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Over the week, it's risen by 15.77%. Bitcoin's market value is $1,017.64 billion, while Ethereum's is $347.58 billion.

In the ongoing saga of FTX's financial woes, fresh legal entanglements have surfaced for the former CEO of the troubled cryptocurrency exchange.

FTX's legal drama continues with a new lawsuit, alleging how the firm secretly created and sold Tether stablecoins as part of a profit-making scam.

In a recent turn of events following the conviction of Sam Bankman-Fried (SBF) on fraud charges, a lawsuit has been filed unveiling deeper connections between SBF, Deltec Bank, and the USDT stablecoin issuer Tether.

Deltec Bank & Trust, a prominent financial institution in the Bahamas, faces legal action that accuses it of enabling FTX and its subsidiaries to benefit from Tether (USDT).

What does Sam Bankman-Fried, Tether, and Bahamas-based Deltec Bank have in common?– alot more than you think.

FTX companies created and profited from Tether through an arrangement with a partner bank, according to a court case described by Bloomberg on Feb. 17.

A Circle executive told Congress this week that she hopes the U.S. Treasury Department considers taking action against Tether. Caroline Hill, senior director of global policy and regulatory strategy at Circle, testified before the House Subcommittee on Digital Assets, Financial Technology, and Inclusion on Thursday. Circle issues USDC, the second-largest stablecoin by market cap.

Stablecoin giant Tether nears $100 billion milestone, sparking both celebration and regulatory anxieties.

The cryptocurrency world watches with a mix of intrigue and apprehension as Tether (USDT), the most prominent stablecoin, inches closer to a seemingly mythical $100 billion market capitalization.

Representatives of Coinbase and Circle spoke at a United States Congressional hearing on February 15 and referenced concerns on Tether.

The cryptocurrency industry has seen increased scrutiny from regulatory bodies and competitors, with Tether, a leading stablecoin issuer, finding itself at the center of controversy.

Coinbase and Circle executives have called on the U.S. authorities to intensify actions against Tether and offshore crypto firms that fail to comply with regulations.

Tether (USDT) stands on the verge of a monumental milestone, with its market capitalization nearing the $100 billion mark.

Circle's policy rep says the company has seen evidence that Tether is contributing to terrorist financing.

Tether reaffirms its commitment to preventing misuse of stablecoin technology by collaborating with global law enforcement agencies.

Tether (USDT), the leading stablecoin on the crypto market, is on the verge of a monumental achievement as its market capitalization inches closer to a historic $100 billion all-time high. According to the latest data from CoinMarketCap, USDT currently commands a market cap of $97.1 billion, representing a stunning increase from its previous figures.

Ethena Labs has successfully secured $14 million in a strategic funding round. It was led by heavyweights such as Dragonfly, Brevan Howard Digital, and Arthur Hayes' family office, Maelstrom.

Stablecoin issuers Tether told CryptoSlate in a Feb. 16 statement that it is actively averting the misuse of stablecoin technology by working with global law enforcement agencies.

The CEO brushes off worries as jealousy, but concerns persist due to Tether's lack of transparency. Despite its dominant position, these issues could undermine trust and contribute to market volatility.

USDT's appeal relative to other stablecoins will likely diminish as regulations will require more transparency and compliance with new anti-money laundering standards, the report said.

The banking giant JPMorgan has raised concerns about Tether possibly being controlled by U.S. authorities soon. Despite its offshore base, Tether's dominance and regulatory challenges could reshape the stablecoin landscape in the States. Tether's Vulnerability to U.S. Authorities JPMorgan's report highlights the power of U.S.

As MiCA take effect, the great stablecoin exodus is expected to start, with euro stablecoins emerging as a potential game-changer.

"U.S. regulators can exert some control on Tether's offshore usage via OFAC," according to JPMorgan analysts.