Tether tumbles in S&P’s stablecoin scorecard
S&P Global, a renowned credit rating firm, has ventured into the volatile terrain of cryptocurrencies by launching a risk assessment scale for the world’s top stablecoins. Notably, Tether, a name synonymous with the stablecoin market, received a near-bottom ranking, a surprising twist given its widespread use and prominence in the digital currency sphere. Assessing the […]
Tether announces new wallet-freezing policy to boost security—what you need to know
Tether, the company responsible for the largest stablecoin in the cryptocurrency market, has taken a proactive step in its security measures by announcing a new wallet-freezing policy today. This initiative, decided on December 1, 2023, aligns with the U.S. Office of Foreign Asset Controls (OFAC) regulations, particularly focusing on individuals on the Specially Designated Nationals […]
El Salvador leverages Tether’s tech for the Freedom Visa Program – Who Is eligible?
The government of El Salvador and Tether, the largest crypto company, announced the commencement of the “Adopting El Salvador Freedom Visa Program” on December 7, 2023. This visa program is designed to foster an atmosphere in which individuals can contribute to the creation of a new socioeconomic landscape for El Salvador, a rising international tourism […]
Tether reports over $1.1 billion profit from Bitcoin holdings
Blockchain-enabled platform Tether has announced an impressive profit of more than $1.1 billion from its Bitcoin holdings, thanks to the recent surge in BTC prices. Tether’s lucrative Bitcoin investment strategy Tether, known for issuing the USDT stablecoin, has made a substantial profit from its strategic Bitcoin investments. Chinese crypto journalist Colin Wu recently revealed that […]
Tether and Bitfinex yield: FOIL request opposition withdrawn
Tether and Bitfinex, key players in the cryptocurrency arena, have taken a noteworthy step towards transparency by retracting their opposition to a Freedom of Information Law (FOIL) request in New York. This decision, initiated by a request from CoinDesk and other high-profile news publications, marks a pivotal moment in the ongoing dialogue about transparency in […]
Why Tether’s partner Britannia bank is facing massive lawsuit
Britannia Financial Group, a name that’s been resonating in the financial corridors for its association with Tether, the largest stablecoin issuer, is now in the eye of a legal storm. The group, which received over $1 billion from Tether, is embroiled in a complex legal battle, revealing the intricacies and risks involved in the banking […]
U.S. Justice Department seize $9 million in USDT – Why?
In a landmark operation, the U.S. Justice Department has successfully seized a hefty $9 million in USDT, Tether’s cryptocurrency pegged to the U.S. dollar. This bold move unveils a complex web of deceit involving more than 70 unsuspecting victims, ensnared in what’s known as “pig butchering” scams. These victims, enticed by the allure of romance […]
Tether freezes over $200m in USDT – Why?
