Tag: tether (usdt)

Nov 10 2022

Justin Sun’s Tron DAO Reserve To Buy $1 Billion Tether (USDT)

Justin Sun promises $1 billion USDT buy to support USDD reserves and maintain dollar peg.

Oct 21 2022

Tether USDT To Be Available At 24,000 ATMs In Brazil

Tether has announced that the company's stablecoin USDT will be available at 24,000 ATMs across Brazil, starting from the 3rd of next month. 24,000 ATMs In Brazil Will Offer Tether USDT Conversions Starting 3 November As per an announcement on the firm's website, the Brazilian crypto services provider SmartPay will be handling the...

Oct 14 2022

Judge Presiding Over $1 Trillion Tether Lawsuit Dismisses Roche Freedman From Representing Plaintiffs: Bloomberg Report

Summary: A New York Judge has ordered that law firm Roche Freedman step down as lead counsel in a class action lawsuit against USDT Issuer Tether and its sister firm Bitfinex. The lawsuit sought $1 trillion in damages for the plaintiffs over alleged market manipulation by the digital asset firm. Thursday's decision follows controversial posts from whistleblower website Crypto Leaks involving the law...

Oct 13 2022

Tether: USDT Is Not Backed By Commercial Paper Anymore

Tether has announced that USDT is no longer backed by commercial paper. The firm has increased it's exposure to U.S Treasury Bills.

Sep 29 2022

Despite Declining Marketshare, USDT Still Remains Top Stablecoin

While USDT has observed a decline in its marketshare during the year 2022 so far, the stablecoin still retains its place at the top. USDT Is Still Number One In Stablecoin Market, USDC Remains 2nd According to the latest weekly report from Arcane Research, USDT's share of the stablecoin market has now gone down to 45% this year. The marketshare here refers...

Sep 26 2022

Tether Stablecoin Goes Live On Polkadot Blockchain

Tether USDT is the largest stablecoin by market cap. Also, the token ranks among the top five in the overall market capitalization of all crypto assets. Through several progressive road maps and other development plans, Tether USDT has risen over the years. Recently, the stablecoin announced its launch on Polkadot. USDT is a product of Tether Limited, a Hong Kong-based firm launched in...

Sep 22 2022

U.S Judge Orders Tether To Produce Financial Records Proving USDT’s Backing

Stablecoin issuer Tether has recieved a court order to produce financial records that prove the backings of its USDT. The Judge at Northern District Court New York, Katherine Polk Failla, issued the order for Tether on Tuesday upon the plaintiffs' request to prove its reserves. The latest order for Tether comes as part...

Sep 21 2022

New York Court Orders Tether To Provide USDT Financial Records

Summary: USDT issuer Tether was ordered to make financial documents for its stablecoin available to the court. The order issued by a New York judge also applies to Bitfinex. Tuesday's order is part of an ongoing class-action lawsuit launched in 2019. The plaintiff accused USDT's issuer of providing misleading records for its stablecoin reserves and market manipulation. A New York judge has ordered...

Sep 12 2022

The Merge Week: Tether (USDT) Backs Ethereum’s Proof-Of-Stake Upgrade

Summary: USDT issuer Tether supports Ethereum's upcoming proof-of-stake transition. Tether stressed only ETH PoS would receive backing. Support for hard-forked proof-of-work Ethereum chains seems unlikely at press time. The top two stablecoins have declared full support for the Merge. Other protocols like Chainlink and exchanges like Coinbase have announced similar decisions. Tether, the digital asset firm behind crypto’s largest stablecoin USDT, is all...

Aug 19 2022

Tether’s (USDT) $8.5 Billion Commerical Paper Holdings Validated By BDO Audit

Summary: USDT stablecoin issuer Tether released the latest report on its reserves. The report was independently audited by BDO, a major accounting firm ranked in the top five globally. Friday's audit revealed a further reduction in the firm's commercial paper holdings over the last quarter. Cash holdings and bank deposits increased as well, per the audit. Tether previously announced plans to shrink commercial...

