The fee structure revision primarily affects institutional investors and high-volume traders.
The leading stablecoin issuer is comfortable holding its T-bills at a U.S. institution because it respects international sanctions, CEO Ardoino said in an interview.
Europe’s MiCA framework will enforce new bank reserve requirements for stablecoin issuers, raising concerns about systemic risks and stability.
Tether’s USDT is the world’s largest stablecoin, with a market cap nearing $100 billion. However, like many top blockchain projects, Tether has been the subject of many questions and inquiries. And for Tether, most of the questions swirl around its reserves, which serve as its primary selling point. Related Reading: Gensler Called ‘Worst Public Servant’ […]
Valentina Picozzi, an Italian artist, and orthodontist, became a Bitcoiner in 2012 and has been an activist artist since.
The Wall Street Journal cited unnamed individuals as the source of the claims that the United States government is investigating Tether.
The Bitcoin (BTC) market has been significantly disturbed over the last 24 hours following a series of troubling news reports. During this period, the crypto market leader has recorded notable downfalls with its price slipping below the $66,000 price mark. However, a crypto analyst with X username Luca has postulated this recent price decline can […]
Circle chief executive officer, Jeremy Allaire has confirmed that the stablecoin issuing company remains committed to launching an initial public offering (IPO). Interestingly, these comments have come amidst a controversial report on Circle’s biggest competitor Tether. Related Reading: Tether Proposes Bold Plan: Boron-Backed Tokens For Turkey’s Market—Here’s Why Circle Financial Standing Strong, No Need For […]
Bitcoin solidifying its position “above all key moving averages” suggests that bulls are “firmly in control” as long as the price holds above $66,500.
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
In a recent report by the Wall Street Journal (WSJ), it was alleged that Tether is currently under federal investigation for potential violations related to sanctions and anti-money laundering (AML) regulations in the US. The inquiry, reportedly led by prosecutors from the Manhattan US Attorney’s Office, is said to focus on whether Tether’s stablecoin, USDT, has been used by third parties to finance illegal activities such as drug trafficking, terrorism, and hacking, or to launder the proceeds from these activities. Tether CEO Denies Investigation Claims In response to these serious allegations, Tether has issued a statement strongly criticizing the WSJ’s reporting. The company called the article “wildly irresponsible,” asserting that it is inappropriate for the WSJ to publish such definitive claims without verified sources or corroboration from authorities. The stablecoin issuer also emphasized that it has no knowledge of any ongoing investigations, characterizing the report as based on “pure rank speculation.” Related Reading: Shiba Inu Inflows Soar 555% In 3 Months – Will The Momentum Continue? Tether’s CEO, Paolo Ardoino, also took to social media platform X (formerly Twitter) to further address the issue, stating, “As we told to WSJ, there is no indication that Tether is under investigation. WSJ is regurgitating old noise. Full stop.” This response underlines the company’s commitment to transparency in the face of these allegations and the increased scrutiny it has faced in recent years, not only from the US authorities but also from news outlets such as the WSJ, and its stance against what it considers to be unfounded allegations. Commitment To Combating Cryptocurrency Misuse The article from the WSJ also reportedly downplays Tether’s extensive collaborations with law enforcement agencies aimed at combating illicit activities involving cryptocurrencies. Related Reading: Bitcoin To Hit $125,000 By Year-End If Trump Wins, Says Standard Chartered Tether highlighted its proactive measures to work with the authorities to ensure that its platform is not misused by bad actors. Their response concluded: The article also carelessly glosses over Tether’s well-documented and extensive dealings with law enforcement to crack down on bad actors seeking to misuse tether and other cryptocurrencies. Featured image from DALL-E, chart from TradingView.com
Tether’s record market capitalization signals the potential start of the next bull run amid growing investor anticipation of a major Ethereum upgrade.
Cryptocurrency company Tether is currently under federal investigation for possible sanctions and anti-money laundering (AML) violations, according to the Wall Street Journal. The criminal inquiry, led by prosecutors from the Manhattan US Attorney’s Office, is examining whether Tether’s stablecoin USDT has been utilized by third parties to fund illicit activities, including drug trafficking, terrorism, and […]
Bitcoin appeared poised to make another run at $70,000, but a WSJ story of a criminal probe into the stablecoin issuer sent prices tumbling Friday afternoon.
Trading platforms and regulators are increasingly embracing cryptocurrency as collateral for trades.
