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Tether (USDT) trading volumes are up by over 35% less than 12 hours after Paxos, the issuer of BUSD, a competing stablecoin, was directed to stop minting new coins.
As reported by Whale Alert, stablecoin issuer Tether has minted another billion USDT. The event came right in the midst of the Binance USD (BUSD) scandal, which the U.S. Securities and Exchange Commission is reportedly seeking to have recognized as an unregistered security.
Traders seem to be migrating from Paxos' BUSD stablecoin to tether.
That a top Wall Street firm is working with stablecoin issuer Tether on its $39 billion in Treasury bonds could dampen worries that the reserves backing USDT are insufficient.
As the SEC looks set to clamp down on dollar-pegged tokens, the oldest stablecoin, Tether, is looking as dominant as ever
Tether has recruited a Wall Street company to handle its Treasury holdings.
The USDT issuer has made inroads into the traditional finance and accounting sectors as it attempts to increase transparency around its holdings.
Stablecoin issuer Tether (USDT) is reportedly using Wall Street financial institution Cantor Fitzgerald to manage its $39 billion bond portfolio, Wall Street Journal reported February 10.
A report by WSJ revealed that Wall Street's Cantor Fitzgerald helps oversee Tether's $39 billion bond portfolio that back its USDT stablecoin.
Tether Reserves: The mystery behind the largest stablecoin appears to be slowly uncovering with news of companies supporting its reserves. According to reports, a Wall Street based firm is the backbone behind maintaining Tether's reserves.
The Wall Street bond trading powerhouse is managing Tether's $39 billion bond portfolio, according to the report.
The latest attestation report of global accounting firm BDO backs up stablecoin issuer Tether's claim that it finally eliminated commercial paper holdings from its reserve in Q4 of 2022. BDO's independent accountant report, which was released on February 8th, reviewed Tether's Consolidated Reserves Report (CRR) as of Dec. 31, 2022.
A New York judge on Friday rejected an attempt by iFinex and related companies, which include include cryptocurrency exchange Bitfinex and stablecoin issuer Tether, to block CoinDesk's request for information about the financial reserves backing the USDT token.
BDO, a global accounting company, has attested Tether's reserves.
Binance is adjusting fees charged to users transacting on Tron, a smart contracting platform and Ethereum competitor. Binance Increases Transaction Fees For Tron-Link Transfers In an update on February 10, Binance, the world's largest cryptocurrency exchange, said the fee adjustment follows a recent upgrade on Tron.
USDT issuer Tether recently published its attestation report for the fourth quarter of 2022. The report, which was put together by accounting giant BDO Italia, took a closer look at the firm behind the world's largest stablecoin.
Generally beleaguered throughout 2022, Tether has managed to improve its financial situation drastically and top it all with a $700 million Q4 net profit. Commercial paper backing FUD upon FUD (fear, uncertainty, doubt) has been heaped upon the company behind the Tether USDT stablecoin for quite some time now, and much was made of the ‘dubious' backing of the US dollar-pegged token.
USDT and its issuer remain a controversial pair in the crypto market.
Top stablecoin Tether on average generated more than $7.5 million in profit every day last quarter, per its latest disclosures
Tether has released a report showing excess reserves and a shift of assets in Treasury bills. The attestation report completed by public accounting firm BDO and released Thursday (Feb.
A report by accounting firm BDO confirms Tether has increased the proportion of its reserve's T-bill holdings to 58%.
Tether Holdings Limited, the company behind the popular stablecoin USDT (CRYPTO: USDT) reported a net profit of more than $700 million in the last quarter of 2022, according to its latest Consolidated Reserves Report (CRR).
The USDT issuer announced that it ended 2022 with excess reserves of at least $960 million.
Tether's latest attestation report revealed that the USDT issuer's assets exceeded its liabilities. CTO Paolo Ardoino claimed that the firm made a profit of $700 million in the last quarter of 2022.
