U.S. lawmakers call on the Department of Justice to consider criminal charges against Binance and investigate whether Tether is involved in illegal finance
The BLOCK PRO reported that US lawmakers are calling on the Department of Justice to consider bringing criminal charges against Binance and to further investigate the possibility of Tether's involvement in illegal finance.
Tether Plans to Release Real-Time Reserves Reports by Next Year
Tether, the largest stablecoin issuer, plans to release real-time proof-of-reserves reports by next year, according to incoming CEO Paolo Ardoino. While there is no set deadline for the plans, Tether already provides daily reserves reports on its website, which currently shows $84.15 billion in USDT. Ardoino also aims to increase tech investments, engage with regulators, and expand into renewable energy. Recently, blockchain analytics platform Santiment reported that large amounts of Tether are returning to crypto exchanges, which may signal a bullish trend.
Tether: $3.3 billion in excess reserves as of end of Q2
Tether, the stablecoin issuer, is committed to releasing real-time data on reserves supporting USDT in the coming years. Tether has set no hard deadline for achieving this real-time data reporting goal. In the latest quarterly proof, Tether had excess reserves of $3.3 billion as it converted a large number of controversial commercial bills into US government bonds worth $72.5 billion. Tether received a $42.5 million fine from the Commodity Futures Trading Commission (CFTC) in 2021 because USDT was not fully supported for most of the 26 months from 2016 to 2018. According to CoinMarketCap data, since then, Tether's scale has continued to expand, with a market capitalization of $83.9 billion and a daily trading volume often exceeding $30 billion. Last week, the company promoted former CTO Paolo Ardoino to CEO and former executive Jean-Louis van der Velde to an advisory role. Ardoino said he sees Tether as a "tech giant" that will "reshape the future of finance."
Tron Network Mints 1 Billion USDT Through Tether Treasury, Which Will Be Used As Inventory for the Next Issuance
According to Whale Alert monitoring, Tron Network minted 1 billion USDT through Tether Treasury seven hours ago. Paolo Ardoino, Chief Technology Officer of Tether, stated in a tweet that this was an authorized but not yet issued transaction, which means the funds will be used as inventory for the next issuance request and chain exchange.
Bitcoin Holds Strong Despite Recent Price Dip, USDT Accumulation Could Fuel Further Rally
Despite a recent dip in Bitcoin's price due to fake news of a spot Bitcoin ETF approval, Bitcoin is still performing well compared to other cryptocurrencies. The price of Bitcoin is currently up by 1.9%, trading above $28,700, and is expected to rally further due to significant USDT accumulation by top Tether wallets.
A Whale Transferred 7,416 ETH to Binance for Sale, and Withdrew USDT to Repay the Loan on Aave
According to on-chain analyst Yu Jin, a whale transferred 7,416 ETH (approximately $11.64 million) to Binance for sale last night, and then withdrew 12.34 million USDT to repay the loan on Aave. The whale had leveraged long on ETH from June 12th to July 5th: borrowed 18.9 million USDT from Aave by mortgaging ETH, transferred it to Binance, and then withdrew 10,460 ETH at an average price of $1,806. This leveraged long on ETH resulted in a loss of about $1.22 million (-6.5%).
Top 10 USDT wallets regain one-quarter of total USDT supply
Data monitored by Santiment shows that during the cryptocurrency market volatility caused by false ETF news yesterday, Tether's whale wallet was hoarding USDT on a large scale. The largest wallets in the top 10 rankings have regained a quarter of the total USDT supply, and the trading volume on the top stablecoin chain has reached a two-month high.
Tether Freezes 32 Addresses Linked to Terrorist Groups in Israel and Ukraine
Tether has frozen 32 blockchain addresses linked to terrorist groups in Israel and Ukraine, holding assets worth $873,118.34. The move was made in collaboration with Israel's National Bureau for Counter Terror Financing to combat crypto-funded crime. Tether has previously frozen millions of dollars lost to DeFi hackers and phishing scammers, but refused to freeze addresses tied to privacy protocol Tornado Cash after the US Treasury placed sanctions on it last year. Tether has complied with 31 different agencies worldwide to freeze over $835 million in criminal-connected crypto to date.
Tether has frozen 32 addresses linked to terrorism and war in Israel and Ukraine
On October 16th, Tether has frozen 32 addresses related to terrorism and war in Israel and Ukraine, which collectively hold 873,118.34 USDT. Tether stated that it has assisted 31 institutions globally in investigating 19 jurisdictions, resulting in the freezing of assets totalling $835 million, primarily related to theft (hacker attacks), with a small portion related to other crimes.
Tether is about to launch a real-world ecosystem
Paolo Ardoino, the new CEO of Tether, revealed on social media that the Tether Real World Ecosystem is about to launch.
