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Chinese police in Shanxi Province have apprehended 21 individuals allegedly involved in a USDT money laundering scheme, according to a report by China's national broadcasting service, CCTV, on Tuesday. The suspects are accused of illegally purchasing and selling USDT, an asset-backed stablecoin pegged to the US dollar and operated by Tether Limited Inc.
The suspects allegedly purchased Tether's stablecoin over-the-counter and sold it at inflated prices over WeChat.
In recent months, the market capitalization of tether (USDT) has experienced a remarkable increase, closely mirroring the surge in bitcoin's (BTC) price. Conversely, its counterpart, USD Coin (USDC), has encountered a substantial decline in market cap.
In a major crackdown on cryptocurrency-related illegal activities, authorities in China's Shanxi Province have arrested 21 individuals involved in an alleged money laundering scheme linked to USDT, a popular stablecoin pegged to the U.S. dollar.
With the Federal Reserve possibly on the cusp of raising interest rates, cryptos have bounced around in a sentiment tug-of-war.
Chinese authorities crack a major USDT-linked money laundering case, arresting 21 suspects and seizing over 1M yuan.
Flipper is rebranding from AQX and has set its eyes on mobile trading, with an aim of attracting more newbie traders.
Fantom has verified that approximately over $60M USDC and over $2M USDT have been frozen and are in the process of identifying other affected assets.
Tether – one of the largest and most popular stable currencies around – has announced plans to open a huge bitcoin mining facility in the South American region of Uruguay. The clincher?
TON blockchain based Wallet has enabled in-app crypto payments (BTC, USDT, TON) for merchants on Telegram.
Telegram Wallet Bot launches Wallet Pay with in-app payments using Bitcoin, USDT, and TON. Instant and secure payments for goods and services; merchants can tap into Telegram's vast user community.
Telegram introduces in-app payments through its Wallet Bot, enabling users to transact in Bitcoin, USDT, and TON seamlessly.
Users will be able to make payments to merchants using Tether, Toncoin and Bitcoin directly within the Telegram app.
Wallet, a custodial wallet bot on Telegram, says that merchants should sort out for themselves whether their jurisdictions allow them to accept payments in crypto.
Tether, one of the largest stablecoin issuers, has recently made a significant move in the cryptocurrency market. With the release of an additional 1 billion USDT on the Ethereum and TRON networks, Tether aims to solidify its market dominance and enhance its interoperability.
The top stablecoins have continued to see redemptions over the past 30 days as the dollar-pegged crypto economy currently hovers at $127.32 billion on July 12. The stablecoin BUSD's supply has dropped below the 4 billion mark as the token's number of coins in circulation has fallen 16.7% over the last month.
Tether Treasury has minted 1 billion USDT, equivalent to $1,000,485,000, on the Tron network
Tether has made a significant move in the cryptocurrency market today by issuing an additional 1 billion USDT on the TRON network.
The on-chain patterns of the top two stablecoins by market cap could hint at when the crypto markets are gearing up for another leg up in price, according to the analytics firm Santiment.
Although cryptos have enjoyed a big leap forward since last month, the blockchain may be at a crossroads due to the Fed.
New updates on the on-chain situation of cryptocurrencies: Tether (USDT) is seeing an increase in its presence on exchanges, giving positive stimuli for increased market volatility.
Tether's Chief Technology Officer, Paolo Ardoino, has provided insights into the recent depegging incident involving USDT, the world's largest stablecoin by market cap.
With an abrupt halt in their tracks, over $65 million in cryptocurrency assets related to a possible exploitation of the cross-chain routing protocol, Multichain, has been frozen by the stablecoin giants, Circle and Tether. The blockage was a response to significant yet unaccounted for withdrawals from the Multichain MPC bridge that transpired on July 6.
Tether chief technology officer Paolo Ardoino is addressing a recent depegging of USDT, the largest stablecoin in the world by market cap. Over the weekend, USDT appeared to lose its peg to the dollar, briefly trading as low as $0.94 on Binance.US.
