Tether To Eliminate Borrowing From Its Stablecoin Backing Fund
Tether Limited, issuer of Tether USD (USDT), plans to eliminate collateralized loans from its reserves.
The Stablecoin War Opens a New Bloody Chapter
Like a Hobbit sequel would, the stablecoin war is being fought by three entities: Tether holdings, Circle/Coinbase, and Binance, with their respective stablecoins USDT, USDC, and BUSD, all fiat-backed stablecoins.
Tether: Bloomberg’s Inexperienced Editorial Team Falls Victim to Short-Sellers
Tether restated that it had absolutely no credit towards FTX or Alameda Research. No special deal whatsoever was established between FTX/Alameda and Tether.
Gambling-Related USDT Funds Grow As 1k New Online Gambling Websites Use Tether
Deposits and withdrawals of USDT among gambling websites through crypto payment platforms are on the rise, according to a <a href="https://wublock.substack.com/p/research-how-usdt-is-used-in-online">report</a> from Wu Blockchain, authored by Bitrace.
USDT Issuer Tether Would Stop Making Secured Loans in 2023, Thanks to FUD
The last few months, especially following the FTX collapse, have been rough for <a href="https://ambcrypto.com/can-usdt-retain-its-stablecoin-crown-these-recent-developments-suggest/">USDT</a> as the currency has been the target of fear, uncertainty, and doubt (FUD).
CFTC Considers Bitcoin, Ethereum, Tether To Be Commodities
The U.S. Commodity Futures Trading Commission (CFTC) stated in its Dec. 13 court filing against FTX founder Sam Bankman-Fried that digital assets like Bitcoin(BTC), Ethereum (ETH), and Tether (USDT) are commodities.
Tether to Reduce Secured Loans to Zero in 2023 Amid Battle Against FUD
In a Dec. 13 post, the stablecoin issuer addressed recent mainstream media FUD (fear, uncertainty, and doubt) concerning its secured loans, among other FUD which have hit the "rumour mill." Tether reiterated that its secured loans are over-collateralized and covered by “extremely liquid assets,” while also adding that the firm would be eliminating these loans throughout 2023, stating: Tether is announcing starting from now, throughout 2023, it will reduce secured loans in Tether’s reserves to zero. (Cointelegraph)
Tether to Reduce Secured Loans in its Reserves to Zero After WSJ Expose
WSJ reported that the company held $6.1 billion of the loans in its balance sheet.
Tether Vows to Remove All Secured Loans From Its Backing in 2023 to Show Solvency
Tether intends to remove all secured loans from its backing in 2023 after The Wall Street Journal said that the stablecoin operator's increasing roster of loans might make it unable to pay back redemptions in the event of a crisis.
Tether To Reduce Secured Loans to Zero by 2023
Tether (<a href="https://cryptoslate.com/coins/tether/">USDT</a>) said it would remove its secured loans in its reserves by 2023, according to a Dec. 13 blog <a href="https://tether.to/en/tether-addresses-fud-around-secured-loans-reveals-plans-to-reduce-these-to-zero-in-2023/">post</a>.
