Tether maintains a liquidity cushion of nearly $3.3 billion to provide stability and trust in its ecosystem, with reserves totaling $86.1 billion, confirming a backing of over 100%.
Tether's claim of working on a sustainable bitcoin mining project is met with skepticism, as viewers question the authenticity of an image featuring Tether logos on shipping containers that appear to be photoshopped.
Coinbase plans to list PayPal's stablecoin, PYUSD, signaling the convergence of traditional finance and the crypto economy and potentially challenging Tether's dominance in the stablecoin market.
Summary: Coinbase and Circle have dissolved the Centre Consortium due to regulatory clarity issues surrounding stablecoins, with Coinbase taking an equity stake in Circle and Circle assuming enhanced responsibilities for the USD Coin (USDC) stablecoin; Binance.US partners with MoonPay to use Tether (USDT) as its new "base asset" for transactions, while Binance faces challenges with fiat withdrawals in Europe; Shopify now accepts USDC payments on its platform, and Solana Pay plans to add additional altcoins; China launches a blockchain-powered data exchange with over 300 participating enterprises.
Tether's chief technology officer, Paolo Ardoino, revealed that the company is planning to begin operations at a Bitcoin mining site in South America, but did not disclose the exact location for security reasons.
Tether (USDT) is the world's largest stablecoin with over $66 billion in market capitalization, despite controversies surrounding its collateral and reserve holdings.
Stablecoin issuer Tether has become one of the top buyers of US Treasury bills, with an exposure of $72.5 billion, ranking above several countries, according to Tether's CTO Paolo Ardoino. This highlights the relevance of USDT in emerging markets as a protection against inflation.
Blockchain trackers have flagged a $1 billion authorization of Tether (USDT) in Tether's Treasury, which will be used to replenish the Tron network for issuance requests and chain swaps.
Stablecoin Tether has invested $420 million in German bitcoin miner Northern Data to gain a 20% stake and access to 10,000 Nvidia H100 GPUs, aiming to become a major cloud GPU player in the AI industry.
Stablecoin issuer Tether has partnered with data firm Northern Data Group to venture into artificial intelligence by purchasing €400 million worth of Nvidia graphic processing units, which will be deployed through Northern Data's cloud service.
Despite announcing its plans to eliminate secured loans, Tether, the largest stablecoin issuer, has experienced a rise in such loans in 2023, with $5.5 billion of loans in its recent quarterly report, although it aims to reduce this to zero by 2024.
A new report by the Federal Reserve Banks of Boston and New York concludes that stablecoins, such as Tether and USD Coin, have similar vulnerabilities as money market funds and could potentially inject instability into the broader financial system.
Stablecoin issuer Tether freezes addresses containing $873,000 USDT linked to illicit activity in Israel and Ukraine, collaborating with local law enforcement agencies to block the use of funds linked to terrorist financing.
Stablecoin issuer Tether has frozen funds in 32 cryptocurrency addresses linked to terrorism and warfare in Israel and Ukraine, working with Israel's National Bureau for Counter Terror Financing (NBCTF) in an effort to counter cryptocurrency-funded terrorism and warfare.
Stablecoin issuer Tether plans to publish real-time data on the reserves backing its largest dollar-pegged stablecoin, USDT, by 2024, according to a Bloomberg report.
Tether, the world's largest stablecoin issuer, plans to start publishing reserve data in real-time by 2024, according to the company's chief technical officer and incoming CEO Paolo Ardoino.
