Cointime

Cointime

Download App
iOS & Android
Home / JUST IN

Tether's USDT Stablecoin Market Cap Surges to $81.5 Billion Despite Regulatory Uncertainty

Tether's USDT stablecoin market cap has reached $81.5 billion, close to its all-time high of $83.4 billion. Its market share stands at 63%, its highest point in two years. Circle's USD Coin and Paxos-issued Binance USD saw a disproportionate amount of on-chain value redeemed for dollars, contributing to Tether's surge in market share.

Tether has minted $15 billion in new USDT since the start of 2023, with over a billion USDT minted on Thursday. The tokens mainly reside on Tron, and Tether called a recent report on its activities "outdated, inaccurate, and misleading."

Tether USDt Tether USDt $1.00
-0.03%
USDT Tether stablecoin Paxos Circle
Comments

All Comments

Recommended for you

  • Cointime August 11st News Express

    1.Fed Governor Bowman: Be cautious about rate cuts

  • Cointime August 4 News Express

    1.Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX

  • Jump Trading is redeeming 120,000 wstETH in batches into ETH and then transferring it to CEX

    According to the monitoring of on-chain analyst Yu Jin, Jump Trading may be selling ETH: they are currently redeeming a wstETH (120,000 pieces) worth $410 million in batches into ETH and then transferring it to exchanges such as Binance/OKX. So far, they have unpacked and redeemed 83,000 wstETH into 97,500 ETH in the 9 days since July 25. Among them, 66,000 ETH (191.4 million US dollars) have entered the exchange.At present, there are still 37,600 wstETH in their wstETH storage address that have not been transferred out; 11,500 stETH in the redemption ETH address is being redeemed into ETH; and 20,000 ETH in the ETH transfer address to the exchange are waiting to enter the exchange in batches.

  • Hong Kong Legislative Council Member Tam Yue-heng: Accelerate the issuance and trading of stablecoins that match the characteristics of the linked exchange rate system

    Tan Yueheng, a member of the National Committee of the Chinese People's Political Consultative Conference and the Legislative Council, published an article entitled "Consolidating the Status of Financial Center and Sharing the Dividend of Deepening Reform". In it, he pointed out that in the field of digital finance, the SAR government must continue to develop digital finance and qualified virtual products, explore new beneficial financial formats, and promote the new productive forces of the financial industry. Hong Kong must promote the participation of financial technology companies in the stable coin sandbox mechanism, accelerate the issuance and trading of stable coins with the characteristics of matching linked exchange rate system, expand the testing scope and landing scenarios of digital RMB as a cross-border payment tool, and focus on developing products that are linked to virtual assets and underlying real assets, transforming art, real estate, equity, and carbon emissions into digital tokens through blockchain technology.

  • Trump team files complaint over Harris inheriting $96 million in Biden campaign funds

    According to reports from foreign media, the Trump campaign team has filed a complaint with the Federal Election Commission, claiming that Biden's transfer of $96 million in campaign funds to Harris is illegal. David Warrington, a lawyer for the Trump campaign team, said that this was a "shameless money-grabbing act" and would constitute the largest excessive donation and most serious violation in the history of the Federal Election Law. Shortly after Biden withdrew from the election and appointed Harris as his preferred successor, she took over Biden's campaign committee's bank account. Steve Roberts, a lawyer who represented Republican candidates, said that the argument against the transfer was a "wishful thinking" of his Republican colleagues. The Harris campaign team said that this complaint would not affect its fundraising or spending.

  • Donald Trump Plans to Release Fourth NFT Collection, Embraces Crypto Industry

    Former US President Donald Trump is reportedly planning to release a fourth NFT collection, as he continues to embrace the crypto industry. In a recent interview with Bloomberg Businessweek, Trump stated that his previous NFT collections were "very successful" and sold out in a day. He also revealed that he plans to release another collection, as his supporters are demanding it. Trump's campaign has also started accepting crypto donations, and he has been vocal about the importance of the US not falling behind China in the crypto industry.
  • cointelegraph ·

    Crypto remittances in Venezuela surge as economic situation worsens

    Sanctions from the United States, spiraling inflation and government corruption have created an economic nightmare for Venezuelans.
    Crypto remittances in Venezuela surge as economic situation worsens

  • Crypto Industry Disappointed as Digital Assets Fail to Make an Appearance in First 2024 US Presidential Debate

    Despite hopes from industry participants, the topic of crypto was not discussed during the first general debate of the 2024 U.S. presidential election between Joe Biden and Donald Trump. The debate, hosted by CNN, primarily focused on the economy, with brief mentions of other issues such as abortion, immigration, and foreign policy. While crypto has been a talking point throughout the election cycle, neither candidate made any significant statements about it during the debate. The crypto industry is hoping for a Congress and administration that will pass legislation friendly to digital asset businesses, and is looking to repeat the massive spending on elections from 2022.
  • Cointime精选 ·

    Bitcoin and Stablecoins are a Threat to Weak Emerging Market Currencies

    Bitcoin is changing the world. With change comes uncertainty and, for many, anxiety. It is natural to wonder what the future will look like, and also to worry about whether this change will be for the better or the worse. We are creatures of planning, of preparation, but more than anything, of adaptation.
    Bitcoin and Stablecoins are a Threat to Weak Emerging Market Currencies
  • cointelegraph ·

    US banking lobby last-minute bid to stop Biden vetoing SAB 121 overturn

    The American Bankers Association claims that United States President Joe Biden's move will "harm investors, customers, and ultimately the financial system."
    US banking lobby last-minute bid to stop Biden vetoing SAB 121 overturn

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company