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Stablecoins haven't been exempt from suffering losses during the ongoing cryptocurrency market crash, but its major assets are still persevering, with Tether (USDT) not only ranking third among all cryptos but also dominating centralized exchanges by stablecoin trading volume.
In 2022, the market for dollar-pegged stablecoins is remarkably stable
The Tron founder Justin Sun has withdrawn a huge amount of liquidity from the DeFi protocol. The move is likely to have been triggered by the recent ban on addresses that received funds from Tornado cash.
Generally speaking, high-risk investments give out the highest rewards. But traders end up losing more money than gaining when entering these kinds of projects.
Bitcoin price continues to trade within a tight range, setting up possible short-term breakout for MATIC, HT, QNT and OKB.
Stablecoin issuer Tether has reduced its commercial paper holdings to zero, replacing those holdings with U.S. Treasury bills. "The Hash" discusses the latest in the world of stablecoins.
Justin Sun, founder of Tron recently took over as an advisor to the Huobi crypto exchange, has been spotted moving millions of USDT tokens. Data suggests that Sun has moved these millions of USDT, a stable to his wallet amid increasing volatile market conditions.
Tether has partnered with the city of Lugano in a move allowing McDonald's and other businesses to accept cryptocurrencies as payment. Tether co-founder William Quigley discusses the state of crypto in Switzerland and the outlook for the global stablecoin markets.
In a sign of Bitcoin's growing adoption, on Saturday (October 15), Paolo Ardoino, the CTO of Bitfinex and Tether, paid for his coffee at a McDonald's restaurant in Lugano, Switzerland with $BTC. Lugano is “a city and municipality in Switzerland, part of the Lugano District in the canton of Ticino.
In a tweet on October 13, stablecoin issuers Tether announced that it had reduced its commercial paper holdings to zero to ensure secure and liquid reserves for Tether USD (USDT). “Tether is proud to announce that we have eliminated commercial paper from our reserves,” said Tether in its tweets.
Market maker Wintermute has paid off a $96 million USDT loan, paying back DeFi lender, TrueFi, a day before the debt hit its maturity date. The post Wintermute pays off $96 million USDT TrueFi loan appeared first on The Block.
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Late in September, Tether made headlines when a judge ordered the company to reveal what is likely to be crucial documentation for any evaluation of USDT's backing with U.S. dollars. The court found that the proof was necessary to establish that Tether had a treasury that completely backs its stablecoin.
Top stablecoin issuer Tether (USDT) is completing its goal of eliminating commercial paper holdings from its reserves before the end of 2022. The firm says it has finally cut its commercial paper investments to zero from over $30 billion in September last year and is moving to diversify its portfolio.
CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, IDX Digital Assets CIO Ben McMillan discusses crypto prices amid the ongoing macro volatility.
After a Manhattan federal judge blasted Roche Freedman LLP founding partner Kyle Roche's public statements, the judge has removed the crypto boutique law firm from the market manipulation lawsuit against Tether and Bitfinex. The recent hearing has shown that U.S. district judge, Katherine Polk Failla, believes the litigation process could be derailed.
The stablecoin issuer Tether has finally eliminated its exposure to commercial papers, replacing them with much more liquid and secure US Treasury Bills.
The cryptocurrency trading platform Kucoin has announced that it is now accepting deposits of Tezos USDT (Tether). The announcement comes after Tether was recently integrated into Tezos, the largest stablecoin in the world by market cap.
Asset-backed stablecoin issuer, Tether has eliminated commercial paper from its reserves.
KuCoin, the world-leading cryptocurrency exchange, has introduced deposit services for Tezos (XTZ/USD) USDT (Tether), Invezz learned from a press release. This launch is another key milestone for the self-amending, energy-efficient blockchain. In July, Tezos integrated Tether, the biggest stablecoin by market cap. Growing usage year after year Tezos is becoming more popular year after year.
Tether, the issuer of the world's largest stablecoin USDT by market cap, announced on October 13, 2022 that it has “eliminated commercial paper from its reserves, replacing these investments with U.S. Treasury Bills (T-Bills).
Kyle Roche had earlier filed to withdraw from the case.
Tether has lowered its holdings of commercial paper to zero and replaced them with U.S. Treasury bills.
A New York Judge has ordered that law firm Roche Freedman step down as lead counsel in a class action lawsuit against USDT Issuer Tether and its sister firm Bitfinex. The lawsuit sought $1 trillion in damages for the plaintiffs over alleged market manipulation by the digital asset firm.
