USDT

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

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

USDT Issuer Tether Breaks Silence on Chinese Securities Allegations

June 17, 2023 1 min read

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

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

June 15, 2023 1 min read

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

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

June 15, 2023 2 mins read

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

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

June 2, 2023 1 min read

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

Tether to Start Bitcoin Mining in Uruguay

June 1, 2023 1 min read

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

Tether and KriptonMarket Partner to Bring USDT to Argentina

May 20, 2023 1 min read

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