Tether's USDt Launches on Cosmos via Kava, Bringing Deep Stablecoin Liquidity to the DeFi Ecosystem
Tether's USDt stablecoin has been successfully launched on Cosmos via Kava, providing deep stablecoin liquidity across the Inter-Blockchain Communication (IBC) and Ethereum Virtual Machine (EVM) ecosystems.
The Block: The total supply of Stablecoins has decreased from $138 Billion at the beginning of the Year to $124 Billion
July 4 (Cointime) -According to The Block, the total supply of stablecoins has decreased from $138 billion at the beginning of the year to $124 billion on July 3rd, as reported by The Block. Since the USDC's brief detachment in March, Tether's USDT has increased its market share in the stablecoin market, but the average daily trading volume of the top ten stablecoins has still decreased from $53 billion in March 2023 to $28 billion in May.
USDT's Market Share Grows Despite Stablecoin Turbulence in 2023
June 29 (Cointime) - Despite the turbulence caused by the depegging of USDC in 2023, USDT's market share has grown in the cryptocurrency ecosystem. Stablecoins have become popular in the Web3 space due to their ability to provide the benefits of cryptocurrencies with stable value.
BRAHMA(MBA) Adds USDT to Its Stable Exchange, Focusing on User Experience and Diversified Investment Opportunities
June 28 (Cointime) - Hong Kong's recent legalization of Bitcoin signals a promising future for digital currency. BRAHMA (MBA), a global trading platform for digital assets, has announced the addition of USDT to its stable exchange.
Tether Signs MOU with Government of Georgia to Develop Blockchain, Bitcoin, and Peer-to-Peer Infrastructure
June 28 (Cointime) -Paolo Ardoino (CTO, Tether) and Irakli Nadareishvili (Deputy Minister of Economy and Sustainable Development) signing the MOU for the collaboration between Tether and the Government of Georgia to develop Blockchain, #Bitcoin and Peer-to-Peer Infrastructure.
TUSD Stablecoin Depegs Again Amid Exposure to Crypto Custodian Prime Trust
June 28 (Cointime) - The stablecoin TrueUSD (TUSD) has experienced its second depegging this month, with its value falling to 0.9974 against Tether (USDT) on Binance and 0.80 on Binance.US. This follows the placement of crypto custodian Prime Trust into receivership after BitGo cancelled its bid to acquire the firm.
Bitfinex Launches P2P Platform for Direct Bitcoin and Crypto Trading in Latin America
June 27 (Cointime) - Bitfinex has launched a new peer-to-peer platform, Bitfinex P2P, which will initially target markets in Venezuela, Argentina, and Colombia. The platform allows customers to directly trade Bitcoin, Tether tokens, Tether Gold, and Ethereum while facilitating payments outside of the Bitfinex platform.
SwapBox, a Multi-Chain Aggregation Protocol, Is Launching a Limited-Time Zero-Fee Cross-Chain Swap Event for USDT
June 27 (Cointime) - From June 27th to July 17th, SwapBox, under the Nabox ecosystem, offers a zero-fee cross-chain swap for USDT. Users can swap USDT with zero slippage and no restrictions between networks like Ethereum, BSC, OKTC, Polygon, TRON, Heco, Avalanche, KCC, Arbitrum, Optimism, Cronos, and more.
Wallet "0x6f65" Buy ETH through Multiple Collateralized Borrowing
June 27 (Cointime) -According to Lookonchain, Wallet"0x6f65":Deposited 3,963 $stETH and borrowed 5M $USDT.Bought 2,687 $ETH at $1,860 and swapped to $stETH.Deposited 2,685 $stETH and borrowed 2M $USDT.Bought 1,073 $ETH at $1,864 and swapped to $stETH.Deposited 1,073 $stETH.
Russians Appeared to Seek Refuge in Crypto During Wagner Revolt
June 26 (Cointime) - There was a brief mercenary insurgency in Russia, and the Russians appeared to seek refuge in the stablecoin Tether in exchange for rubles. Despite relatively low overall traffic, trading volumes for the ruble-denominated Tether stablecoin roughly tripled on June 24 on digital asset exchanges that still support trading in the Russian currency, according to blockchain data firm CCData. to about $15 million. According to CCData, the largest ruble trading platforms this month are Binance, Cryptonex, HitBTC and Coinsbit. The United States and its allies imposed financial sanctions after Russia invaded Ukraine last year.
