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The stablecoin operator said the reliability of its reserves is important to highlight “at a time like this.” Tether has historically had issues with transparency.
Tether co-founder William Quigley discusses the fallout from the FTX collapse and the outlook for crypto regulation with Romaine Bostick and Taylor Riggs on "Bloomberg Markets: The Close." Like this video?
Stablecoin interoperability is a necessity for blockchain projects to thrive. We delve deeper into the importance of multi-chain stablecoins in this article. The post Which Stablecoin Runs on the Most Chains? appeared first on Bitcoin Market Journal.
The world's leading exchange has abandoned the FTT/USDT trading pair on both spot and perpetual contracts.
With cryptos suffering from a catastrophic meltdown, it's time for investors to recognize the long winter ahead of us.
The accounting firm BDO Italia has performed a quarterly assurance on the Consolidated Reserves of Tether Holdings Limited and its wholly-owned subsidiaries as of 30th September 2022. According to its report, Tether Group's consolidated assets exceed its consolidated liabilities.
Here are the latest DeFi interest rates from the most established DeFi lending and savings platforms. The post This Week's DeFi Interest Rates: Best Yields for Lending and Saving appeared first on Bitcoin Market Journal.
In response to the sudden movement of funds out of FTX and FTX US wallets, Tether took a protective measure by blacklisting USDT related to the FTX wallet drainer. Almost $600 million in tokens were transferred out of wallets with stablecoins withdrawals swapped from Tether to DAI and other tokens swapped to Ethereum.
Billionaire entrepreneur Elon Musk, who recently purchased Twitter in hopes of unleashing the platform's full potential, acknowledged Twitter's contribution in tracking down the FTX developments in real time.
Tron network's native TRX token momentarily surged some 4,000% from 6 cents to $2.50 on embattled crypto exchange FTX even though they are trading for 6 cents on other prominent exchanges, such as Binance and OKX. Separately, stablecoin issuer Tether froze $46 million of USDT held on Tron by FTX following a request from law enforcement.
FTX users have been desperately trying to get their funds out, including through NFT purchases and Tether withdrawals.
As it struggles to close a purported multi-billion dollar hole in its financial sheet, cryptocurrency exchange FTX has lost at least one possible saviour. On 10 November, Tether CTO Paolo Ardoino affirmed that the company has “no plans to invest or lend money to FTX/Alameda.
Consolidated assets exceed consolidated liabilities
Major stablecoin issuer Tether froze $46.5 million of USDT held by the collapsing crypto exchange FTX, reportedly at the request of law enforcement.
Tether CTO, speaking on twitter, Affirmed that Tether will not get involved in the FTX saga while responding to SBF's efforts to acquire loans from fellow crypto firms adding to the CEO's troubles.
The price of USDT drops due to market uncertainties
FTX won't be getting a bailout from Tether who confirmed it isn't planning to provide a cash injection despite the CEO reportedly reaching out to multiple firms for help.
Due to Tether FUD, more people are shorting USDT, which has resulted in a sharp rise in the APY for USDT Borrow. The Compound USDT Borrow rate hits 38%, while the Aave USDT borrow rate reaches 12.71%.
The USDT issuer had total assets of $68.06 billion at the end of the third quarter, exceeding its total liabilities of $67.8 billion.
Following sanctions from legal authorities, stablecoin issuer Tether has confiscated around $46 million worth of USDT on the Tron blockchain network. The wallet address currently holding the stablecoins is suspected to be owned by the defunct cryptocurrency exchange FTX.
Reeve Collins, Tether co-founder, joins 'THe Exchange' to discuss FTX's failed deal with Binance, the financial vitality of Sam Bankman-Fried's assets, and the crucial differentials between forms of crypto.
USDT witnesses massive short positions against itself Number of Active addresses and number of transfers grew USDT, the number one stablecoin in terms of market cap according to CoinMarketCap, may be on the receiving end of the larger FUD surrounding the crypto market.
The largest stablecoin, Tether, increased its holdings of U.S. Treasury bills to $39.7 billion and reduced its commercial paper to around $50 million as of Sept. 30, 2022, according to a reserves attestation published on Thursday.
Today, almost all major stablecoins de-pegged from their basic currencies, here's why
