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Tether, the issuer of the stablecoin USDT, has resumed lending operations to clients. It is important to know that this recent move comes less than a year after the company publicly stated it would cease such activities.
Explore Tether's surprising venture into the AI GPU market with a whopping $420 million investment in Nvidia's H100.
Stablecoin issuer Tether has resumed lending USDT to clients, walking back a prior commitment to discontinue the practice.
The world's largest stablecoin is reported to have spent $420 million on 10,000 H100 GPUS from the Bitcoin miner Northern Data, according to a report in Forbes.
Damoon, a Tether subsidiary in which Northern Group acquired a stake earlier this year, has purchased $427 million of Nvidia chips for generative AI cloud computing.
An unfortunate crypto investor has reportedly been swindled out of a staggering $4.46 million in a phishing scam involving Tether (USDT).
Tether Group, the issuer of stablecoin Tether (CRYPTO: USDT), is buying thousands of Nvidia (NASDAQ: NVDA) H100 GPUs for $420 million. The deal includes a 20% stake in German-listed bitcoin miner Northern Data, which intends to rent the chips to artificial intelligence (AI) startups.
Stablecoin giant Tether has taken a strategic step into the realm of emerging technologies by investing in Northern Data Group through its subsidiary, Damoon. Both companies share a focus on emerging technologies.
On Sept. 19, Justin Sun, founder of Tron Network (CRYPTO: TRX) tweeted: “1B #USDT on #TRON.” The Tron Network account echoed the celebration, tweeting: "#TRON is the king of #USDT".
Through the partnership, Tether and Northern Data Group will collaborate on AI, communication and data storage initiatives.
Tether Holdings' surprising revival of secured loans raises questions about transparency and its departure from its 2023 phase-out plan.
Tether has offered new loans in USDT to clients almost a year after it said it would stop offering secured loans in 2023.
Tether has invested a whopping $420 million to purchase thousands of GPU chips for a German crypto mining firm through an Irish shell company.
Tether published a response addressing concerns related to its stablecoin lending activities.
In a recent development, Tether's CTO, Paolo Ardoino, clarified a recent transaction involving Tether's treasury.
Stablecoin issuer Tether has restarted lending, as its Q2 financial report shows an increase in loans compared to Q1.
Stablecoin issuer Tether (USDT) has silently resumed its secured lending services less than a year after publicly announcing that it would remove it this year. Using Tether's quarterly financial update, the Wall Street Journal reported that the stablecoin's issuer loan assets increased to $5.5 billion as of June 30 from the $5.
Tether Holdings, a prominent player in the stablecoin industry, has recently resumed lending its USDT stablecoins despite initial pledges to suspend such activities. This decision has sparked concerns within the cryptocurrency community due to the potential risks associated with Tether's dominant position in the market for stablecoins.
Tether Holdings has resumed lending services in its stablecoin less than a year after promising to “reduce lending to zero.
Tether said the new loans were made on request of some of their long-standing partners and they plan to cut it down to zero by 2024.
The prominent stablecoin issuer Tether resumed lending its stablecoins to customers due to increased demand from valued clients, marking a return to the practice less than a year after discontinuing it.
Steblecoin issuer Tether Holdings started lending USDT stablecoins to customers a year after the company promised to stop offering secured loans. Tether's secured loans raised concerns among crypto investors as it could have potential risks and destabilize the market due to its dominance in stablecoins.
Tether Group, the company behind the stablecoin Tether (USDT), has purchased 10,000 Nvidia H100 graphics processing units (GPUs).
An astounding $4.5 million in USDT falls prey to a phishing scam, originating from a compromised Kraken exchange wallet. The rising trend of cryptocurrency phishing scams continues to pose a significant threat.
