According to stablecoin firm Tether, approximately $127 billion in Tether-USD tokens (USDt) are currently in circulation.
The Tether-US dollar stablecoin's market capitalization has topped $126 billion, as approximately $7 billion in new USDt was minted.
Prosecutors petitioned a New York federal court to seize crypto they alleged is linked to bribes paid to Chinese officials by Sam Bankman-Fried.
Crypto is a popular target for cybercriminals, who rely on its anonymity and lack of regulation. These crimes often target individuals online through hacking and ransomware. However, there have been a few aggressive crimes in the past that target unsuspecting individuals in person and broad daylight. Thailand news agencies report that a Ukrainian tourist recently lost […]
Stablecoin exchange balances grew to a yearly high of $41 billion this week, providing dry powder to buy digital assets, one analyst noted.
Tether has minted $5 billion worth of the USDT stablecoin over the past week amid Bitcoin’s rally near the $90,000 milestone. Data from blockchain analytics platform SpotOnChain reveals that Tether began this series of USDT issuances with $1 billion minted on Nov. 6, contributing to Bitcoin’s climb to a record high of $76,200. The firm […]
The post Tether prints $5 billion USDT in 5 days adding to bull run market liquidity appeared first on CryptoSlate.
The WDK will enable developers to integrate non-custodial wallets for USDT and Bitcoin into any app, website or device.
The general cryptocurrency market has seen notable upward momentum in the past few weeks, with Bitcoin, the largest digital asset, leading the market once more toward what several seasoned crypto analysts believe to be one of the biggest bull runs ever. Bitcoin Heading Toward More Higher Levels In his latest report, Doctor Profit, a market […]
Stablecoins like USDT and USDC are shining stars of digital finance. Their stability is due to their 1:1 peg to the US dollar. As a result, their use for everyday transactions and overall acceptance are increasing quickly worldwide. In Singapore, for example, the stablecoin payment value reached $1 billion in the second quarter of the […]
The post USDT or USDC? Key considerations when choosing a stablecoin appeared first on CryptoSlate.
The stablecoin firm previously came under fire from Wyoming Senator Cynthia Lummis for allegedly facilitating illicit finance activities.
The partnership between The Open Network (TON) and Tether has reached new heights as the USDT stablecoin experienced a massive surge in just a few months since the start of their collaboration. A remarkable feat that saw a massive increase in the USDT on TON hitting over $1 billion in only six months, an indicator of the capability of the emerging dynamic duo. Related Reading: Bitcoin Mining Costs Spike To Nearly $50K As Miners Look To AI For Survival Exponential Growth Analysts said that TON keeps on moving upward as many investors start to adopt Tether’s stablecoin. In a report, CryptoQuant said that in the last six months, USDT on TON rose by a whopping 670%. CryptoQuant added that TON only had $130 million worth of USDT in May 2024, but after half a year, the stablecoin ballooned to $1.02 billion. Analysts attributed the massive hike to the increasing investors’ preference to use TON, making the network a significant player in the stablecoin sector. They also believed that the stablecoin market will continue to thrive and flourish rapidly which will open opportunities for emerging blockchain networks. Currently, stablecoins have gained popularity worldwide. These digital monies are used to facilitate various activities such as cross-border transactions and personal payments. Data showed that for instance, USDT is being utilized by 10% of all commercial transactions conducted in South Korea. Low Transaction Fee CryptoQuant said that the TON blockchain is an excellent substitute for stablecoins because of its low transaction costs, saying that its “competitive transaction fees” fuel the increasing number of USDT transactions on TON. Analysts considered its remarkably low fees as one of its most significant advantages because it makes TON more attractive to users who conduct regular transactions. TON allows these users to save money while partaking in the cryptocurrency market. Statistics showed that transaction fees have decreased significantly in the past few months. The median transaction fee in June 2024 stood at $0.061, but it went down to $0.035 by October 2024. A significant reduction greatly contributed to the TON’s rapid adoption because users are seeing the network as an option for their transactions. Related Reading: Why One Analyst Says Now’s The Time To Buy XRP—Before It Hits $14 USDT Expected To Expand USDT stablecoin has emerged as a key player in the market today, reaching a USDT supply of about $120 billion. CryptoQuant predicted that the USDT supply would expand and could reach $200 billion in the bull rally. “This growth will likely drive further demand for fast and low-cost blockchain networks like TON, leading to continued growth in the amount of USDT on the TON network,” the analyst added. CryptoQuant also sees that TON will have the opportunity to expand in the stablecoin ecosystem by providing “robust infrastructure and competitive advantages.” Featured image from Medium, chart from TradingView
Tether CEO Paolo Ardoino has dismissed recent speculation about the company’s plans to launch a proprietary blockchain network. In a Nov. 3 post on X, Ardoino clarified that Tether does not intend to create its blockchain. He emphasized the company’s position by writing: “Tether is not planning to build an official blockchain at this time.” […]
The post Tether CEO quashes speculation of launching a Tether blockchain ‘at this time’ appeared first on CryptoSlate.
“Police are inevitably corrupted.” A quote from Frank Herbert’s novel God Emperor of Dune may hold true in the case of a group of cops in Thailand who allegedly prey on foreign nationals to extort money. A Chinese-Vanuatu expat who filed a complaint at Thailand’s law enforcement agency said that the extortionist cops coerced him […]
Tether’s consolidated profit in 2024 has reached $7.7 billion, with $14.2 billion in equity and total assets of $134.4 billion.
The company's flagship stablecoin USDT is the third-largest cryptocurrency with a $120 billion market capitalization.
The U.S. Treasury Department's panel of Wall Street advisers see the tokenization of U.S. debt and other assets providing some significant potential advances, the group contended in a new report – while also envisioning an inevitable need for the kind of heavy central hand that may rankle the crypto sector.
The United States Treasury Department is taking an interest in stablecoins and tokenization.
Bitcoin fell short of its all-time high, but multiple Bitcoin price metrics show BTC price on target to hit new all-time highs
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’ […]
The Wall Street Journal cited unnamed individuals as the source of the claims that the United States government is investigating Tether.
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 […]
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.
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: […]
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 world’s largest asset manager, BlackRock, aims to expand its foray in the digital asset industry following the successful launch of spot Bitcoin and Ethereum ETFs in 2024. In a new venture, the American asset manager is attempting to push the adoption of its money-market token BUIDL as a collateral asset in the crypto derivative […]
The US-based consumers’ adoption of stablecoins is facing a slowdown in 2024 even when there is increasing activity in Bitcoin that rose in popularity following the launch of the spot Bitcoin exchange-traded funds. Related Reading: Survey: Trump Leads Harris By 18%, But His Token Project Tells A Different Story The graph below shows a decline […]