Tether and Bitfinex Drop Initial Opposition to FOIL Request by News Publications
Tether and Bitfinex have dropped their initial opposition to a freedom of information (FOIL) request made by several news publications, including Coindesk. The companies have stated that they are committed to transparency but will not be releasing all their documents. They have called for responsible document review before any public release of information. The FOIL request was made after Tether and Bitfinex settled a legal dispute with the New York attorney general's office and agreed to submit quarterly transparency reports for two years.
A whale has purchased a total of 2 million LDOs since October 2, making a profit of US$1.4 million.
According to data from Lookonchain, since October 2, a whale has purchased a total of 2 million LDO tokens (worth $3.6 million) at a price of approximately $1.79 per token. Based on current prices, the profit is approximately $1.4 million. The whale has deposited the 2 million LDO tokens ($5 million) into Aave and borrowed 1.56 million USDT to purchase more LDO tokens.
The Hong Kong High Court tried a robbery case involving HK$3.5 million in USDT, and three men pleaded guilty and were sentenced to 4 years and 8 months in prison.
According to Jinse Finance, the Hong Kong High Court has tried a robbery case involving 3.5 million Hong Kong dollars of "Tether" USDT on November 23. It is reported that the victim surnamed Yin and her husband have been trading virtual currency "Tether" since 2018. They met the male buyer who is currently wanted in December 2020 and successfully completed 4 transactions of "Tether" buying and selling within a month, collecting a total of over 6.87 million yuan. However, they were robbed by masked robbers in a transaction worth 3.5 million yuan of "Tether". The special commission judge stated that this case was a precise plan, and all defendants had premeditated the crime and played different roles. They pretended to trade virtual currency with the victim first, and then robbed her when she was alone. The amount involved in the case, 3.5 million yuan, has not been recovered yet. The three criminals have been sentenced to 4 years and 8 months in prison each for robbery.
100 million USDT transferred from Biffinex to Tether Treasury
According to Whale Alert monitoring, 100,000,000 USDT were transferred from Biffinex to Tether Treasury.
Tether: Issuing an additional 1 billion USDT on the TRON network
Paolo Ardoino, CEO of Tether, announced on social media that Tether has issued 1 billion USDT on the Tron network. Please note that this is authorized but not yet issued, which means that this issuance will be used as inventory for the next issuance request and chain exchange.
A giant whale received 75 million USDT from Tether Treasury and transferred it to the exchange
According to data monitored by Lookonchain, in the past two hours, a whale received 75 million USDT from Tether Treasury and deposited it again into Kraken and Coinbase. Since October 20th, the whale address has received a total of 1.067 billion USDT from Tether Treasury and deposited it into exchanges.
Financial Times: Tether keeps more than $1 billion in Britannia Financial Group subsidiary
On November 21, Tether has reportedly deposited over $1 billion with Britannia Financial Group's subsidiary, as reported by the Financial Times citing London's High Court documents. The deposit is said to be related to a legal dispute between Britannia Financial and Arbitral International, a company registered in the British Virgin Islands.According to court documents, Tether opened an account with Britannia Financial's subsidiary in November 2021.
US financial technology company Plaid has hired a former Adyen executive as its new head of Europe
Plaid, a US financial technology company, has hired former Adyen executive Brian Dammeir as its new head of Europe. Dammeir was previously the global head of Adyen's unified commerce division and worked at the Dutch payment company's San Francisco office. Dammeir was responsible for overseeing a key part of Adyen's business, integrating different payment experiences, including online payments, in-store payments, and app-based payments, on one platform.
Since October 20, a certain whale has deposited a total of 992 million USDT into the exchange.
Lookonchain monitoring shows that a whale address has withdrawn 96 million USDT from the Tether Treasury in the past 10 hours and deposited it into OKX, Kraken, and Coinbase. Since October 20th, the whale has received a total of 992 million USDT from Tether Treasury and deposited it into exchanges.
Tether Freezes $225 Million Linked to Human Trafficking Syndicate, Helps US Department of Justice
Tether, the issuer of the third-largest digital currency USDT, has frozen $225 million believed to belong to a human trafficking syndicate in southeast Asia. The self-custodied digital wallets holding USDT were linked to a "pig butchering" scam, and Tether worked with crypto exchange OKX and blockchain analysis firm Chainalysis to track the funds and alert the authorities. Tether CEO Paolo Ardoino said the collaboration with the U.S. Department of Justice underscores the company's dedication to fostering a secure environment and setting a new standard for safety within the crypto space. However, Tether is a controversial company that has been slow to provide documentation to prove the backing of USDT and is not independently audited.
Tether: Following investigations by OKX and the U.S. Department of Justice, Tether voluntarily freezes 225 million USDT related to international criminal groups.
