Tether, Circle and other stablecoin firms held $80 billion worth of short-term U.S. government debt as of May 2022, more than owned by Warren Buffett’s Berkshire Hathaway. Stablecoin issuers like Tether (USDT) and Circle have accumulated a significant share in the United States Treasury market, outperforming major traditional finance players. Various stablecoin providers collectively held…
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USDC tokens held by the largest addresses have dropped to a two-year low as Circle freezes Tornado Cash-related assets. The percentage of USD Circle (USDC) stablecoins held by major wallet addresses dropped to its lowest point in almost two years as the cryptocurrency market downturn continues. Cryptocurrency analytics firm Glassnode has released the latest data…
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This week, the stablecoin issuer Tether Holdings Limited revealed an update to its assurance and attestation process and detailed that the company has been working with accounting firm BDO Italia. The accounting firm will conduct monthly tether assurance reports based on the stablecoin issuer’s reserves. The following day, Tether published its quarterly assurance opinion completed…
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TORN is near a historically strong support range, eyeing a 75% rebound by September 2022. Tornado Cash (TORN) has lost almost half its market valuation two days after being slapped with sanctions by the U.S. Treasury Department. The department accused Tornado Cash, a crypto mixer platform, of laundering more than $7 billion in cryptocurrencies, including…
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”We believe that a smooth transition is essential for the long-term health of the DeFi ecosystem and its platforms, including those using our tokens,” Tether stated. Hot on the heels of an official announcement from USD Coin (USDC) issuer Circle Pay, stablecoin giant Tether has now also officially confirmed its support behind Ethereum’s upcoming Merge…
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On August 8, the ethereum mixing service Tornado Cash, and all the crypto addresses associated with the platform, were officially banned by the U.S. Treasury Department’s Office of Foreign Asset Control (OFAC). Following the ban, the internet hosting service for software and open source code development, Github, erased some of the Tornado Cash commits and…
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Stablecoin issuers can blacklist interactions with the Tornado Cash DApp on the Ethereum smart contract level. Crypto data aggregator Dune Analytics said that, on Monday, Circle, the issuer of the USD Coin (USDC) stablecoin, froze over 75,000 USDC worth of funds linked to the 44 Tornado Cash addresses sanctioned by the U.S. Office of Foreign…
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On August 2, the Atlanta-based crypto payment services provider Bitpay announced that it has expanded its crypto asset support with two different crypto assets. Bitpay revealed the company has integrated apecoin and euro coin into the firm’s platform and the luxury retailer and designer Gucci has announced it will be the first merchant to accept…
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The Tether printers have been fired up again as the USDT circulating supply has started to tick up. The world’s largest stablecoin, Tether (USDT) has expanded its circulating supply following almost three months of reductions, in what could be a sign the crypto markets are slowly recovering. The first mint in almost three months occurred…
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