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TL;DR Record Profits: Tether achieves $2.85B in profits in Q4 2023, totaling $6.2B annually. 90% Coverage with Cash: The cryptocurrency backs 90% of its tokens with cash, indicating financial stability. Elimination of Loan Impact: Surpluses of $5.4B exceed remaining loans, fulfilling the promise to eliminate their impact.
The stablecoin issuer saw “record-breaking net profit” in the last quarter of 2023, primarily due to earnings from U.S. Treasury securities.
The USDT stablecoin issuer held over $5.4 billion in excess reserves as of 2023 year-end, according to its latest attestation.
Stablecoin issuer Tether has reported a record net profit of $2.9 billion in its Q4 2023 attestation report.
Tether's net profits during the fourth quarter hit an all-time high, the company said Wednesday.
Tether Q4 net profit hits $2.85 billion, driven by strong performances in U.S. Treasuries and other assets.
In the past month, data reveals a significant increase in the combined market capitalization of leading stablecoins, rising from $131.71 billion to $136.56 billion. The top two stablecoins, tether and usd coin, experienced notable expansions in their supplies, with increases of 4.8% and 7.2% respectively.
Stablecoin inflows see a marked rise - what are the different reasons behind this market shift?
With crypto investment opportunities having gone mainstream with the introduction of spot-market exchange-traded funds (ETFs), it's become a public service announcement to warn anybody directly
In an exciting turn of events, the cryptocurrency market is poised to extend its recent comeback, buoyed by a fresh $1 billion injection of capital from Tether, a leading stablecoin issuer.
Data revealed by Kaiko shows that Tether's euro-pegged stablecoin has traded at a “persistent discount” to the euro since November 2023.
The broader cryptocurrency has been experiencing some volatility with Bitcoin (BTC) and other altcoins making a move upwards. On Monday, the Bitcoin price jumped to $43,500 amid the optimism among investors for the upcoming FOMC meeting this week.
Tether has minted an additional $1 billion in USDT tokens on the Tron blockchain. This move comes amidst a period of aggressive expansion for the stablecoin operator, having added $13 billion in USDT to Ethereum and Tron platforms since October of the previous year.
The cryptocurrency market has once again garnered global attention with a significant shift in Bitcoin's price. The extensive minting activity by Tether has ignited widespread discussions and in-depth analysis within the community.
Stablecoin operator Tether again minted a trove of USDT tokens on Tron's network, but there's a catch: the coins aren't yet available for swaps or transactions.
Tether (USDT), the largest stablecoin by market capitalization, seems to be on track to reach a $100 billion market cap as the market eyes fresh inflows of capital into the crypto space.
Tether Treasury mints a monumental 1 billion USDT on the TRON network, boosting liquidity.
Tether's Treasury substantially transferred USDT tokens to the well-known exchange, Bitfinex. The transaction, valued at approximately $229,956,875 at the time of disclosure, involved a staggering 230,000,000 USDT tokens.
In a massive phishing scam, $12 million vanished from four victims within five days, exposing critical gaps in cryptocurrency security. The prevalent use of create2, a standard tool, empowers malicious actors to exploit temporary addresses and sidestep wallet defenses based on address blacklists.
The crypto technologies do not seem to pose a significant or systemic risk regarding global financial crime.
At first glance, it appears that cryptos have suffered from the phenomenon known as buy the rumor, sell the news.
There might be a correlation between what is happening in the last few days on Bitfinex and the price of BTC.
Santiment highlights how whale accumulation of the most used cryptos is important for a trend shift in crypto prices.
Whales on Bitfinex are strategically driving a surge in USDT reserves through calculated decisions.
