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Tether has never seen collapse in market cap

Tether has asserted that Alameda's collapse does not affect the company or its stablecoin, USDT, adding that the USDT with the beleaguered trading firm posed no threat.

Leading crypto companies such as Tether are scrambling to reassure users that their products and services are free of FTX and Alameda contagion.

The outflow of stablecoins from exchanges has been on the rise in the wake of the FTX saga. Users appear to be taking custody of their assets, which might have a negative effect on exchanges if it persists.

Multiple exchanges disabled deposits and withdrawals for Solana-based Tether  (CRYPTO: USDT) and USD Coin (CRYPTO: USDC) on Thursday. What Happened: Tether, in a blog post, said, “the move to suspend USDT deposits on these exchanges is likely just due to the heavy connections between FTX (CRYPTO: FTT), Alameda, and Solana (CRYPTO: SOL).

The only change is that Binance restarted Solana USDT — without explanation.

Cryptocurrency exchanges Binance and OKX temporarily suspended USDC (SOL) and USDT (SOL) deposits.

There is a sharp drop in Solana (SOL) price as exchanges suspend deposits of stablecoins on the Solana network. The post SOL Price Freefalls as Crypto Exchanges Suspend USDT, USDC Transfers on Solana appeared first on BeInCrypto.

Cryptocurrency exchange Binance on Thursday temporarily suspended deposits of the stablecoins USDC (CRYPTO: USDC) and USDT (CRYPTO: USDT) on the Solana blockchain "until further notice," but resumed a few hours later. "After internal assessment and review, Binance has now resumed deposits for USDT (SOL)," the company stated in its official blog post.

Exchanges like Binance, BitMEX, and OKX are limiting deposits and withdrawals for Solana's top stablecoins, without explanation. 

On Thursday morning, the world's biggest exchange, Binance, announced that deposits of USD Coin (USDC) and Tether (USDT) on the Solana blockchain “have been temporarily suspended until further notice,” causing the SOL token to test a low of $12.45. The move comes right after OKX, another crypto exchange,  announced that it will delist USDC and The post Just-In: Binance Resumes USDT (SOL) Shortly After De-listing From Platform appeared first on CoinGape.

An overview of possible scenarios regarding Solana's future

Binance has yet to provide an explanation for the move, which has been mirrored by other major crypto exchanges.

The Solana cryptocurrency continues crashing amid the FTX crisis, plummeting 7% on the news of exchanges halting deposits in Solana-based stablecoins.

Crypto markets have entered a new period of volatility amid the collapse of FTX, the world's second-largest cryptocurrency exchange.

Binance and BitMEX have moved to halt the deposits of Solana-based USDT and USDC while OKX went as far as delisting them

The announcement from the largest crypto exchange by trading volume comes after rival OKX announced it will delist both USDC and USDT on Solana. The post Binance halts Solana-based USDC and USDT deposits, in line with rivals appeared first on The Block.

Tether, the issuer of the major stablecoin USDT, denied having exposure to either Genesis Global Capital or Gemini Earn. Some, however, wonder how it is possible for such a large company not to be affected by any of the massive events that shook the crypto space this year.

Crypto exchanges Binance and OKX announced temporary suspension of USDC (SOL) and USDT (SOL) deposits. “Deposits of USDC (SOL) and USDT (SOL) have been temporarily suspended until further notice.

The impact of the FTX collapse has been spreading significantly over the other platforms as more number of them are restricting users' activity, failing to carry out their business as usual. While some of the platforms who denied earlier have admitted to their platform's exposure to the FTX crisis.

They were slightly affected by the collapse of FTX, but have a strong foundation

Popular stablecoins are moving off exchanges, as the cryptocurrency industry continues to roil following the FTX (CRYPTO: FTT) collapse. What Happened: Over $23 billion in stablecoins have exited cryptocurrency exchanges, since March 2022, according to Santiment Insights.

Stablecoin issuer Tether (CRYPTO: USDT) said on Wednesday that it had no exposure to institutional cryptocurrency lender Genesis or the Gemini Earn program, which have halted withdrawals. What Happened: The lending division of crypto investment bank Genesis Global Trading temporarily stopped withdrawals on Wednesday, raising speculations that USDT had significant exposure to Gemini.

Genesis has stopped both debt repayments and new loan issuances, according to a statement from CEO Derar Islim today. The withdrawal requests surpassed the available liquidity at Genesis Global Capital.