USDT

USDT stablecoin issuer Tether buys 7,629 BTC worth $705 million

December 31, 2024 1 min read

Tether, the issuer of the USDT stablecoin, has significantly increased its Bitcoin holdings by acquiring 7,629 BTC, valued at approximately $705 million. This acquisition raises Tether’s total Bitcoin holdings to 82,983 BTC, worth around $7.68 billion, making it the sixth-largest Bitcoin holder globally. This move aligns with Tether’s strategy to allocate 15% of its profits towards Bitcoin purchases, a plan initiated in May 2023, as part of their broader effort

Tether invests $775 million in Rumble

December 22, 2024 1 min read

Tether, the company behind the USDT stablecoin, has gained attention for investing $775 million in Rumble, a video-sharing platform that emphasizes Bitcoin and cloud services. This plan, shared on December 20, involves a cash investment of $250 million and the option to buy up to 70 million shares at $7.50 each. Even with this investment, Rumble’s CEO, Chris Pavlovski, still controls the company. Tether’s CEO, Paolo Ardoino, pointed out that

Hong Kong moves closer to formalizing its stablecoin regulations

December 8, 2024 1 min read

On December 6, Hong Kong took a significant step towards regulating stablecoins by publishing a bill that outlines a comprehensive framework for issuers and marketers. This move comes as stablecoins gain traction as effective tools for cross-border transactions, with Standard Chartered referring to them as the crypto industry’s “killer app.” The proposed legislation mandates that stablecoin issuers and marketers obtain licenses from the Hong Kong Monetary Authority (HKMA), including those

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 (USDT) celebrates its 10th anniversary

October 7, 2024 1 min read

On its 10th anniversary, Tether, the issuer of the USDT stablecoin, announced the release of a documentary highlighting the role of USDT in combating inflation. The trailer features interviews with users from countries like Argentina, Turkey, and Brazil, showcasing how they have utilized the stablecoin to navigate high inflation rates. Notably, the teaser emphasizes that USDT accounts for 90% of Brazil’s daily transactions, with 80% of the country’s cryptocurrency transactions

Coinbase to delist all unauthorized stablecoins by year-end to comply with EU’s new MICA regulations

October 5, 2024 1 min read

Coinbase has announced its intention to delist all unauthorized stablecoins from its platform by the end of the year in response to the new Markets in Crypto-Assets Regulation (MiCA) requirements set by the European Union. This regulation aims to enhance the integrity of the cryptocurrency market, ensure financial stability, and educate consumers about digital currency risks. Under MiCA, stablecoin issuers must obtain electronic money authorization in at least one EU

Tether’s USDT stablecoin is approaching a $120 billion market cap

September 23, 2024 1 min read

Tether’s USDT stablecoin is nearing $120 billion, reinforcing its status as the leading stablecoin in the cryptocurrency market. The company has issued $35 billion in USDT over the past year, exceeding its primary competitor, Circle’s USDC. As of Q2 2024, Tether possesses in excess of $97 billion in US Treasuries, ranking as the 18th largest holder of US government bonds worldwide. Stablecoins such as USDT are utilitarian for daily transactions

Tether Dominates Stablecoin Market with $118B Supply

September 17, 2024 1 min read

Tether’s USDT stablecoin now holds more than 75% of the stablecoin market, a considerable increase from 55% in 2022. This increase is attributed to the growing demand for USDT as a reliable middleman between fiat currencies and digital assets. With a circulating supply of $118 billion, USDT has witnessed consistent adoption throughout crypto marketplaces, bolstered by its good financial performance. Tether earned $400 million in income over the last month,

A UK court officially recognizes Tether’s USDT as property

September 16, 2024 1 min read

The High Court of Justice in England has classified Tether’s stablecoin, USDT, as property, representing a crucial development for both institutional and retail investors. Crypto pundit GS posits that this verdict may facilitate increased adoption of USDT by establishing a clearer regulatory framework, thus diminishing regulatory ambiguity and enhancing its attractiveness to investors pursuing stability and legitimacy in their crypto assets. It may establish a global precedent for other nations,

Blockchain investigator ZachXBT accuses USDC issuer Circle of ‘profiting’ North Korea hackers’ group

September 15, 2024 1 min read

Blockchain investigator ZachXBT has accused USDC issuer Circle of benefiting from transactions tied to the North Korean hacking group Lazarus. The claims are serious, as Circle took 4.5 months to ban assets related to the Lazarus Group, compared to other major stablecoin issuers. ZachXBT also chastised Circle for failing to take measures to prevent the gang from laundering money through their platform. The USDT issuer and other stablecoin issuers blacklisted

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 to Integrate USDT Into the Aptos Network

August 19, 2024 1 min read

Tether has integrated with Aptos blockchain, allowing users to transact with USDT at a lower cost compared to more expensive networks like Ethereum. Aptos, co-founded by former Meta engineers Mo Shaikh and Avery Ching, aims to offer a scalable, efficient, and user-friendly infrastructure for decentralized applications and smart contracts. USDT’s supply has primarily grown in Tron and Ethereum, with current supplies of $60.82 billion and $52.99 billion, respectively. Other networks,