Tether will be launching its stablecoin (USDT) on NEAR Protocol. With this, the cryptocurrency will be circulating on a total of twelve different blockchains. According to a press release shared with CryptoPotato, NEAR Protocol will be the next to adopt the leading stablecoin by means of total market capitalization – USDT. Commenting on the matter was Paolo...Read More
After one of its Founding Partner – Kyle Roche – made some astonishing claims in an inebriated state, two other law firms – Kirby McInerney LLP (Kirby) and Radice Law Firm, P.C. (Radice) – submitted a document this week to the court to remove the company as interim co-lead from the Tether and Bitfinex Crypto...Read More
Major stablecoin issuer Tether has refuted claims made in an earlier story by the Wall Street Journal (WSJ), stating that the publication discredited the company’s transparency efforts and questioned Tether’s profitability. The USDT issuer is no stranger to controversy, especially regarding questions surrounding its reserves. So far, the company has reduced its exposure to commercial...Read More
The authorities of the Mendoza province reportedly enabled citizens to pay government fees and taxes in cryptocurrencies. The region’s tax administration described the move as “the strategic objective of modernization and innovation,” which could give “taxpayers different means to comply with their tax obligations.” Contrary to Mendoza’s pro-crypto stance, Argentina’s central bank is not so...Read More
Tether – the issuer of USDT, the world’s largest stablecoin – is yet to freeze addresses associated with the privacy protocol Tornado Cash. That means USDT holders can still technically use the smart contract to obfuscate their funds. However, it remains unclear whether Tether’s permissiveness amounts to a violation of U.S. sanctions. Tether and Tornado...Read More
Leading stablecoin issuer Tether has hired accounting firm BDO Italia to replace Cayman Islands firm MHA Cayman in overseeing its attestation reports for USDT reserves. The USDT issuer said it plans to release its attestation reports every month, replacing the previous quarterly reporting arrangement. Tether Hires Major European Auditor Founded in 1965, BDO Italia is...Read More
Tether – the issuer of the world’s largest stablecoin, USDT – has confirmed its support for the upcoming Ethereum Merge. This puts both USDT and USDC on the same page, quelling doubts about a potentially combative hard fork in September. In an announcement on Tuesday, Tether emphasized that it is important not to cause confusion...Read More
Cryptocurrency scams have reportedly been one of the most common cyber offenses in Hong Kong during the first half of 2022, and 25% involved digital assets. The concerning number of such fraudulent schemes could be explained by the growing interest in cryptocurrencies displayed by many Hong Kong residents. A recent research classified the state as...Read More
After three months of continuous slumps, Tether’s USDT supply is starting to rise again. This trend could be indicative of a potential market recovery. The market cap of the world’s largest stablecoin saw a modest uptick of around 0.7%. The cash injected into USDT has been relatively small and was under $500 million. The first...Read More
Cryptocurrency exchange Bitfinex and stablecoin issuer Tether have collaborated with Hypercore and have collectively created a new platform called Holepunch and launched a fully encrypted peer-to-peer (P2P) video calling application – Keet. Factoring in Privacy According to the official press release shared with CryptoPotato, Keet will facilitate real-time audio/video calls, text chat, and file sharing....Read More
Tether, the company behind USDT, the largest stablecoin by market capitalization, revealed that it liquidated Celsius’s position without risk to its reserves. In a press release on Friday (July 8, 2022), Tether stated that beleaguered lending platform Celsius took an overcollateralized loan from the company, denominated in bitcoin (BTC). The stablecoin issuer said it has...Read More
Tether still has the largest market share of all the stablecoins, but it is now around 43%, according to CoinGecko. Glassnode reports that the USDT market share is a slightly higher 45% but still shows the same downward trend of its dominance. According to the Tether transparency report, there are 66 million USDT in circulation,...Read More
Paolo Ardoino, the chief technology officer (CTO) of Bitfinex and its stablecoin Tether (USDT), has reacted to reports that traditional hedge funds have joined retail traders in shorting USDT. Hedge Funds Betting Against USDT The Wall Street Journal (WSJ) reported Monday that a growing number of hedge funds had opened USDT short positions, worth hundreds...Read More
When traders and investors exit their crypto asset positions, they usually convert them into stablecoins before taking them off exchanges as fiat. That exodus has been going on for the past six weeks, causing the stablecoin market share to grow. Furthermore, this is despite the reduction in the supply of the world’s largest one, Tether....Read More
Just shortly after releasing a stablecoin pegged to the Mexican Peso, Tether has introduced a new product focusing on the British Pound. GBPT will first work on top of Ethereum, while other blockchain networks could be added in the future. The company’s announcement reads that the new stablecoin will hit the market in early July...Read More
