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Class Action Lawsuit Against Tether, Bitfinex Dismissed
5.8.2023
A class action lawsuit filed against cryptocurrency firms Tether and Bitfinex was dismissed Friday by a federal judge in New York. The judge ruled the complaint lacked plausible claims of injury and failed to show that Tether’s stablecoin USDT had diminished in value. Judge Dismisses Market...
Reports Suggest 11th-Largest Bitcoin Wallet Belongs to Stablecoin Giant Tether
5.8.2023
A 21.co research analyst has disclosed that Tether, the company behind the world’s most prominent stablecoin by market capitalization, could potentially hold the 11th-largest bitcoin (BTC) address. Additionally, an individual familiar with the matter has verified to The Block that said...
Class-Action Lawsuit Against Tether and Bitfinex Thrown Out
5.8.2023
In a significant legal victory for Tether and Bitfinex, Chief Judge Laura Taylor Swain of the U.S. District Court for the Southern District of New York dismissed a class action lawsuit brought against the stablecoin issuer.
The lawsuit, filed by Matthew Anderson and Shawn Dolifka in 2021, alleged...
Bitcoin Price Prediction As Tether Depegs From $1 – Is BTC in Trouble As Well?
5.8.2023
Bitcoin's price is trading choppy above the $29,000 threshold, and has captured the attention of traders and investors. The current live price of Bitcoin stands at $29,040, with a 24-hour trading volume of $11.3 billion.
As per the recent data, Bitcoin has experienced a nearly 0.50% decline over...
Tether (USDT) Loses 1:1 to US Dollar Amid Heightened Sell Pressure in Curve’s 3pool
4.8.2023
Tether (USDT), the USD-pegged stablecoin issued by web3/fin tech company Tether, fell slightly below its 1:1 peg against the US dollar on Thursday on decentralized exchange (DEX) Curve Finance, pushing the DEX’s main stablecoin liquidity pool (Curve 3pool) into imbalance.
USDT fell as low as 0.998...
Traders Ditch USDT on Curve, Uniswap, Pushing Key Exchange Pools Into Imbalance
3.8.2023
Similar imbalances happened when Terra imploded in May 2022 and after the Silicon Valley Bank crisis hit USDC issuer Circle in March
USDT Issuer Tether Bought $45.4 Million Worth of Bitcoin in Q2 – Here’s What This Means for the BTC Market
3.8.2023
The issuer of the world’s most popular USD-pegged stablecoin USDT, Tether, bought 1,529 bitcoin (BTC) worth $45.4 million in Q2, as per comments by the company’s CTO cited by Bitcoin Magazine.
The purchase shows that Tether is following through on a plan announced back in May to allocate 15%...
Tether Is Going on a Bitcoin Buying Spree, but It Should Be Holding Cash
3.8.2023
The USDT issuer Tether says it holds a lot of U.S. Treasuries and made a lot of money last quarter
Stablecoins: A Potential Counter to De-Dollarization
3.8.2023
Demand for greenbacks in the global economy is increasingly flowing into permissionless stablecoins, even as domestic policies and foreign efforts like a BRICS-issued currency could erode the U.S. dollar's overall dominance
Binance CEO CZ Explores Diversifying Stablecoin Strategy, Eyes Smaller Algorithmic Tokens
2.8.2023
During a Twitter "Ask Me Anything" (AMA) session on July 31, Binance CEO Changpeng "CZ" Zhao expressed his intention to introduce smaller algorithmic Stablecoins to the market for investors to have alternatives to the existing global Stablecoin giants.
In the session, CZ highlighted concerns...
Tether Attestation Reveals Reserve Increase of $850 Million in Q2, Excess Reserves Reach $3.3 Billion
1.8.2023
Tether, the company behind the USDT stablecoin, has published an attestation revealing the company’s financials during Q2 2023. The document, prepared by BDO, a network of accounting and consulting services, found Tether has increased its reserves by $850 million during this period, with...
Tether's Q2 Results: $3.3 Billion in Excess Reserves, Surpassing $1 Billion in Operational Profits
1.8.2023
Stablecoin issuer Tether’s consolidated reserves report for the second quarter of 2023 shows that the company has around $3.3 billion in excess reserves, while profits increased 30% from last quarter to over $1 billion.
The report, which was attested by accounting firm BDO, noted that the excess...
Zero Transfer scammer steals $20M USDT, gets blacklisted by Tether
1.8.2023
Zero transfer scams are becoming prominent in the crypto ecosystem with these phishing scams having already siphoned over $40 million in 2023
The rise of Tether in gaming: Is it worth or not?
1.8.2023
Tether has become increasingly popular in the online gaming world as it provides a secure and dependable medium for transferring funds between different platforms. Its utilization eliminates the need for manual currency conversion and decreases the transaction fees associated with other payment...
‘Let's just diversify and see' — Binance CEO on its stablecoin strategy
1.8.2023
Due to regulatory and transparency risks, CZ says that spreading risk across different stablecoins is the key to longevity
Tether Reports $3.3B in Excess Reserves in Q2, Up $850M for the Quarter
31.7.2023
The company said its operational profits exceeded $1 billion in Q2 this year
Tether’s excess reserves up to $3.3B, holds $72.5B worth of US Treasury bills
31.7.2023
Tether has released its latest reserves attestation for USDT, with its excess reserves increasing to $3.3 billion
Wagner Rebellion Triggered Surge in Ruble-Tether Crypto Trading Amid Currency Turmoil
31.7.2023
Russian private military company Wagner Group’s march towards Moscow in June triggered a 277% surge in trading volume between the stablecoin Tether (USDT) and the Russian fiat currency.
The huge rise in trading volume occurred as Russian traders sought safety from a depreciating Russian ruble...
Singapore High Court rules crypto personal property, compares it to fiat money
26.7.2023
Judge didn’t see any difference between crypto, fiat money or shells, as long as all those objects, physical or not, share value, created by mutual faith in it
Stablecoin Economy Sees $3 Billion Drop: Leading USD Tokens Shrink as Euro-Anchored Projects Display Resilience
25.7.2023
The stablecoin economy continues to shrink, with more than $3 billion in value removed from today’s top stablecoin valuations in less than 40 days. The dollar-pegged tokens USDP and GUSD experienced the largest 30-day reductions, shedding 45.1% and 27.2%, respectively. Top Stablecoins...