Tether Holdings Ltd., the issuer behind the world’s largest stablecoin USDT, has proposed an ambitious plan to Turkey’s government. The plan aims to “modernize” the country’s boron market using blockchain technology. The proposal involves creating digital tokens backed by borate minerals, a key resource where Turkey controls over 70% of the global supply. Related Reading: […]
Turkey’s state-owned boron miner estimates the country has more than 70% of global reserves of borate minerals.
The business plan for WBTC is to increase the outstanding amount by five to 10 times what is now, just under $10 billion – using a geographically diversified custodial setup that might be more appealing to buyers outside the U.S
The Tether-backed company is talking to interested parties, it said. It may also see an IPO on the Nasdaq next year.
Institutional demand is driving a significant increase in onchain loans across DeFi protocols.
Tether Holdings, the issuer of the world’s largest stablecoin, USDT, is reportedly exploring lending options for commodities trading companies as it seeks new ways to deploy this year’s profits amid the broader market recovery. According to Bloomberg, the discussions involve potential US dollar lending opportunities with various firms in the commodities sector, which often grapples […]
The European Securities and Markets Authority declined to disclose whether USDt is “noncompliant” but said it is working on solutions to issues in the framework.
Argentina’s stablecoin market is one of the largest in the world in terms of share of stablecoin transactions, beating the global average by 17%.
The news comes amid the company’s 10-year anniversary celebration.
CCData estimates stablecoins will lose approximately $625 million in interest income for each 50-basis point cut. Further cuts in 2024 could reduce annual revenue by as much as $1.5 billion.
Both Robinhood and Revolut are reportedly considering issuing their own stablecoins as the industry continues to expand.
Vitalik Buterin noted that Celo’s second L2 testnet, Alfajores, will be upgraded to Ethereum L2 on Sept. 26.
It's an important step toward winning the tokenized RWA market as Circle continues to vye with stablecoin leader Tether.
Tether (USDT), the world’s largest stablecoin and the third largest crypto in market cap, has asserted its dominance in the cryptocurrency market and is now close to achieving a significant milestone. Recent data shows a massive influx of money into the crypto industry in the past week, with over $1 billion going into stablecoins. Related Reading: Solana Jumps 10% As Fed Eases Rates, Analysts Eye Even Higher Gains Naturally, most of this inflow has gone into Tether (USDT), pushing its market cap closer to an unprecedented $120 billion. Tether (USDT) Leads The Stablecoin Market Stablecoins are one of the innovative applications of blockchain technology. Their use cases have grown over the years from trading other cryptocurrencies to a growing use in lending platforms and payments for goods and services. The stablecoin market has witnessed massive growth since the beginning of the year. This growth has been largely driven by increased investments in the crypto industry since the beginning of the year, contributing to their adoption. According to data from IntoTheBlock, the stablecoin market had a total market cap of $122 billion in October 2023. However, the bull run since then has pushed the total market cap to over $169 billion in September 2024, representing an increase of 38.5%. Furthermore, data shows that the inflow has increased by 1.71% from last month. At the helm of the stablecoin market is Tether, which has the largest share of the market cap. As of this writing, Tether’s market cap sits just shy of the $120 billion mark, with a consistent flow of new capital pouring into the stablecoin. Particularly, Tether currently has a market cap of $119 billion, representing a 70.4% stake among all stablecoins. USDC, the second-largest stablecoin, comes in at a current market cap of $35.88 billion. This growth has been largely due to USDT’s ability to maintain its value pegged to the U.S. dollar over the years, making it an attractive option for traders seeking stability amid market turbulence. What Lies Ahead For Tether And Stablecoins? The influx of capital into the stablecoin sector highlights the growing interest in stable digital assets, especially with growing concerns of inflation and the weakening of fiat currencies in developing countries. At this rate, Tether dominance among stablecoins is set to keep growing. Just last week, the Tether Treasury minted $1 billion USDT on the Ethereum blockchain and another $100 million USDT on the Tron blockchain. Interestingly, other lower market cap stablecoins have also been benefiting from this interest surge in stablecoins. One of these is First Digital USD (FDUSD), whose market cap has seen an increase of 47% in the past 30 days and now stands at $2.94 billion. Related Reading: Catizen (CATI) Soars 10% Following Multiple Exchange Listings Adding to this momentum is Ripple, the company behind XRP. Ripple recently announced plans to enter the stablecoin space with its Ripple USD (RUSD) stablecoin with plans to connect global financial firms and institutions. Given Ripple’s established presence in the global banking sector, RUSD is expected to experience significant growth after its launch. Featured image from Pexels, chart from TradingView
Tether’s market share has surpassed 75% of the entire stablecoin market, fueling concerns over the stablecoin giant’s influence over the crypto industry.