USDT - Optimisus

Tether's 2023 Q2 Report Reveals Impressive $1 Billion Operational Profit

2 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

3 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

3 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

3 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

4 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.

4 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

4 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

Tether Continues to Dominate the Stablecoin Market, Issues Another $1 Billion of USDT on Ethereum

5 months ago 1 min read

Tether’s USDT minting on Ethereum hits $1B, signaling stablecoin dominance

Late last night, Tether, the world’s largest stablecoin issuer, minted another billion USDT tokens on the Ethereum network. According to Tether CTO Paolo Ardoino, this is part of an “inventory replenish” and will be used to meet the next period of issuance requests and chain swaps. As the most popular stablecoin in the crypto industry, USDT is pegged 1:1 to the United States dollar and is widely used to facilitate trading on large exchanges that don’t accept fiat currencies. On the Ethereum blockchain, Tether has emerged as the dominant stablecoin issuer, with over 35 billion tokens. Its closest competitor, USDC,

11 months ago 1 min read

Lebanese residents are currently actively making crypto payments

As hyperinflation grips Lebanon, citizens have turned to decentralized mechanisms such as cryptocurrencies to help them survive in the long run. Lebanese citizens have begun to accept digital cryptocurrency payments, which have now become an essential part of their daily life. According to a recent CNBC story, Lebanese citizens have embraced cryptocurrency in an effort to counteract the country’s long-standing hyperinflation. The country is now accepting USDT payments and is gradually warming up to cryptocurrencies by incorporating them into its daily lives. The story goes on to say that Lebanese citizens have begun to accept payments in USDT, which has

McDonald's began started to accept Bitcoin (BTC) as a form of payment in the city of Lugano, which is a hub for cryptocurrency adoption in Western Europe and is located in the Italian-speaking area of Switzerland.

12 months ago 1 min read

McDonald’s starts to accept Bitcoin (BTC) and Tether (USDT) in Lugano in Switzerland

McDonald’s began started to accept Bitcoin (BTC) as a form of payment in the city of Lugano, which is a hub for cryptocurrency adoption in Western Europe and is located in the Italian-speaking area of Switzerland. On October 3, Bitcoin Magazine posted a one-minute video to Twitter showcasing the ordering of food at a McDonald’s digital kiosk and the payment of that item using a mobile app at the store’s checkout counter. It is not surprising to see the Tether (USDT) logo next to the Bitcoin symbol on the credit cash machine because the city of Lugano said in March