Tether Launches USDT Stablecoin on Kava Blockchain to Expand Multi-Chain Presence
June 21 (Cointime) - Tether has expanded its multi-chain presence by launching its USDT stablecoin on Kava, a Layer 1 blockchain built on the Cosmos network. Kava joins over a dozen other blockchains, including Ethereum, Solana, and Algorand, in hosting USDT. Paolo Ardoino, Tether's CTO, praised Kava's four-year track record of zero security issues, which is crucial for protecting USDT users.
Blockchain Platform Tether to Launch Dollar Stablecoin USD₮ on Kava, a Layer-1 Blockchain Designed for Scalability and Speed
June 21 (Cointime) -Tether will launch USD₮, a USD stablecoin on Kava. Kava is a scalable and fast layer-1 blockchain whose unique architecture combines the flexibility of the Ethereum Virtual Machine with the speed, low transaction fees and interoperability of the Cosmos SDK. The news further cements Tether’s status as the most widely adopted stablecoin, and underscores the importance of protecting users when using USD₮. Additionally, the company has launched stablecoins on multiple networks, including Ethereum, Solana, Algorand, and more.
Tether’s Banking Relationships, Commercial Paper Exposure Detailed in Newly Released Legal Documents
June 21 (Cointime) - Documents obtained by CoinDesk under a Freedom of Information Law request offer a rare but limited window into the reserves behind USDT, the crypto market’s largest stablecoin.
Tether's Transaction Volume Surges to Three-Month High as USDT Reclaims Peg and Exchange Netflow Spikes
June 20 (Cointime) - Tether's transaction volume has reached a three-month high, with USDT reclaiming its peg and experiencing a surge in exchange netflow. Despite a recent dip in value, regular transactions have stabilized and the stablecoin has achieved an all-time high in transaction volume.
Tether Deactivates Accounts of Prominent Crypto Players, Addresses Concerns Raised by NYAG
June 17 (Cointime) - Tether, the company behind USDT stablecoin, has responded to concerns raised about its operational decisions. According to documents released by the New York Attorney General, Tether deactivated around 29 accounts belonging to prominent cryptocurrency players in 2021, with most individuals on the list having their accounts terminated for various reasons.
USDT Depegging Incident Causes Market Impact and Increased Activity, but Stablecoin Maintains Dominance
June 17 (Cointime) - The recent depegging incident of Tether's USDT caused significant market impact and increased activity, with traders disposing of their tokens and the supply of Tether on exchanges experiencing a decline.
Tether: Regularly Cooperates with Law Enforcement, No loss on any Commercial Bill
June 16 (Cointime) - Stablecoin issuer Tether issued a statement in response to FUD, stating that Tether has never and will never compromise the integrity of its reserves. This commitment to maintaining the highest standards extends to its risk indicators and risk measurement processes. These mechanisms enable its investment and finance teams to thoroughly assess any financial interaction-related risks with the company. With an understanding of the lending business and regulatory environment, Tether actively strives to achieve and maintain its business goals while adhering to its risk management culture.
Tether Partially Backed Stablecoin with Chinese Securities, Documents Show
June 16 (Cointime) - According to documents obtained by the New York Attorney General, Tether had indeed backed its stablecoin with Chinese securities, including those from China Construction Bank Corp. and Agricultural Bank of China Ltd, despite denying it previously. Tether had faced rumors about its use of Chinese securities, but remained silent on the matter until September 2021 when it denied holding commercial paper from Evergrande. In July, Tether stated that it did not hold any Chinese commercial paper at that time, but did not confirm or deny whether it had done so in the past. The documents were released as part of the NYAG's investigation of Tether, which resulted in a settlement and fine in 2021.
USDT Depeg Was a Planned Attack on Tether, Says CTO Paolo Ardoino
June 16 (Cointime) - Tether's USDT briefly deviated from its US dollar peg, coinciding with the New York Attorney General's release of information to CoinDesk. Tether's CTO, Paolo Ardoino, called it a planned attack on the stablecoin, but assured that the company was well-prepared and emerged stronger.
Tether's Stability in Question as New Details Emerge Following Depegging and Release of Documents
June 16 (Cointime) - The digital currency world was shaken up after Tether (USDT), the largest stablecoin in the industry, was depegged and dropped to $0.9991 due to a loan issue on the DeFi platform Curve.