Tether, in an unprecedented move, has frozen approximately $225 million in USDT tokens, linked to a human trafficking syndicate in Southeast Asia. This action, the largest-ever freeze of USDT in history, was executed in collaboration with the United States Department of Justice (DOJ) and global crypto exchange OKX. The decision, rooted in a commitment to […]
Tether has an ambitious plan to dive into Bitcoin mining
Tether, the giant in the stablecoin realm with an impressive $87 billion in circulation, is making a seismic shift towards the world of Bitcoin mining. Paolo Ardoino, poised to assume the reins at Tether, has revealed a bold plan to channel approximately $500 million into a strategic expansion within the Bitcoin mining sector over the […]
Tether Holdings dives into Bitcoin mining with $500 Million investment plan
Tether Holdings Ltd., primarily known for managing the USDT stablecoin, is embarking on an ambitious journey to become a leading player in Bitcoin mining. The company plans to invest approximately $500 million in the next six months, as revealed by Paolo Ardoino, the incoming chief executive. This strategic move is not just about constructing its […]
Tether Mints 4 Billion USDT in a Month Amidst Crypto Market Observations
Stablecoin issuer Tether has been actively minting new USDT tokens, adding 4 billion USDT to circulation in the past month. The latest issuance includes 1 billion USDT on the Tron blockchain on November 10 and 1 billion on Ethereum on November 9. Tether’s Chief Technology Officer and new CEO, Paolo Ardoino, explained that these transactions […]
Inside the decentralized heist: How a group in China laundered $307 million in Tether
In a recent verdict handed down by a court in Tongliang, China, situated near Chongqing, 21 individuals have been convicted for their involvement in an intricate scheme. The scheme pertained to the conversion of proceeds originating from online frauds and unlawful casinos, transacted in Tether (USDT), into Chinese Yuan (RMB). The total of these illicit […]
Tether bolsters financial resilience with record cash reserves, reveals Q3 attestation report
Tether, a leading issuer of stablecoins, has recently published its Q3 attestation report, signed off by the accounting firm BDO Italy. The document revealed that the company holds an impressive $86.4 billion in assets, countering its $83.2 billion in liabilities. Consequently, Tether boasts of having $3.2 billion in excess reserves, lending additional confidence to its […]
U.S. Senator demands criminal charges against Tether, Binance
In a dramatic and unprecedented move, U.S. Senators Cyntia Lummis and French Hill are calling for the Department of Justice (DOJ) to launch a full-blown investigation and press criminal charges against cryptocurrency giants Binance and Tether. These demands follow growing concerns regarding the entities’ potential entanglement in illicit finance activities and their alleged role in […]
Paolo Ardoino’s plans for Tether after takeover
When Paolo Ardoino prepares to step into the CEO shoes of Tether Holdings Ltd this December, there’s bound to be a whirlwind of change in store. The 39-year-old Italian software engineer, better known for his active presence on social media and sporadic media interviews than for any mainstream celebrity posturing, is gonna find himself at […]
Tether plans to publish reserve data in real-time in 2024: Report
Tether Holdings has announced its intention to publish real-time data about its reserves in 2024. Paolo Ardoino, the newly promoted CEO, shared this upcoming feature in a recent interview with Bloomberg. Currently, the company updates its reserves data at least once a day and also releases monthly and quarterly reviews. From regulatory fines to an […]
Tether freezes over $873,000 connected to ‘terrorism and illegal warfare’ in Israel and Ukraine
Tether, the global leader in stablecoin issuance, has bolstered its collaboration with law enforcement agencies worldwide. Aiming to stifle cryptocurrency-fueled terrorism and illegal warfare, the company has been notably proactive. To date, its efforts have aided 31 agencies across 19 international jurisdictions, freezing assets valued at approximately $835 million. Moreover, these actions have largely focused […]
Tether appoints longtime CTO Paolo Ardoino as new CEO
Tether, the company behind the world’s leading stablecoin, has announced the elevation of Paolo Ardoino from Chief Technology Officer to Chief Executive Officer. Ardoino, a central figure in the company since 2017, will officially assume his new role in December. He takes over from Jean-Louis van der Velde, who will transition to an advisory role […]
Tether Debunks FUD On Singapore Terms of Services Changes
