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%.
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.
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.
PayPal's stablecoin ambitions are driven by potential savings on multicurrency transactions, but Tether co-founder William Quigley believes it is unlikely to bring much innovation and may primarily serve as a cost-saving measure for PayPal. Quigley explains that stablecoins allow PayPal to bypass financial intermediaries, conduct transactions on its private blockchain, and eliminate fees associated with currency conversions. He also highlights the potential profits that stablecoin operators can earn from interest-rate increases.
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.
Tether, the firm behind stablecoin USDT, has made a strategic investment in crypto miner Northern Data Group in support of artificial intelligence initiatives and potential collaborations involving AI, P2P communications, and data storage solutions.
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.