Investors are fleeing from Tether (USDT), says on-chain data. The stablecoin giant, as a result, has lost significant market share amid a slew of market corrections. Tether’s Losing Market Share Tether currently sits on a $68 billion market cap, the lowest since October last year, down from the recently established all-time high of $83 billion....Read More
As per the latest data compiled by crypto analytic platform, IntoTheBlock, USDC stablecoin recorded its second-highest volume ever. USDC Winning the Tussle ITB said that with Bitcoin and Ethereum going down below $21k and $1,100, the total volume transacted on-chain on USDC reached $38.72 billion. Interestingly, this isn’t the first time that USDC has sailed...Read More
Tether – the company behind the leading stablecoin by means of overall market capitalization (USDT) – has publicly dismantled rumors about Asian Commerical Paper backing and more. The downturn in the cryptocurrency markets continues but Tether – one of the most prominent players in the industry – debunked some of the rumors that are running...Read More
Tether, the issuer of the world’s largest stablecoin, has announced the launch of USDT on the Tezos blockchain, thus expanding the number of networks supporting the asset to 12. The layer 1 network, Tezos, uses a variant of Proof-of-Stake (PoS), known as liquid Proof-of-Stake (LPoS), and is designed to undergo changes without initiating a hard...Read More
Tether – the company behind the world’s largest stablecoin – has now launched its premier Tether token (USDT) across Polygon. This will bring Tether’s utility to thousands of dapps running on the blockchain. Polygon is a layer 2 scaling solution for the Ethereum network. It allows for speedier transactions with lower fees, using technologies like...Read More
Tether announced the launch of a new type of a stablecoin, backed by Mexico’s national currency. Initially, MXNT will be available on three main blockchains – Ethereum, Tron, and Polygon. The press release dated May 26 informed that the new stablecoin will join Tether’s growing product line, which now consists of four fiat currency-pegged assets....Read More
Tether’s USDT stablecoin is beyond fully backed, according to the latest assurance report provided by accounting firm MHA Cayman. The firm found that Tether’s total assets are worth at least $82,424,821,101, while its total liabilities (including issued stablecoins) amount to $82,262,430,079. The State of Tether’s Reserves The report’s figures match those in Tether’s unaudited Consolidated...Read More
Tether, the company behind the largest stablecoin by market capitalization USDT, has seen a reduction in the asset’s circulating supply after investors withdrew over $7 billion from it. Investors Losing Confidence in Stablecoins Data from CoinGecko shows that USDT’s circulating supply is currently at $75.9 billion, which is a reduction from around $83 billion a...Read More
Cryptocurrency exchange Bitfinex, in collaboration with USDT issuer Tether, recently launched a digital asset fund and donated over $1 million in bitcoin to assist families in El Salvador affected by the ongoing gang violence in the country. Crypto Relief Fund Initiative is Bootstrapped With 25 BTC Bitfinex chief technology officer (CTO) Paolo Ardoino revealed that...Read More
Tether’s chief technology officer, Paolo Ardoino, said the company will reduce its commercial debt holdings, speaking to CNBC on April 13 at the Paris Blockchain Week Summit. The world’s largest stablecoin is currently backed by a mixed bag of commercial debt holdings, cash, and cryptocurrencies, but it has yet to produce a full official audit...Read More
Tether Operations Limited, the operator of Tether.io, has announced the launch of USDT on Polkadot’s canary network – Kusama. The company said the move will enable developers to compose trustless applications across chains, communities, and networks. Tether on Kusama According to the press release shared with CryptoPotato, USDT will be deemed with the asset ID...Read More
Stablecoins are cryptocurrencies that usually peg 1:1 to fiat currencies like the US dollar. For every stablecoin in circulation, supposedly, there should be a $1 bill or its equivalents as redeemable in the reserves. The rising concern regarding the security of stablecoins has caught lawmakers’ attention. The US Lawmakers Ask for Transparency According to the...Read More
Lugano, a city in southern Switzerland, has introduced Bitcoin and Tether in addition to its own LVGA Points token as legal tender. The initiative was backed by the collaboration between Tether Operations Limited, the tech company behind the largest stablecoin by market capitalization, USDT. Tether and the City of Lugano plan to work toward the...Read More
Amid being invaded by its eastern neighbor, which caused significant disruption to its financial networks, Ukraine and its authorities sought donations in cryptocurrencies. The community and other people responded swiftly with reports indicating that more than $13 million worth of digital assets were sent to the provided addresses. Ukraine Seeks Help in Crypto After weeks...Read More
Amid the current market crash, $1 billion worth of USDT was transferred from Tether’s treasury to Binance. The past couple of days were particularly devastating in both the cryptocurrency and the legacy markets. During Saturday’s trading session, Bitcoin’s price crashed to a low of around $34,000 on Binance, and it’s currently trading at around $35K,...Read More
