well as the Credit Suisse chaos, the crypto market has considerably recovered but the same cannot be said for a prominent stablecoin that has served as a backbone for DeFi trades – USDC. The confidence in Circle-backed stablecoin remains severely battered as investors continue...Read More
Telegram has added a new feature enabling users to send each other the world’s largest stablecoin, tether (USDT). USDT runs on several blockchains, but for now, Telegram has added support for the stablecoin only on Tron. According to an update on March 22nd, USDT-TRON – TRC20 – has been added to the popular messaging app’s...Read More
The banking sector could potentially undergo a much-needed revamp, but until then, investors appear to be scrambling for a safety net. As the traditional financial world is rocked by the Credit Suisse chaos and the failure of a series of US banks, investors have flocked to the largest stablecoin, Tether (USDT). The turmoil has once...Read More
It’s been one year since the Swiss city of Lugano established Bitcoin and Tether (USDT) as de facto legal tender within its borders. Since then, how has its adoption initiative fared?On Monday, Tether published a breakdown of various milestones the city has reached around crypto infrastructure and education under “Plan B.” According to Tether’s post,...Read More
Leading stablecoin issuer Tether has once again slammed mainstream media, The Wall Street Journal, for publishing a report that claimed the firm and its affiliates falsified documents and shell companies to open bank accounts about four years ago. WSJ published the report on Friday, quoting emails and documents it received from Stephen Moore, one of...Read More
Tether Holdings Limited – the company behind the largest stablecoin USDT – revealed a net profit of around $700 million in the fourth quarter of 2022. It ended last year with excess reserves of $960 million and at least $67 million billion in consolidated total assets. Tether Remained Unfazed by the Bear Market Even though...Read More
Stablecoins have continued to play a very critical role in the crypto economy. The ongoing bear market also demonstrated that dollar-pegged coins like USDT and USDC witnessed a parabolic growth in market cap this year. However, top stablecoin issuers seemingly took a break from printing in December amidst a great deal of market turmoil and...Read More
Tether is back again with criticism of the mainstream media, which has once again called out the stablecoin provider for having potentially unreliable reserves. In response to the “recent cycle of Tether FUD,” the company has promised to reduce the secured loans in its reserves to zero by the end of 2023. What’s the FUD...Read More
In a new blog post, the centralized crypto exchange encouraged users to switch from USDT to USDC by waiving the conversion fees while highlighting the latter stablecoin as a “trusted and reputable digital dollar.” The development comes amidst a stablecoin war in the industry. Exchanges are stepping up to claim dominance of their native stablecoins....Read More
On Dec. 1, the Wall Street Journal published another attack on the crypto industry, targeting Tether this time. The outlet claims that the company has “increasingly been lending its own coins to customers rather than selling them for hard currency upfront.” It added that these loans add risk that the “company may not have enough...Read More
Dogecoin’s Shibetoshi Nakamoto believes a potential crash of the crypto exchange Binance or the stablecoin-issuer Tether could severely destabilize the entire industry. He also advised people to do appropriate research and understand the digital asset’s sector specifics before entering it. Binance/Tether Collapse Could be Devastating The Co-Creator of the memecoin Dogecoin – Billy Markus (better...Read More
Numerous major exchanges are disabling deposits and/or withdrawals for Solana-based variants of the top two stablecoins, USDT and USDC. The wave of delistings follows Solana’s major price crash in the wake of FTX’s collapse – an exchange known to be closely involved with the network and token. Scrubbing the Solana Stablecoins On Thursday, Binance announced...Read More
Tether has become the latest industry company to get involved with the ongoing saga revolving around FTX by freezing over 46 million USDT. The company said it had to comply with law enforcement agencies. All eyes in the crypto industry have been set on FTX for the past several days, ever since Binance decided to...Read More
Amid the chaotic meltdown, asset movement from Circle to FTX surfaced. It was also reported that Alameda could be the second-largest issuer of Tether. CEO of USDC issuer, Jeremy Allaire, assured the community that Circle has no material exposure to the troubled firms. Tether’s chief technology officer Paolo Ardoino also spoke on the matter. Circle’s...Read More
The hyperinflation, the collapse of the local banking system, and the significant depreciation of the currency prompted numerous Lebanese residents to embrace cryptocurrencies, including stablecoins. Some locals have also focused on bitcoin mining since they can use cheap hydropower from rivers and generate “fresh dollars.” What Triggered the Collapse? Lebanon, considered one of the most...Read More
