Browsing:USDT

Tether has augmented its Bitcoin holdings by acquiring an extra 8,889 bitcoins
3 weeks ago 1 min read

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

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 income, up to 15%, from stablecoin reserves to invest in Bitcoin. This decision is based on Bitcoin’s scarcity and widespread use. The implementation of this strategic maneuver has led to

Tether (USDT) makes almost $3 billion in quarterly profits
3 months ago 1 min read

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

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 more than $97 billion, which includes US Treasury securities, reverse repo, money market funds, Bitcoin, and gold. Cash and cash equivalents account for 90% of the company’s assets and serve

3 months ago 1 min read

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

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 orchestrating scams and engaging in money laundering schemes throughout Southeast Asia. The report also reveals the use of Tether in hidden frauds, such as “pig butchering,” which is frequently associated

Tether Implements New Policy to Freeze Wallets on US Sanctions List for Enhanced Crypto Security
5 months ago 1 min read

Tether Implements New Policy to Freeze Wallets on US Sanctions List for Enhanced Crypto Security

Tether, a well-known crypto company, has implemented a new policy. The policy, which goes into effect on December 1, 2023, entails freezing wallets associated with individuals on the US Office of Foreign Asset Controls (OFAC) list. This decision demonstrates Tether’s commitment to complying with US regulations and strengthening crypto security measures. Tether’s new CEO, Paolo Ardoino, is leading the strategic initiative to freeze wallets linked to sanctioned individuals. Ardoino’s leadership exemplifies Tether’s proactive approach to improving security protocols and ensuring compliance with global regulatory standards. The decision demonstrates Tether‘s commitment to preventing token misuse and remaining compliant with evolving legal

Tether Freezes Record $225 Million Amidst U.S. Investigation into Human Trafficking Scam
5 months ago 1 min read

Tether freezes over $225 million worth of USDT tokens

Tether, a stablecoin provider, has frozen over $225 million in USDT tokens, the largest-ever freeze for a stablecoin. This action comes after the US Department of Justice (DOJ) conducted a thorough investigation into an international human trafficking operation, revealing Tether’s commitment to working with law enforcement. For months, the DOJ had been investigating a Southeast Asia-based syndicate using Chainalysis blockchain analysis tools. Tether actively assisted the investigation by identifying wallets associated with the criminal group and freezing the USDT associated with the illegal activity. The criminal operation was linked to the well-known “pig butchering” scam, which allegedly defrauded US citizens

Tether's 2023 Q2 Report Reveals Impressive $1 Billion Operational Profit
9 months ago 1 min read

Tether (USDT) Records $1 Billion Profit in Q2

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 the coin’s stability as a leading stablecoin. In the three-month period between April and June 2023, Tether achieved an impressive operational profit of $1 billion. This milestone speaks to the

Tether Addresses Concerns Over Chinese Securities Exposures: Key Takeaways
10 months ago 1 min read

USDT Issuer Tether Breaks Silence on Chinese Securities Allegations

Stablecoin-issuer Tether has recently addressed reports regarding its reserves containing securities issued by Chinese companies. The company published a detailed response to clarify the situation surrounding its stablecoin, USDT, which is one of the largest stablecoins in the market. Several mainstream media outlets, including Bloomberg, reported that Tether had previously held securities issued by Chinese state-owned firms. These reports were based on documents released by the New York Attorney General (NYAG), which indicated that USDT had been backed by securities from companies like the Industrial & Commercial Bank of China, China Construction Bank Corp., and the Agricultural Bank of China.

The stability of Tether's USDT stablecoin was momentarily disrupted as it deviated from its traditional 1:1 ratio with the US dollar
11 months ago 1 min read

USDT Stablecoin Slightly De-Pegs on Curve DEX, Offering Arbitrage Opportunities for DeFi Traders

The stability of Tether’s USDT stablecoin was momentarily disrupted as it deviated from its traditional 1:1 ratio with the US dollar on the Curve decentralized exchange. This unexpected event has created a unique arbitrage opportunity for DeFi traders, drawing attention to the liquidity pools on Curve and Uniswap, which experienced an influx of USDT sellers. USDT’s de-pegging on the Curve DEX led to a temporary decline in its trading value below $1, disrupting its standard parity. Notably, Curve’s 3Pool, the primary liquidity pool for USDT trading, witnessed an imbalance as USDT’s share rose to over 70%, indicating traders selling USDT

750 Million USDT Tokens Transferred from Tron to Ethereum Network
11 months ago 2 mins read

Tether Transfers 750 Million USDT from Tron to Ethereum: A Strategic Shuffle

Tether Holdings, the company behind the popular stablecoin USDT, has announced a strategic move to convert 750 million USDT tokens from Tron to Ethereum ERC20 via a chain swap. The swap is facilitated through a collaboration with a third-party exchange, and Tether has assured that the overall supply of USDT will remain unchanged. USDT and the Growing Importance of Stablecoins With a current market valuation of $83.37 billion, USDT holds a dominant position as the most valuable stablecoin in the cryptocurrency market. Stablecoins, including USDT, have witnessed significant adoption in recent years due to their ability to maintain a stable

Tether (USDT) has seen its market capitalization surpass $83 billion
11 months ago 1 min read

Tether (USDT) Market Cap Surpasses $83 For the First Time Since TerraUSD Collapse

Tether (USDT), the world’s largest stablecoin, has seen its market capitalization surpass $83 billion. This marks a significant recovery from the $20 billion it lost in the wake of the TerraUSD (UST) collapse in May 2022. Paolo Ardoino, the CTO of Tether, attributed the recovery to the stablecoin’s “proven resilience” and “unwavering commitment to industry-leading transparency practices.” He also noted that Tether’s “ability to weather market volatility” has solidified its reputation as a “trustworthy entity.” During the turbulent times that shook the cryptocurrency market last year, Tether and other major stablecoins witnessed a significant decline in their market capitalization as

Tether has announced plans to mine Bitcoin in Uruguay using renewable energy.
11 months ago 1 min read

Tether to Start Bitcoin Mining in Uruguay

Tether, the world’s largest stablecoin issuer, has announced plans to mine Bitcoin in Uruguay using renewable energy. The company said it will partner with a licensed mining company in Uruguay to mine Bitcoin using renewable energy sources such as wind and hydropower. Tether’s decision to mine Bitcoin is a significant development. The company is one of the largest stablecoin issuers in the world, and its decision to invest in Bitcoin mining could have a major impact on the cryptocurrency market. Tether has said that it is mining Bitcoin in order to diversify its reserves and reduce its reliance on fiat

Tether has partnered with KriptonMarket
11 months ago 1 min read

Tether and KriptonMarket Partner to Bring USDT to Argentina

Tether, the world’s largest stablecoin issuer, has partnered with KriptonMarket, a leading cryptocurrency exchange in Argentina, to support the acceptance of USDT in the country. The partnership will allow KriptonMarket users to deposit, withdraw, and trade USDT on the exchange. It will also make it possible for Argentinians to use USDT to buy and sell goods and services on the KriptonMarket platform. Tether’s USDT is a stablecoin, which means that it is pegged to the U.S. dollar. This makes it a popular option for investors who are looking for a way to store their value in a cryptocurrency that is

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