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The US Treasury Department warns of malicious actors using cryptocurrencies to evade sanctions, urging stricter regulations within the industry.

As USDT expands its presence on Tron, so do illicit activities on the network.

inance has announced the addition of MXN (Mexican Peso) to its Binance Convert feature. This new addition enables users to trade MXN against popular cryptocurrencies like BTC (Bitcoin) and USDT (Tether).

Teddy Fusaro, president of Bitwise, one of the crypto index fund managers, has praised the business model of Tether, the company behind the largest stablecoin in the crypto market.

The popularity of stablecoins, cryptocurrencies pegged to a stable asset like the US dollar, has exploded in recent years. Recognizing this trend, Ripple, the company behind the XRP Ledger (XRPL), recently announced its USD-backed stablecoin launch. This move has sparked questions about Ripple's motivations and the potential impact on the broader cryptocurrency landscape.

With Tether's remarkable earnings in 2023 setting a benchmark for stablecoin profitability, Ripple seizes the opportunity to launch its USD-backed stablecoin, aiming to challenge Tether's dominance and tap into the lucrative stablecoin market. Tether's Financial Success and Ripple's Strategy Tether's annual net income in 2023 was an impressive $6.

Celo, a low-fee, usability-focused blockchain, has approved using Tether's USDT, a dollar-pegged stablecoin, to pay transaction fees. The passed governance proposal stated this functionality would simplify the transaction experience for users, who only need to hold the USDT stablecoin in their wallets to move value using Celo's network.

The US Treasury is raising alarms over Russia's alleged use of the stablecoin Tether (USDT) to bypass international sanctions and sustain its military operations.

Crypto author Panos Mekras recently linked Ripple's stablecoin ambitions to Tether's financial success. He shared this view after learning of Tether's impressive earnings in 2023.

The US Treasury has warned about Russia's USDT use of illicit activities in its latest report. According to the report, the agency claims that to get around sanctions and keep funding its war machine, Russia is progressively using other payment methods, such as the stablecoin tether.

Tether has constructed mining facilities and renewable energy stations in Uruguay, Paraguay, and El Salvador.

Once again, cryptos are on the move, this time benefiting from a convergence of tailwinds.

US Treasury Deputy accuses Russia of using Tether's USDT stablecoin to evade sanctions.

US Treasury Deputy Secretary Adewale Adeyemo said Russia was increasingly using alternative payment mechanisms like Tether's USDT stablecoin to bypass economic sanctions, according to his written testimony on April 9 to the Senate Banking, Housing, and Urban Affairs Committee. This remark follows increasing reports that malicious actors used Tether's stablecoin for their illicit activities.

In a groundbreaking move, Tether, the issuer of the popular stablecoin USDT, is on the brink of completing its ambitious $500 million investment into the Bitcoin mining sector. Notably, Tether CEO Paolo Ardoino's announcement has stirred anticipation within the crypto community, coinciding with the looming Bitcoin Halving event.

With just 100 employees, Tether's income per employee is 380 times higher than that of JPMorgan.

In 2023, Tether made waves in the financial sector by generating an astonishing $6.2 billion in net income. According to Teddy Fusaro, president at Bitwise, this figure closely competes with banking giants like Goldman Sachs and Morgan Stanley.

Bitcoin's supremacy over major banks has been underscored by Gabor Gurbacs, strategy advisor at Tether and VanEck. With a staggering market capitalization exceeding $1.3 trillion, Bitcoin stands taller than the top four largest banks in the world combined.

USDT's market cap is currently more than $106.6 billion.

Ripple has announced its entry into the stablecoin fray with a US dollar-backed token, setting its sights on challenging industry giants USDT and USDC. The initiative, which will see initial issuance on the XRP Ledger and Ethereum blockchain, aims to diversify and robustify the current stablecoin market, which is estimated to grow to over $2 trillion by 2028.

Ripple's CTO David Schwatrz predicts that the stablecoin market's valuation could soar from around $150 billion now to $2 trillion by 2028.

Gabor Gurbacs, who is a strategic advisor at Tether and fund manager at VanEck, has gone on X to express his view about Ripple's move to introduce another stablecoin. Having recognized the competitive character of the blockchain industry, Gurbacs, however, has underpinned his assertion of the dominance of USDT and Tether.

Tether mints another batch of USDT stablecoins, issuing two billion in two days.

Strategic advisor at Tether and VanEck fund manager Gabor Gurbacs has shared his take on the announced Ripple's plan to launch a stablecoin backed by USD later this year.