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Toncoin price showed a modest 0.2% loss on Wednesday's U.S. trading session, trading at $5.2. The slight downtick forms a neutral candle in the daily chart, continuing the consolidation trend intact since early October.
Tether reached 330 million USDT on-chain wallets by the end of Q3 2024, excluding centralized platform users.
TL;DR USDT has reached a record 330 million wallets and blockchain accounts by the end of the third quarter of 2024. The growth includes the addition of 36.25 million new accounts, consolidating the stablecoin as a pillar of the crypto market.
Tether, the company behind the USDT stablecoin, has announced that approximately 330 million on-chain wallets and accounts had received the digital asset as of the end of Q3 2024. These accounts and wallets are a critical measure of user engagement.
Tether Holdings, the issuer of the widely-used stable coin USDT, is venturing into the commodities trading sector, considering lending options to firms within the industry. This strategic exploration is currently in its early stages, as Tether looks to harness the potential of cryptocurrencies to revolutionize trade finance.
Italy is preparing to increase the capital gains tax on Bitcoin and other cryptocurrencies to 42%, according to Deputy Finance Minister Maurizio Leo, who shared the news during an Oct. 16 conference. Leo explained that as cryptocurrencies, particularly Bitcoin, gain popularity, the government anticipates raising the withholding tax rate from its current 26% to 42%.
The adoption of Tether's USDT has reached over 330 million on-chain wallets by Q3 2024, showcasing its global impact as a digital asset, according to Tether.io.
Tether Holdings, the issuer of the world's largest stablecoin, USDT, is reportedly exploring lending options for commodities trading companies as it seeks new ways to deploy this year's profits amid the broader market recovery.
Binance and the Delhi Police announced on Tuesday that they have teamed up to dismantle a large-scale renewable energy scam in India, seizing over $100,000 in USDT from fraudsters linked to a fake solar company.
The Delhi Police, in collaboration with Binance, have seized over 100,000 USDT linked to a sophisticated scam in India. According to a report from The Hindu, the operation was conducted on October 15, 2024.
In a recent collaborative effort, cryptocurrency exchange Binance partnered with Indian police to dismantle a sophisticated scam involving a fraudulent entity called “M/s Goldcoat Solar.” The scam, which falsely claimed to be part of India's renewable energy initiative, led to multiple arrests and the seizure of over $100,000 in Tether (USDT).
Fraudsters impersonated government officials to scam individuals into believing they were investing in a profitable solar power program.
Binance and the Delhi Police have dismantled a $100,000 scam, which misled investors with false claims tied to India's renewable energy initiatives.
TL;DR Tether's Strategic Shift: Tether is exploring lending opportunities in the commodities trading sector, aiming to provide quicker and more flexible funding options compared to traditional financial institutions. Addressing Financing Challenges: The initiative targets smaller commodity traders who struggle to secure credit, potentially streamlining payments and trades, and providing much-needed liquidity.
Tether, the company behind the USDT stablecoin, is exploring expansion into commodities trading and traditional finance while continuing to grow its core stablecoin business.
The firm has engaged in talks with various commodity traders about providing US dollar lending options.
The CEO Paolo Ardoino stated that it is an evaluation of opportunity.
Stablecoin USDT issuer Tether Holdings is considering lending to commodities trading firms, and the explorations are “in early stages.”
Tether Holdings Ltd. is considering lending to commodity trading firms to diversify investments and utilize profits for growth in the financial sector.
Credit lines are a lifeline for smaller commodity dealers. It is difficult for smaller companies to get the capital they need to stay in operation.
The stablecoin Tether (USDT) is considering lending to international commodities traders, especially in developing markets. Tether's high profits and existing connections may create lucrative opportunities.
Bitcoin climbs 6% to $66K, breaking past the 200-day moving average and triggering $235M in liquidations. The post Bitcoin rises 6% while whales send massive USDT inflows to Binance appeared first on Crypto Briefing.
Tether Holdings, the issuer of the USDT stablecoin, is looking to expand beyond the crypto industry and explore new ventures in traditional finance (TradFi), including potentially lending to commodities trading firms, Bloomberg News reported on Oct. 14, citing CEO Paolo Ardoino.
Tether, the issuer of USDT, the world's largest stablecoin, is exploring new ways to use its massive profits. And so the company is now looking into lending to commodity traders.
