USDT

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’s market cap on Polygon increased by an amazing 29% QoQ to reach $792 million

June 3, 2024 1 min read

Polygon’s stablecoin has skyrocketed in value in three months. Messari’s latest statistics shows the Ethereum Layer 2 stablecoin’s market valuation at $1.5 billion. This is up 19% over the previous quarter. Messari found that Tether’s market value rose 29% QoQ to $792 million, consolidating its status as Polygon’s largest stablecoin. This made up 53% of the network’s stablecoin market value. Significant ChangesSeveral major advancements have boosted Polygon stablecoin usage in

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

December 10, 2023 1 min read

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

Tether freezes over $225 million worth of USDT tokens

November 21, 2023 1 min read

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