Tether

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

Tether’s Bitcoin holdings soar to $1.5B, says BDO Italia

May 11, 2023 1 min read

BDO Italia, an accounting firm, has released its latest attestation report for Tether, the stablecoin issuer, revealing that approximately $1.5 billion of Tether’s reserves, or 2% of the total, are held in Bitcoin at the end of the first quarter. This marks the first time Bitcoin has been listed as a line item in the report. The report also showed that Tether holds around $3.4 billion worth of precious metals,

Tether Takes Action Against Validator Address That Stole $25M from MEV Bots

April 11, 2023 1 min read

Tether, the issuer behind the popular stablecoin Tether USDT, has blacklisted an address that drained Maximal Extractable Value (MEV) bots for $25 million last week. The incident involved a rogue validator address that exploited a bug in the MEV-boost relay to outsmart the bots executing a sandwich trade. As a result, losses of nearly $25 million in various digital assets were incurred, making it the largest MEV exploit to date.

Tether Fights Back Against WSJ’s Accusations of Forged Bank Documents

March 6, 2023 2 mins read

Tether, the company behind the stablecoin USDT, has hit back against a recent report from The Wall Street Journal (WSJ) alleging that it had ties to entities that falsified documents to maintain access to banking services. In the March 3 report, the WSJ claimed that leaked documents and emails showed that Tether and its sister exchange Bitfinex had hidden behind third parties and fabricated transactions to open bank accounts. Tether

Tether Takes Action Against Child Abuse Content Platforms

January 26, 2023 1 min read

Tether and INHOPE have joined forces to increase the visibility and control of cryptocurrency payments used to finance child abuse content marketplaces. Through this collaboration, the two organizations are looking to develop a standard practice for the cryptocurrency industry to identify and report illicit marketplaces. Furthermore, Tether is working with law enforcement, financial intelligence units, lawmakers, and standard-setting bodies in order to gain a better understanding of how to identify

Tether USDT is available in over 24,000 ATMs in Brazil

October 21, 2022 1 min read

Tether, a stablecoin issuer, has announced that SmartPay would increase the Brazilian population’s access to the popular USDT stablecoin by making it available at over 24,000 ATMs across the South American country. “The obstacles and constraints imposed by inflation and a less-than-inclusive banking system have prevented many Brazilians from participating in the country’s developing economy,” said Paolo Ardoino, CTO of Tether in a statement. The executive said, “Adding tether tokens