Tether, the company behind the widely-used stablecoin USDT, has clarified its position on its terms of service for Singapore-based entities. The clarification comes after Dr. Julian Hosp, CEO of Cake DeFi, a decentralized finance platform, raised concerns about Tether’s onboarding standards in the city-state. Tether CTO debunks FUD Paolo Ardoino, Tether’s Chief Technology Officer, took […]
Tether alters terms of service in Singapore restricting USDT redemption for certain customers
In a surprising turn of events, Tether, the world’s largest stablecoin issuer behind USDT, has made significant amendments to its Terms of Service (ToS) that impact its customers in Singapore. The alterations have raised concerns among users, particularly those associated with the decentralized finance protocol Cake. Tether’s restriction on USDT redemption The CEO of Cake […]
WSJ’s Tether narrative is misleading, claims cryptocurrency giant
Tether, the principal issuer of the leading stablecoin USDT, recently voiced criticism against the Wall Street Journal (WSJ). The cryptocurrency giant asserted that while the WSJ consistently scrutinizes its practices, the publication remains silent on the ongoing challenges in the conventional banking sector. Tether’s stance comes amidst mounting discussions about the broader dynamics of the […]
Tether resumes USDT lending amid previous pledges to discontinue
Tether, the issuer of the stablecoin USDT, has resumed lending operations to clients. It is important to know that this recent move comes less than a year after the company publicly stated it would cease such activities. Tether’s latest quarterly financial update reveals that as of June 30, 2023, the company’s assets included $5.5 billion […]
Tether pumps $1 billion in USDT into TRON’s veins
When you think of the digital currency giants, Tether unmistakably dominates the conversation, especially with its recent decision to pump up the TRON network with a massive dose of USDT. In the highly volatile world of cryptocurrency, this kind of move isn’t just a nod to TRON’s relevance but also a strategic maneuver that underlines […]
Tether’s grip on crypto market eroded by harsh competition
Tether’s once undisputed dominance in the cryptocurrency landscape is being tested. The stablecoin giant, which has long been the cornerstone of the digital-asset market, is seeing its influence wane as challengers step up their game and the industry grapples with regulatory scrutiny and waning investor interest. Tether’s Luster Dims in Stablecoin Wars In the rapidly-evolving […]
Tether ceases USDT support for Bitcoin, Kusama, and Bitcoin Cash blockchains
Tether, a prominent stablecoin issuer, has announced its decision to discontinue USDT blockchain support for Bitcoin, Kusama, and Bitcoin Cash, citing a meticulous evaluation of factors encompassing security, compliance, and customer support. This move reflects Tether’s commitment to ensuring the safety and longevity of chosen blockchains, optimizing maintenance efficiency, and avoiding compromises in security and […]
Tether emerges as a key Bitcoin holder fueling market speculation
In a significant development, Tether, a prominent stablecoin issuer, has quietly risen to become the 11th largest holder of Bitcoin globally. This revelation has ignited curiosity and speculation within the cryptocurrency market regarding the potential impact the firm could wield. While Tether has refrained from officially disclosing its Bitcoin addresses, Tom Wan, a research analyst […]
US District Court dismisses class action suit against Tether and Bitfinex
Chief Judge Laura Taylor Swain of the U.S. District Court for the Southern District of New York issued a thorough, six-page decision on August 4, dismissing the class action lawsuit filed against Tether and Bitfinex by plaintiffs Matthew Anderson and Shawn Dolifka. The lawsuit revolved around allegations that the defendants’ claims concerning the one-to-one backing […]
Tether hits $3.3B in excess reserves, holds $72.5B worth of U.S. Treasury bills
Tether Holdings Limited published its assurance opinion for Q2 of 2023, highlighting a $850 million rise in excess reserves to reach $3.3 billion. The report shows that Tether has been adding on its treasury reserved holding for USDT tokens. The report is the first time the company has disclosed its indirect exposure to United States […]
Tether’s sinister dance with China shows ties beyond its commercial paper
Tether Holdings Ltd. has had a long-standing dance with China for years. Documents released by New York’s attorney general revealed that Tether Holdings Ltd., the issuer of the world’s largest stablecoin, USDT, used to include securities issued by Chinese companies in its reserve portfolio. But Tether’s connections to China run far deeper than its commercial […]
Hong Kong aims to outshine Tether and USD Coin with its own stablecoin
