Tether

Tether is being investigated by the US Treasury Department

October 26, 2024 1 min read

The USDT stablecoin, issued by Tether, is reportedly under investigation by the US Department of Justice for potential violations of anti-money laundering laws. This news comes on the heels of Tether’s CEO, Paolo Ardoino, advocating for clearer regulations in the cryptocurrency space. According to the Wall Street Journal, the inquiry is focused on whether Tether has engaged in activities that could violate sanctions or facilitate money laundering, including connections to

Tether invests $100 million in agricultural firm Adecoagro, marking a strategic shift

September 9, 2024 1 min read

Tether, the USDT stablecoin issuer, has allocated $100 million to Adecoagro, an agricultural enterprise, signifying a strategic initiative to broaden its portfolio outside digital finance. The investment, executed between July 29 and August 16, 2024, entailed Tether acquiring approximately 10 million shares with the company’s working resources. Adecoagro, with a valuation of $1 billion, is a significant entity in the agricultural industry, functioning in Argentina, Brazil, and Uruguay. The company

Tether Operations Limited invests $3 million in Kem, a money transfer and financial management app

August 14, 2024 1 min read

Tether Operations Limited is making a $3 million investment in Kem, an app for transferring money and managing finances, in order to bring the stablecoin Tether USD (USDT) into the platform. Between July 2022 and June 2023, the Middle East and North Africa area received a total of $389.8 billion in on-chain value, making it the sixth-largest crypto economy worldwide. The investment seeks to enhance economic circumstances in Kuwait, Bahrain,

Tether freezes $29.62 million in USDT linked to Cambodia’s Huione Group

July 15, 2024 1 min read

Tether has seized $29.62 million in USDT associated with illicit activity involving Cambodia’s Huione Group, showcasing its dedication to upholding the security of its stablecoin amidst growing regulatory scrutiny. Nevertheless, the address in question persisted in transferring Circle’s USDC stablecoin, casting doubt on the efficacy of the freeze. Bitrace, a blockchain security company, disclosed that the wallet “TNVaKW,” which contained the immobilized USDT tokens, was associated with Huione Group’s guarantee

Tether (USDT) to launch a Gold-backed stablecoin with overcollateralized reserves

June 17, 2024 1 min read

Tether, the most valuable stablecoin in terms of market capitalization, is introducing a new digital asset that will be referred to as aUSDT. This asset will be backed by over-collateralized Tether Gold (XAUT). The Alloy by Tether service includes a new category of tethered assets, and this is the first product that comes from that offering. Using stabilization measures such as over-collateralization with liquid assets and liquidity pools in secondary

Tether (USDT) to invest $1B in AI and Biotech sectors

June 12, 2024 1 min read

Over the course of the next year, Tether Holdings Inc., the stablecoin powerhouse that is responsible for USDT, has said that it intends to invest more than $1 billion in the fields of artificial intelligence and biotechnology. Paolo Ardoino, the CEO of the company, is in charge of the investment arm of the company, which intends to make investments in a variety of industries, including data, finance, and neural implants.

Tether announces a new P2P financial markets terminal using Holepunch technology

May 19, 2024 2 mins read

Tether’s Holepunch-powered peer-to-peer (P2P) financial markets terminal will eliminate middlemen and transform financial market data. CEO Paolo Ardoino said the corporation will spend heavily in this endeavor to make a difference. However, product details are still missing. Tether CEO Paolo Ardoino said on X that the business would substantially invest in this new P2P financial markets terminal. To emulate USDT’s financial market success, eliminate monopolistic middlemen. Ardoino stated, “Any exchange

Deutsche Bank questions Tether’s stability and transparency in new stablecoin report

May 13, 2024 2 mins read

Deutsche Bank Research’s examination of stablecoins, namely Tether’s USDT, ignited a discussion among the financial sector. This question arises when stablecoins face scrutiny over their functionality and reliability. The study analyzed 334 instances of currency pegs from 1800 to the present and found that just 14% of them maintained stability. The future stability of stablecoins such as USDT, which aim to mimic the value of established currencies like the U.S.

Tether buys 8,889 BTC, boosting its reserves to 75,354 BTC, now worth $5.26B

April 1, 2024 1 min read

Tether has augmented its Bitcoin holdings by acquiring an extra 8,889 bitcoins, which are now worth at $627 million. This acquisition has resulted in a total reserve of 75,354 BTC for Tether. The initiative started in September 2022 with the objective of expanding Tether’s portfolio to include assets other than conventional ones such as cash and Treasury bonds. CEO Paolo Ardoino clarifies that Tether is allocating a portion of its

Tether (USDT) makes almost $3 billion in quarterly profits

February 1, 2024 1 min read

Tether Holdings Limited has reported a “record-breaking” quarterly net profit of $2.85 billion in the fourth quarter of 2023. The details are outlined in the “Consolidated Reserves Report,” which BDO audited. According to the report, interest on US Treasury securities accounted for around $1 billion of net operating profits, with the remainder attributed to the appreciation of Tether’s gold and Bitcoin reserves. According to the report, Tether’s consolidated assets total

UN report reveals Tether USDT’s role in money laundering and scams

January 16, 2024 1 min read

According to a recent United Nations report, Tether (USDT), a popular stablecoin, has been linked to money laundering and scams in Southeast Asia. The report sheds light on the various ways Tether is abused, with a special emphasis on its link to illegal online gambling sites. According to the UN findings, Tether is frequently used in illegal activities, particularly illegal online gambling. The stablecoin is a popular choice for those

Tether (USDT) Records $1 Billion Profit in Q2

July 31, 2023 1 min read

As of June 30, 2023, Tether ensured that the equivalent of USDTs in circulation was fully backed by assets in its treasury. According to the audited report, Tether recorded a surplus of $850 million in company assets during the second quarter. In total, the company assets yielded a surplus of $3.3 billion. Notably, Tether has decided to retain the profit and maintain the equivalent of USDT above 100%, further reinforcing