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North Korea-Affiliated Hackers Stole $600 Million in 2023 — Ten Times More Damaging Than Anyone Else
10.1.2024
North Korea-affiliated hackers stole digital assets worth $600 million in the past year. According to a TRM Labs report, this figure will likely rise to $700 million if additional attacks which occurred at the tail end of the year are traced to the same hackers. North Korea and its affiliates...
USDC Stablecoin Momentarily Depegs to $0.74 on Binance
3.1.2024
Circle's USDC stablecoin spiked down to as low as $0.74 on three occasions today following a marketwide sell-off spurred by a report casting doubt over whether a spot bitcoin ETF will be approved this month
Study: Only 6% of Crypto Exchanges Integrated the Lightning Network
3.1.2024
A new research study has partly attributed the growth in the use of bitcoin “as a transactional layer” to the increased number of crypto platforms that have joined the Lightning Network ecosystem. The study however found that just over 6% of centralized crypto exchanges have...
Orbit Bridge Hack Confirmed, Over $81.5 Million Lost in Cryptocurrency Assets
2.1.2024
Orbit Bridge, an inter-blockchain bridging protocol, has confirmed that it was recently exploited, losing over $81.5 million in several assets, including USDT, DAI, USDC, WBTC, and ETH. Orbit Chain is trying to communicate with the group responsible for the attack and has asked cryptocurrency...
Orbit Chain Hacker Swaps Stolen USDT for ETH, Rakes in $1.45 Million Profits
2.1.2024
Source: Pixabay The attackers behind the recent Orbit Chain exploit successfully converted their ill-gotten gains into Ethereum (ETH), amassing an additional $1.45 million in unrealized profits amidst a 4.7% surge in ETH prices over the past 24 hours. ???? After stealing ~$81.6M in various assets...
Maelstrom CIO Arthur Hayes Alerts Big Banks Will Eventually Cannibalize Tether’s Business Model
31.12.2023
Arthur Hayes, CIO of Maelstrom and former CEO of Bitmex, discussed the eventual demise of Tether and other stablecoin companies. Hayes explained that Tether’s business model, which consists of taking dollars and investing in treasuries, will eventually be cannibalized by big banks like...
Tether CEO Paolo Ardoino Celebrates USDT’s $91.5B Market Cap: ‘Tether Evolved’
29.12.2023
Tether CEO Paolo Ardoino made a retrospective about the company’s growth since its beginnings. In a post in X, Ardoino celebrated the current standing of the company, with its USDT stablecoin reaching a $91.5 billion market cap on several blockchains, $4 billion in excess reserves, and...
Bitrace Report Examines Money Laundering with Stablecoins
27.12.2023
Source: iStock/kali9 A recent report by blockchain researcher Bitrace has shed light on the potential use of stablecoins in money laundering activities. The report, published on December 26 and translated by Wu Blockchain, highlighted two distinct scenarios in which stablecoins, specifically...
Tether Mints $1 Billion USDT for “Inventory Replenish” on Ethereum Network
26.12.2023
Source: Pixabay Tether has minted $1 billion USDT for an “inventory replenish,” according to CEO Paolo Ardoino. In an X post on Monday, blockchain tracking platform Whale Alert reported that the Tether Treasury had minted $1 billion of its eponymous stablecoin, USDT. Tether CEO Ardoino responded...
Can Tether overcome controversies and maintain market dominance?
26.12.2023
As a leader in the stablecoin space and a mainstay of blockchain finance since its founding by iFinex Inc. in 2012, Tether has substantially impacted the state of digital assets. Despite being praised for its ingenuity, Tether has encountered controversy, especially regarding its pegging process...
Over 385 Million USDT on Ethereum Stolen via Pig Butchering in Just Two Years + More News
22.12.2023
Source: AdobeStock / Dang Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news. In this edition: Over 385 Million USDT on Ethereum Stolen via Pig Butchering in Just Two Years MoonPay Launches MoonPay Checkout...
Bitfinex Securities Announces Successful Tokenized Bond Issuance on Liquid Network
21.12.2023
Source: Bitfinex Bitfinex Securities has successfully raised over $5 million in USDT through the issuance of one of the world’s first tokenized bonds on the Liquid Network. ???? Bitfinex Securities is proud to announce a successful raise of $5.2M USDt in one of the world’s first tokenized...
Supply of Stablecoins on Ethereum Protocol 30% Lower Than in 2022 — Study
21.12.2023
The supply of stablecoins on the Ethereum chain has dropped by more than 30% from the peak of $100 billion to $66 billion since 2022. The study data shows BUSD and USDC as the two stablecoins which caused the overall market value to fall from $139 billion to $129.5 billion. Tron Stablecoin Supply...
Stablecoin Dominance Hits Lowest Since December 2021 Despite Record Monthly Supply
21.12.2023
Source: AdobeStock The entire stablecoin market cap dominance fell to 8.07% in December, recording the lowest market share since December 2021, despite adding the largest monthly supply last month since February 2022. The total market capitalization of stablecoins rose 3.43% to $128 billion...
Bitcoin’s Market Cap Increased by a Peak of 172% in 2023 + More News
20.12.2023
Source: AdobeStock / Coloures-Pic Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news. In this edition: Bitcoin’s Market Cap Increased by a Peak of 172% in 2023 Bitfinex Securities Facilitates $5.2M...
Report Highlights USDT’s Role in the Underground Economy of Cambodia
20.12.2023
A recent report from the South China Morning Post (SCMP) explains the enabling role that Tether’s USDT has on the underground Chinese-linked economy of Cambodia. The stablecoin is allegedly used in different activities like sidestepping capital controls for Chinese nationals, who can use...
Tether partners with major payments processor to increase USDT adoption amongst businesses
20.12.2023
Tether (USDT), launched in 2014, is a leading stablecoin pegged to the US dollar for stability. It offers reliable digital alternatives to volatile cryptocurrencies like Bitcoin. With stablecoins tied to various fiat currencies, Tether simplifies cross-border payments and reduces the need...
Bitcoin Struggles for Direction in Run-Up to Christmas + More News
19.12.2023
Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news. In this edition: Bitcoin Struggles for Direction in Run-Up to Christmas Hong Kong’s AIA Carnival to Accept Cryptocurrency Payments in Partnership with...
Report: Bank of Korea Chief Says Growing Use of Stablecoins Threatens Central Bank Operations
19.12.2023
The Bank of Korea governor Rhee Chang-yong recently stated that the growing stablecoin use threatens the operations of central banks. The possible involvement of global networks like Visa and Mastercard in the stablecoin business will likely undermine the monetary independence of countries like...
Tether’s USDT Stablecoin Depegs from US Dollar on Exchanges After Company Froze $435M
18.12.2023
Tether’s cooperation with law enforcement has led to the USDT depeg crisis. Image by akif, Adobe Stock. Tether’s USDT, the largest stablecoin by market capitalization, depegged from its intended $1 price amid growing scrutiny over the company’s December 15 announcement of a wallet-freezing...