Jul 27 2022

Tether Denies Chinese Commerical Paper Holdings, Plans To Eliminate Short-term Debts By Q4 2022

Summary: USDT stablecoin issuer Tether cleared the air on its short-term debts, again. The digital asset company debunked rumors that claimed Tether holds a massive amount of Chinese commercial paper. The statement released today also addressed the threat of such misinformation to the broader crypto industry. CTO Paolo Ardoino stated that the firm's commercial paper holdings have indeed dropped to $3.7 billion. The...

Jul 26 2022

Total Stablecoin Supply Down By $35 Billion – Arcane Research

Summary: Stablecoin supply dropped by the end of the second quarter of 2022. Arcane Research data showed that the total supply was about $151 billion by Q2 of this year. The figure revealed an 18.8% drop over the last quarter, worth around $35 billion. It's so far the largest supply drop in stablecoin history, per the report. Arcane's data also showed that Circle's...

Jul 08 2022

Tether Liquidated its Loan With Celsius Network Without Losses, Admits it Has an Investment in the Lending Platform

Summary: Tether has released a statement explaining how it liquidated its loan with Celsius Network. According to Tether, the loan was liquidated without losses to the company and according to an agreement by both entities. The loan was denominated in Bitcoin, with some estimates putting its value at $1 Billion. Tether, the company behind the largest stablecoin in terms of market cap, USDT,...

Jul 04 2022

Argentina Saw 3x More Stablecoin Buys As Traders Hedge Against Rising Inflation

Argentina's stablecoin buying volume surges as traders fear peso crash amid economic downturn.

Jul 01 2022

Rumors of Circle’s USDC Collapsing Should Not be Believed – Crypto Analyst

Summary: There has been a rumor circulating on crypto-twitter that Circle's USDC stablecoin is on the brink of collapse. According to the rumor, Circle is losing money to pump USDC's market cap. Additionally, Circle had exposure to crypto firms experiencing financial woes, including Genesis Trading, BlockFi, Celsius, Galaxy Digital, and Three Arrows Capital. However, Colin Wu has pointed out that the regulatory requirements...

Jun 27 2022

Tether CTO Highlights a Coordinated Attack by Hedge Funds to Short USDT, Reiterates the Stablecoin is 100% Backed

Summary: Tether's CTO, Paolo Ardoino, has identified a coordinated attack on USDT by traditional hedge funds shorting the stablecoin. According to Mr. Ardoino, the attack involves a new wave of FUD, trolling, clowns, and more. Mr. Ardoino has reiterated that Tether is 100% backed by reserves. He also added that Tether is phasing out its reserve exposure of commercial paper in preference to...

Jun 15 2022

Tether Debunks Reserve Rumors, Clears The Air on Celsius And 3AC Exposure

Tether denies Asian commercial paper holdings and Celcius exposure.

Jun 03 2022

Tether Team Claims the Financial Times Has an Obsession With USDT and its Execs.

Summary: The team at Tether claims the Financial Times has a fixation with USDT and the company's execs. Additionally, the Tether team believes the Financial Times has been rehashing the same selective old news to target USDT and its leadership at the company. Tether has proven itself time and again that it is resilient and essential to the crypto ecosystem. The team at...

Jun 01 2022

USDT is Resilient and Has Undergone a Successful Stress Test With the Collapse of Terra, Says the Team at Tether

Quick take: The Tether team believes that USDT has proven to be resilient amidst the events surrounding UST's collapse. USDT's stability in the last month is evidence that it has successfully undergone a stress test. The resilience of USDT is further amplified by the fact that Tether is fully backed. Tether also recently faced $10 billion in redemption requests which it completed without...

May 27 2022

Tether (USDT) Expands to the Polygon Network, Aiming to Boost its DeFi Ecosystem

Quick take: Tether (USDT) has launched on the Polygon (MATIC) network. Polygon's DeFi ecosystem is set to benefit from Tether's availability on the network. USDT issued on Tron continues to be higher than that issued on Ethereum. A total of $72.537 billion Tether is in circulation with the stablecoin remaining at the number three spot in terms of market capitalization. The stablecoin of...

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