USDT Dominance Breaks 52%, Highest Since May 2022
USDT dominance breaks 52%, the highest dominance since May 2022, just before the Terra Luna collapse.
As BUSD Dies, Tether’s USDT Soaks Up Another $1 Billion
Stablecoin giant Tether saw its flagship token, USDT, grow by nearly $1 billion in the aftermath of a regulatory crackdown against one of its rivals, BUSD. The token’s market cap started out at $68.47 billion on Tuesday, before rocketing upwards to roughly $69.23 billion at about 9:10 a.m. EST, according to data from CoinMarketCap. (decrypt)
Traders Turn to USDT As BUSD Dominates Heavily Imbalanced Curve Liquidity Pool
Curve pool’s Binance USD (BUSD) V2 pool is heavily imbalanced, with crypto traders showing preferences for Tether’s USDT.
BUSD Depegs From Rival Stablecoin Tether After US Regulator Tells Paxos to Stop Minting New Tokens
Binance's dollar-pegged stablecoin BUSD turned volatile in the wake of regulatory action against its issuer Paxos Trust Co.
1,000,000,000 #USDT (1,000,556,075 USD) Minted at Tether Treasury
Note this is a authorized but not issued transaction, meaning that this amount will be used as inventory for next period issuance requests and chain swaps.
Wall Street Institution Cantor Fitzgerald Reportedly Manages $39B of Tether’s Reserves
Stablecoin issuer Tether (USDT) is reportedly using Wall Street financial institution Cantor Fitzgerald to manage its $39 billion bond portfolio, Wall Street Journal reported Feb. 10.
Crypto Morning Briefing: Huobi To Expand in Hong Kong As It Bets on China, Secret Network Votes Unanimously to Turn Foundation Into Non-Profit
Huobi Global plans to expand its operations in Hong Kong; Binance announced a major upgrade to its Proof of Reserves Verification system to include zk-SNARKs; C3 raised $6 million in a seed funding round led by Two Sigma ventures
Stablecoin Issuer Tether's Reserves Partly Managed by Cantor Fitzgerald
Tether has been using Cantor Fitzgerald to manage more than half of the $67 billion in bonds, cash, and loans backing its stablecoin (USDT), reports the WSJ.
Tether Generated Over $700 Million in Profits in Q4, 2022
Tether Holdings Limited – the company behind the largest stablecoin USDT – revealed a net profit of around $700 million in the fourth quarter of 2022.
Tether Reports $700 Million Q4 Net Profit in Latest Attestation Report
Stablecoin issuer Tether released its latest attestation report on Thursday, reporting a profit of $700 million in the fourth quarter of 2022, which it reinvested into its reserves.
Heroes Of The Crypto Community Rally Behind Turkey
Several crypto companies including Binance, Tether, Bitfinex, OKX, and Kucoin pledged over $9 million in aid for the earthquake victims in Turkey and Syria.
Tether and INHOPE Face CSAM Together
Tether and INHOPE have announced a collaboration to eliminate CSAM (child sexual abuse material) related payments on the network.
86% of Tether Was Concentrated Among Four People Till 2018
A new report by the Wall Street Journal brought to light some interesting facts and numbers related to the issuer of the world’s largest stablecoin.
Tether Leads In The Emerging Markets
Tether is committed to serving people in emerging markets globally.
A Group of Four Men Controlled 86% of Stablecoin Issuer Tether Holdings Limited As of 2018
According to the documents, Tether was built by the joint efforts of ex-plastic surgeon Giancarlo Devasini and former child actor and crypto entrepreneur Brock Pierce. In September 2014, Tether Holdings was incorporated in the British Virgin Islands.
86% of Tether Was Controlled by 4 People: WSJ
Four men owned 86% of Tether as of 2018, according to investigatory documents viewed by the Wall Street Journal.
Alameda Research Wallet Receives $6M From Bitfinex Hot Wallet
An Ethereum wallet that belongs to bankrupt trading firm Alameda Research quietly received $6 million worth of tether (USDT) from Bitfinex's hot wallet overnight, according to Nansen data.
Tether Denies It Borrowed $2B From Celsius, As Described in Court Report
Stablecoin issuer Tether is pushing back against assertions that it borrowed funds from failed crypto lender Celsius.
Tether Denies Borrowing from Bankrupt Celsius
Tether’s (USDT) chief technology officer Paolo Ardoino has denied that the stablecoin issuer took a loan from Celsius in a Jan. 31 tweet. Ardoino responded to a Twitter thread on the Celsius examiner report that said that Tether, alongside Three Arrows Capital and Alameda Research, could exceed their credit limits with the bankrupt lender. The report claimed that the stablecoin issuer had over $2 billion in exposure to Celsius and was considered an “existential threat” to the lender’s financial health. It added that Celsius’ couldn’t survive a Tether default because its capital was insufficient. (cryptoslate)
