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The growth of the world's largest stablecoin, namely USDT (Tether), continues: its dominance has expanded to such an extent that its market capitalization has risen to nearly 3.7 times that of the world's second largest stablecoin, namely USDC (USD Coin).
Northern Data Group plans to expand its investments in its three core business segments: Taiga Cloud, Ardent Data Centers, and Peak Mining.
A Chinese court near Chongqing sentenced 21 people for online fraud, CoinDesk reported. Two defendants with surnames Jiang and Zheng employed 19 other money mules used decentralized wallet Bitpie to move $307 million in Tether (USDT) to local P2P exchanges on virtual currency platforms for Renminbi conversion, The same funds were later withdrawn in traditional currency in different cities across the country under false usages like project payments and workers' wages.
Northern Data has secured a $610 million debt financing facility from Tether to expand its Bitcoin mining, AI and data center operations.
Tether USD (USDT) is the leading stablecoin in the cryptocurrency market and acts as the main fiat ramp to cryptocurrencies. USDT's high liquidity and adoption as a fiat ramp make it an important indicator of overall interest in crypto.
Tether extends US$610 million loan to boost Northern Data's AI and Bitcoin mining operations.
Northern Data AG, a major player in the field of Bitcoin mining headquartered in Frankfurt, has recently closed a substantial financial deal amounting to €575 million in debt financing.
Taiwanese law enforcement recently revealed the seizure of more than 320 million USDT stablecoins from an alleged money launderer. The seizure has been described as Taiwan's largest bust ever from a single individual.
Northern Data Group says the financing will strengthen its ability to invest in “the most sophisticated hardware available.
Tether provides Northern Data with a $610 million debt financing facility, furthering its involvement in Bitcoin mining and AI initiatives.
In September 2023, Tether also invested an undisclosed amount in Northern Data in a move backing AI initiatives.
In a recent verdict handed down by a court in Tongliang, China, situated near Chongqing, 21 individuals have been convicted for their involvement in an intricate scheme. The scheme pertained to the conversion of proceeds originating from online frauds and unlawful casinos, transacted in Tether (USDT), into Chinese Yuan (RMB).
Tether's financial report unveils an 80% cash reserve, reducing unsecured loans. With an $84 billion market cap, USDT maintains its dominance in the stablecoin world.
The Electronic Investigation Team of the Criminal Bureau in Taiwan has nabbed an individual suspected of laundering a record $320 million through digital assets, making it the largest single case of crypto-related money laundering in Taiwan. What Happened: The suspect identified by the surname Qiu was first discovered in June 2023 in an investment fraud case wherein a fake securities trading app surfaced through an investigation started in 2022.
In an Oct. 31 post, Tether Holdings Limited shared its assurance opinion for Q3 2023, which reaffirmed the accuracy of Tether's reserves report.
On Tuesday, Tether Holdings Ltd.'s financial statements for the third quarter of 2023 were validated by BDO, an internationally known independent public accounting firm. The firm gave an assurance opinion, revealing $3.2 billion in surplus reserves supporting the company's tokens, some of which are backed by U.S. Treasuries.
International links has been uncovered in Taiwan's largest crypto-related money laundering case.
Tether has reduced their bitcoin holdings for the first time since they promised in May they would invest 15% of their profits in bitcoin.
With the “Uptober” phenomenon once again confirming its seemingly supernatural powers, cryptos dominate speculative discussions.
Taichung, Taiwan – In a significant development, Taiwanese police have successfully dismantled what appears to be the nation's largest crypto-related money laundering operation. The operation involved a staggering 324.2 million USDT and was linked to an investment fraud case that came to light.
The recently published Tether report for Q3 2023 show that the company's cash reserves are healthy and secured loans have been reduced.
The police force uncovered the money laundering group in June related to an investment fraud case.
KuCoin, a major cryptocurrency exchange, recently launched a new feature called Pre-Market Trading. In the first hour, it attracted nearly 2 million USDT in trading volume and reserved 4.3% of the initial market liquidity, acting as a pricing reference for users.
Circle Internet Financial, the issuer of the USDC stablecoin (USDC), announced yesterday that it is discontinuing the ability for individual accounts to create stablecoins. A spokesperson from Circle told CoinDesk that the company is “phasing out support for legacy consumer accounts” and has informed the affected users about this change.