On November 20th, USDT issuing company Tether announced on its official website that OKX announced today that they have cooperated with the US Department of Justice (DOJ) to conduct an investigation, which led to Tether voluntarily freezing about 225 million USDT tokens in external self-hosted wallets, which are associated with an international human trafficking group in Southeast Asia, which is involved in leading the global "pig-killing plate" scam.
Kunming Chenggong hears the first case of a virtual currency pyramid scheme, involving more than 9.76 million USDT
On November 18th, according to a post on the public account of Kunming Chenggong District People's Court, the Chenggong Court recently tried the first case of a criminal organization and leadership of pyramid selling activities using virtual currency on a network platform. The suspects, including Yang, promoted the "XX Eagle" project as a blockchain financial platform from a certain country, guaranteed by overseas banks and funds, falsely claiming that the DAM (commonly known as eggs, egg coins, etc.) on the "XX Eagle" platform can be exchanged at a 1:1 ratio with the virtual currency USDT (commonly known as U coins, Tether). Yang and others deceived participants into recharging USDT to the "XX Eagle" network platform, and deceived them into developing subordinate members in multiple places through invitation codes, setting up wealth levels 1-4 based on the number of developed members and the amount of recharge funds.
An address holding 1 million USDT was frozen
According to Whale Alert monitoring, at 21:25:11 Beijing time, an address holding 1,000,000 USDT on the Ethereum blockchain has been frozen.
A certain whale address has received a total of 846 million USDT from Tether since October 20 and deposited it into CEX
On November 17th, Lookonchain monitoring reported that a certain whale address has just received 49 million USDT from TetherTreasury and deposited it into Kraken and Coinbase. Since October 20th, the address has accumulated a total of 846 million USDT and has transferred all of it to trading platforms.
Tether to Invest $500M in Bitcoin Mining Venture
Tether Holdings Ltd has announced a 3-year plan to invest $500 million in its Bitcoin mining venture, with the aim of becoming one of the world's top Bitcoin mining companies. The funds will be used to construct crypto mining sites and purchase stakes in other companies. Tether hopes to hit 120 megawatts in its mining operations by the end of the year and 450 megawatts by the end of 2025. This move marks a pivot away from Tether's USDT token and could transform the competition around it.
Tether plans to invest approximately $500 million in Bitcoin mining over the next six months,
According to Bloomberg's report, Tether Holdings Ltd. is taking steps to become one of the world's top Bitcoin miners. The company's incoming CEO, Paolo Ardoino, stated in an interview that the company plans to invest approximately $500 million over the next six months to achieve this goal by building its own mining facilities and investing in other companies. This investment includes a portion of the $610 million credit arrangement provided by Tether to the Bitcoin mining company Northern Data AG, which went public this month. Tether also acquired shares of Northern Data AG in September.
Tether: Judge dismisses class action lawsuit against Tether and Bitfinex, plaintiffs drop appeal
Tether announced that the Chief Judge of the Federal District Court in the Southern District of New York rejected Shawn Dolifka's class action lawsuit against Tether and Bitfinex, and Dolifka decided not to appeal. The judge ultimately ruled in favor of Tether and Bitfinex, dismissing the lawsuit. In the statement, Tether stated that Dolifka's decision to waive his right to appeal was the correct decision, as his claims had no basis, and further litigation would not bring any economic or other benefits to him or his lawyers. Tether emphasized that they will never become victims of shameless litigation extortion.
The 90-day net change in supply of USDT, USDC, BUSD, and DAI has turned significantly positive
Data tracked by blockchain analysis company Glassnode shows that for the first time in over a year, funds have flowed into the cryptocurrency market through stablecoins or tokens pegged to the US dollar. The 90-day net change in supply of the top four stablecoins - Tether (USDT), USD Coin (USDC), Binance USD (BUSD), and Dai (DAI) - has turned positive, marking the first occurrence since the Terra crash in mid-May 2022.
A certain Kraken deposit address minted 100 million USDT in the past half hour, with a minting volume of nearly 300 million in 24 hours.
Data released by Arkham shows that a Kraken deposit address (possibly a large trading company) has minted 100 million USDT in the past 30 minutes and nearly 300 million USDT in the past 24 hours. Arkham stated that this high-value address in Tron has deposited over 15 billion USDT into Kraken since its creation.
Binance Moves $3.9 Billion in Tether (USDT) to Hot Wallet, Raises Questions About Stablecoin Activities
Binance has transferred around $3.9 billion in tether (USDT) from its Tron-based 'Binance-Cold 2' wallet to its 'Binance 3' hot wallet. Out of this, $300 million was sent to 'Binance-Hot 7', leaving approximately $3.6 billion in 'Binance 3'. The transfer is one of the largest tether transactions on Tron to ever occur. Binance's stablecoin activities have come under scrutiny after its failure to appropriately manage Binance-Peg BUSD, and it currently faces lawsuits from the Commodity Futures Trading Commission and Securities and Exchange Commission.
