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Tether's USDT stablecoin value wobbled from its $1 peg amid the market carnage that wiped nearly $100 billion from the crypto market on Aug. 17. Typically, cryptocurrency traders resort to stablecoins as a hedge against the inherent market volatility within the industry.
Binance, the world's leading cryptocurrency exchange, has unveiled plans for a significant token swap. This initiative entails the conversion of all New Bitshares (NBS) tokens residing within user wallets to US dollars, marking a departure from the initial trajectory set almost a year ago.
Along with Bitcoin Omni Layer, Tether has also decided to discontinue the stablecoin versions of Bitcoin Cash and Kusama.
Tether has announced a strategic transition that will see the company withdraw support for USDT issued on Omni, Kusama, and Bitcoin Cash's Simple Ledger Protocol (SLP).
Tether, a prominent stablecoin issuer, has announced its decision to discontinue USDT blockchain support for Bitcoin, Kusama, and Bitcoin Cash, citing a meticulous evaluation of factors encompassing security, compliance, and customer support.
Yesterday, Tether, the world's largest stablecoin issuer, announced the withdrawal of its work on Omni, which represents a layer built on top of the Bitcoin network.
Coinbase noted that Tether's USDT doesn't meet their listing standards for Canada and thus they decided to suspend the stablecoin.
Key Points: Binance has announced the issuance and conversion of delisted New Bitshares (NBS) tokens held by its users. This transition is set to take place promptly at 08:00 on September 9th, with a snapshot taken to determine the NBS token balances based on users' Binance Wallet location records.
USDT secured dominance as far as usage on the Tron network is concerned. It even managed to outshine Ethereum which currently accounts for 43% of usage on Tron.
Tether ceases support for Kusama, Bitcoin Cash SLP, and Omni Layer due to evolving crypto needs. The move follows Q2 earnings surpassing $1 billion.
Coinbase has declared its intention in an email to customers to suspend trading for three widely used stablecoins in Canada, which includes trading of the largest stablecoin, Tether (USDT).
Tether, the largest stablecoin issuer, announced it would stop supporting several smaller blockchain protocols over the coming year. This move reflects Tether's migration toward larger networks like Ethereum and Tron. Specifically, Tether will cease issuing and interacting with the dollar-pegged USDT token on Omni, Kusama, and Bitcoin Cash by August 17th, 2022.
On August 17th, Coinbase announced that it would halt trading of Tether (USDT), Dai (DAI), and RAI stablecoins for Canadian users starting August 31st. This move comes in response to changing regulatory requirements in Canada, where authorities have been tightening their grip on the crypto industry.
Coinbase, a crypto exchange, will discontinue the trading of USDT, DAI, and RAI stablecoins for its Canadian users from September 2023
Coinbase sent Canadian users an email on Thursday and announced it would suspend their ability to trade for the stablecoin Tether at the end of August.
The Tether (USDT) stablecoin will no longer be issued on the Bitcoin Omni Layer, while redemptions will still be open for at least a year.
Coinbase has announced that it will suspend trading of USDT, DAI and RAI at the end of this month.
On Aug. 17, leading stablecoin firm Tether announced its decision to discontinue support for its USDT stablecoin on three blockchains and blockchain layers: the Omni Layer, Kusama, and Bitcoin Cash SLP implementations of its USDT stablecoin.
The exchange expanded its services in Canada earlier this week.
Tether will no longer mint USDT on Omni – the first protocol ever to support USDT.
The company is also suspending trading for DAI and RAI, claiming they no longer meet listing standards.
Tether, the stablecoin issuer, is set to halt its support for USDT on the Bitcoin, Kusama, and Bitcoin Cash platforms following a strategic evaluation of blockchain usage and efficiency
Coinbase, a prominent cryptocurrency exchange, has recently announced its decision to suspend trading of certain stablecoins for Canadian users starting from August 31. This development comes as part of Coinbase's ongoing efforts to ensure that the assets listed on its platform align with its stringent listing standards.
Coinbase is discontinuing its support for Tether (USDT), DAI, and RAI for its Canadian users, effective August 31. The news was first reported by Cointelegraph, citing a customer email it had reviewed dated Aug. 17.
