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Big banks are poised to enter and potentially dominate the stablecoin market, overshadowing current leaders like Tether, according to former BitMEX co-founder Arthur Hayes. In a recent interview with Unchained's Laura Shin, Hayes said that centralized stablecoins have found a lucrative niche due to the reluctance of traditional banks to engage in similar activities.
Arthur Hayes, former CEO of Bitmex and CIO of Maelstrom, predicted that major banks like JPMorgan will overshadow Tether and other stablecoin companies once they are permitted to issue fiat-backed stablecoins.
In a move reflecting Tether's increasing dominance in the crypto space, the stablecoin giant withdraws a substantial 8888.88 BTC from Bitfinex, solidifying its position as the tenth largest BTC holder. Tether's crypto reserves now stand at an impressive 66,465.2 BTC, valued at $2.82 billion. The strategic withdrawal and remarkable profit of $1.
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 JPMorgan when they get allowed to issue fiat-backed stablecoins.
Hong Kong recently proposed stringent regulations for stablecoins, signaling its ambitions to become a virtual asset hub. However, the recent development poses potential challenges for popular stablecoins in the market.
China's Supreme People's Procuratorate recently issued a cautionary statement regarding the use of Tether (USDT), emphasizing its illegality in converting local currency to foreign currency.
China is intensifying its scrutiny of cryptocurrency usage, focusing particularly on Tether (USDT) in foreign exchange trading.
Tether, led by CEO Paolo Ardoino, recently conducted a comprehensive review of its trajectory from inception to its current position in the cryptocurrency landscape. Ardoino expressed satisfaction with the company's achievements, highlighting the remarkable $91.5 billion market cap of the USDT stablecoin across various blockchains.
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.
China's Supreme People's Procuratorate has warned that using Tether as a medium of exchange between local and foreign currency is illegal.
In a recent buzz within the crypto sphere, Tether, the leading issuer of stablecoins, has made headlines by minting an astounding $8 billion worth of USDT tokens. This substantial surge, occurring over the past three months on Ethereum and Tron blockchains, has triggered conversations and speculations across the cryptocurrency community.
The Chinese governmental authorities have decided to crackdown on the use of cryptocurrencies in illegal foreign exchange trading. On Wednesday, December 27, 2023, the Supreme People's Procuratorate and State Administration of Foreign Exchange directed prosecutors and forex regulators to supervise foreign exchange activities stringently.
The company behind the stablecoin Tether has generated $8 billion worth of USDT across Ethereum (ETH) and Tron (TRX) blockchains within the last three months.
USDT stands strong in 2023's bear market, adding $4 billion in reserves and securing Tether potential as the largest stablecoin with a 37% YTD market cap increase Read more
Barring the odd incident, USDT held firm to its value of $1 in 2023.
Tether CEO Paolo Ardoino announces exciting plans for the future, including product launches and team consolidation.
The stablecoin issuer Tether has minted $8 billion worth of USDT on Ethereum (ETH) and Tron (TRX) in the past three months, according to the crypto tracker Lookonchain. Lookonchain notes the Tether treasury just minted $1 billion in USDT on Ethereum on Monday.
Tether minted an unreleased 1 billion USDT to enhance liquidity and facilitate future issuance/chain swaps, triggering some skepticism from the community.
Tether's recent billion-dollar minting for inventory replenishment has sparked debates on transparency, impact, and potential market influences, despite significant growth.
Tether's recent billion-dollar minting for inventory replenishment has sparked debates on transparency, impact, and potential market influences, despite significant growth.
To strengthen its financial reserves, Tether, the entity responsible for the world's largest stablecoin USDT, has recently affirmed the creation of an additional one billion USDT. This notable initiative, termed an ‘inventory replenishment,' is crucial to Tether's strategic approach to adapt to the dynamic cryptocurrency landscape.
Tether market cap hits a new high of $91 billion, solidifying its position as the leading stablecoin. The post Tether Market Cap Reached $91 Billion appeared first on.
According to a recent op-ed from Bloomberg, it's been a happy holiday for cryptos to watch and their loyal advocates.
Tether, a major stablecoin issuer, has minted an additional $1 billion of its USDT stablecoin on the Ethereum blockchain. This move is said to “replenish” its inventory in anticipation of a surge in demand.