To solidify its position as a global financial hub, Hong Kong is making waves in the cryptocurrency industry with plans to launch its state-backed stablecoin. This move comes as the region’s interest in digital currencies and Web3 technology continues to grow. By creating a stablecoin linked to the Hong Kong dollar, the government aims to […]
Tether and Georgia forge an alliance for cutting-edge Bitcoin P2P development
Tether, the leading stablecoin issuer, has inked a momentous Memorandum of Understanding (MOU) with the Georgian government, propelling Georgia into the forefront of blockchain and peer-to-peer (P2P) technology. This strategic alliance is set to spark a monetary revolution with far-reaching implications. In a bold move reflecting their commitment to global expansion, Tether’s stablecoin issuing platform […]
Tether expands stablecoin reach, USDT now on Kava blockchain
Tether Operations Limited, the entity behind the pioneering USDT stablecoin, has announced its expansion to the Kava blockchain. However, this strategic move further solidifies Tether’s position as the most widely adopted stablecoin and promises to enhance liquidity across multiple blockchains. Kava, a layer-1 blockchain founded in 2018, is known for its innovative co-chain design that […]
Tether breaks silence on account deactivation controversy
Tether has responded to concerns raised about its recent operational decisions. The New York Attorney General (NYAG) released documents indicating that Tether deactivated approximately 29 accounts belonging to prominent cryptocurrency players in 2021. While specific reasons for the account terminations were not disclosed, the Company has stated that it is not willing to comment on […]
Tether responds to reports on Chinese securities backing USDT reserves
Stablecoin issuer Tether has published a detailed response to reports that its reserves once included securities issued by Chinese state-owned companies. Media outlets, including Bloomberg, highlighted New York’s Attorney General (NYAG) documents revealing that Chinese securities backed Tether’s USDT stablecoin. In its response, Tether stated that the information presented by the media outlets needed to […]
Tether makes waves in crypto market with 1 billion USDT token issuance on Ethereum
Tether, the leading issuer of stablecoins worldwide, has once again made waves in the cryptocurrency market. In a surprising move, Tether has issued an additional 1 billion USDT tokens on the Ethereum blockchain, as reported by the vigilant Whale Alert monitoring system. This strategic decision by Tether is part of their ongoing efforts to bolster […]
Tether paves the way for green crypto mining with $250 million investment in El Salvador
In a groundbreaking partnership to advance sustainable cryptocurrency mining, Tether, the prominent stablecoin provider, has committed a substantial investment of $250 million into a renewable energy project in El Salvador. This move by Tether signifies a significant step towards a greener and more eco-friendly future for the cryptocurrency industry. The investment will be directed towards […]
Tether reaches all-time high market cap and expands presence in Georgia
Tether, the leading stablecoin issuer, has recently made significant strides in the crypto market, reaching new milestones and expanding its presence in Georgia. The company’s updates and strategic investments showcase the growth and resilience of Tether amidst a dynamic industry. Tether rebounds and surpasses all-time high market cap After experiencing a setback of approximately $20 […]
Tether uses Bitcoin to strengthen its reserves
In a bold move that marks a significant strategy shift, Tether International Limited, the organization behind the pioneer and most popular stablecoin, has declared its new investment plan. The strategy entails strengthening its reserves portfolio through periodic Bitcoin (BTC) purchases, using up to 15% of its net realized operating profits, according to the company’s recent […]
Former SEC member John Reed Stark slams Tether as a ‘crypto counterfeiter
John Reed Stark, a seasoned lawyer who once served as an esteemed member of the U.S. Securities and Exchange Commission (SEC), has boldly voiced his grave concerns regarding the renowned cryptocurrency known as Tether. With an unwavering conviction, Stark has leveled a weighty accusation against this digital asset, branding it as nothing short of a […]
How much does Tether (USDT) hold in reserves?
Gabor Gurbacs, a well-known figure in the cryptocurrency sphere and the founder of PointsVille, has voiced his insights on the role of precious metals within Tether’s financial strategy. As he stated on May 12, 2023, Gurbacs, who also held the position of Director of Digital Assets Strategy at VanEck, referred to the stablecoin as a […]
