The Evolution of Tether's Reserves
Tether will continue to fight for financial freedom and support projects and organizations which advance global freedom and financial inclusion in the emerging markets.
Tether Market Cap Nears $70B As SEC Crypto Crackdown Hurts Stablecoin Rivals
The U.S. Securities and Exchange Commission (SEC) wants to sue Paxos for issuing and listing stablecoin Binance USD (BUSD) to the benefit of its top-rival stablecoin Tether (USDT), whose market capitalization has risen to multi-month highs.
Tether USDT Gains $1 Billion as Paxos Burns Over $1.8B of Binance USD Stablecoins
Tether’s USDT, the largest stablecoin by circulating supply, has gained some $1 billion in market capitalization as crypto investors flee rival Binance USD (BUSD), which fell under regulatory scrutiny earlier this week.
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)
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.
