USDT Market Cap Reaches All-Time High of $83.76 Billion
The market capitalization of USDT, the largest stablecoin, hit an all-time high of $83.76 billion according to IntoTheBlock. However, other data aggregators reported that the asset had surpassed that level earlier this month. USDT has been one of the biggest winners in the crypto market since the COVID-19 pandemic, with its market capitalization increasing from $4 billion in January 2020 to over $83 billion as of writing.
Former FTX Chief Sam Bankman-Fried Rumored to be Cooperating with Department of Justice on Crypto-Related Investigations
Speculation is rife on Crypto Twitter that former FTX chief Sam Bankman-Fried (SBF) may be cooperating with the Department of Justice (DoJ) on various ongoing and pending crypto-related investigations. This comes after SBF was seen walking near the office of the Southern District New York DoJ, with many suggesting that he may have turned state's evidence.
$70 Million Tron USDT transferred from Bitfinex to Tether Treasury
Accordign to Whalealert, $70 Million Tron USDT transferred from Bitfinex to Tether Treasury.
Data: About 73 Million USDT Transferred From Unknown Wallet to Binance
According to Whale Alert monitoring, 72,999,970 USDT were transferred from unknown wallets to Binance.
USDC Market Capitalization Drops 50% as Tether Rises in Popularity
The market capitalization of Circle's stablecoin USDC has fallen by approximately 50% in the past year, with its current market cap standing at around $26.7 billion. This is due to competition from Tether, which has seen a 27% increase in market cap since July 2022. USDC's credibility has also been affected by a temporary de-pegging to $0.97 following the insolvency of Silicon Valley Bank.
imToken's New Feature: Transfer TRON USDT to Ethereum Wallet in Just One Step
imToken has introduced a cross-chain bridge transfer feature, now supporting the transfer of TRON's USDT to Ethereum wallets in just one step.
Data: 50 Million USDT Transferred From Bitfinex To Tether Treasury
According to Whale Alert data: 50,000,000 USDT transferred from Bitfinex to Tether Treasury
CCData: Stablecoin dominance slides as Market Cap Falls to 2-year Lows
CCData, a cryptocurrency analysis platform, released a report stating that from the beginning of this month to July 17, the total market value of stablecoins dropped to $127 billion, accounting for 10.3% of the total cryptocurrency market value, which is a slight decrease from June. The market value of stablecoins has been declining for 16 consecutive months, falling to nearly a two-year low.
USDC Circulating Supply Falls by $100 Million in a Week
Circle's USDC stablecoin has experienced a decrease in circulating supply of around $100 million in the past week due to redemptions exceeding new coin issuance. This trend has been ongoing for the past year, resulting in a reduction of approximately $28 billion from USDC's market capitalization.
New York Hedge Fund Launches Distressed Crypto Asset Fund Amid Industry Turmoil
New York-based hedge fund, Fir Tree Partners, is launching a new fund that will focus on distressed crypto assets. The Fir Tree Digital Asset Opportunities Fund is set to launch on August 1st, according to an email seen by CoinDesk. The firm believes that digital assets are currently mispriced, dislocated, and complex, making it an ideal opportunity for them to capitalize on. Fir Tree has previously been involved in the crypto industry, having shorted Tether's USDT stablecoin and been in a legal dispute with bitcoin fund manager Grayscale.
DEGAMEFI to Host Largest Web3 Conference in Caucasus Region with TETHER as Main Sponsor
DEGAMEFI, the strongest web3 community in the CIS region, is organizing the largest web3 annual conference in the Caucasus region. The DEGAMEFI WEB3 CONFERENCE 2023 will be held in Tbilisi, Georgia from October 7th to 8th and will attract a diverse range of participants, including developers, investors, entrepreneurs, and enthusiasts.
Wallet Pay Launches on Telegram, Enabling Crypto Payments for Merchants and Consumers
Telegram's integrated crypto and payment solution, Wallet, is launching Wallet Pay, which allows for Bitcoin, Tether, and Toncoin payments within the messaging app. Users can make instant and secure payments for goods and services with just a few taps.
Tron Becomes Favorite Network for Stablecoin Issuers as Tether Plans to Deploy Another 1 Billion USDT
Tether plans to deploy an additional 1 billion USDT on the Tron network, leading to more on-chain activity related to stablecoins. Tron's CEO, Justin Sun, confirmed the launch of stUSDT on the network, making it a popular choice for stablecoin issuers due to its fast-paced user growth.
Kava 14 Upgrade Enables Seamless Conversion of Native Cosmos Assets to Ethereum's ERC20 Token Standard
Kava, a blockchain that combines the power of Ethereum and Cosmos, has launched the Kava 14 upgrade which allows for seamless conversion of native Cosmos assets to and from Ethereum's ERC20 token standard. Tether has chosen Kava as the gateway for issuing native USDt on Cosmos, and with the launch of Kava 14, USDt can now be minted and easily converted on Cosmos to USDt on other layer one networks.
Curve Pool is Live with Kava Native USDT
According to Kava team, Curve Pool is Live with Kava Native USDT.
Hong Kong Police Hunt for Crypto Scammers After HK $1 Million Tether Fraud
Hong Kong police are on the hunt for a group of scammers who conned a victim out of HK $1 million in Tether during an over-the-counter exchange. The victim was lured to a shop in Tsim Sha Tsui after seeing an Instagram ad offering high exchange rates. The scammer impersonated a shop employee and offered fake bank notes in exchange for Tether, before disappearing with the victim's money. This incident is part of a series of crypto scams in Hong Kong, which has recently implemented licensing laws for crypto operators in an attempt to standardize the industry.
Bitget Released the Eighth Asset Reserve Certificate, and the Assets of Users BTC, ETH, and USDT Increased by 7%, 9%, and 4% Respectively
Bitget released the eighth asset reserve certificate (snapshot date 7-6), the user's BTC assets are 2311.23 pieces, an increase of 7% from the previous (6-8), an increase of 150.24 BTC; the user's ETH assets are 11,200 pieces, compared with the previous The second increase was 9%, an increase of 955.47 ETH; the user's USDT assets were 346 million pieces, an increase of 4% from the previous time, an increase of 13 million USDT.
Stablecoins to Drive $187 Billion in Cross-Border Payments by 2028: Juniper Research
Stablecoins are an essential component of the cryptocurrency industry, providing a stable asset for trading and gaining traction in cross-border payments due to their efficiency and traceability.
Huobi Released the Latest Asset Reserve Certificate, BTC and ETH Asset Deposits Increased by 53.3% and 7.2% Month-on-Month
Huobi released the latest asset reserve certificate. The user’s BTC asset accumulation increased by 53.3% compared with June, an increase of 8,300 BTC; the user’s ETH asset accumulation increased by 7.2% compared with June, an increase of 9,500 ETH; the user’s HT asset accumulation compared with June A month-on-month increase of 0.7%, an increase of 1.46 million HT; users’ USDT asset deposits increased by 13% compared with June, an increase of 72 million USDT.
Tether Has Listed Its Native USDT on the Kava Blockchain
Kava announced on social media that Tether's stablecoin USDT is now integrated into the Kava blockchain, and native USDT is being issued to more than 60 Cosmos application chains. Native USDT has previously run on several blockchain networks, including Ethereum, Solana, Algorand, EOS, Liquid Network, Omni, and Tron.
