The CEO of stablecoin issuer Tether Holdings Ltd. has announced plans to increase the company’s employee headcount to 200 by mid-2025. The firm stated that a majority of the new employees will be assigned to the compliance team, while others will join the finance team. A Finance Behemoth With a Lean Structure Stablecoin issuer Tether…
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On Friday, Ethena Labs, the creators of the stablecoin USDE, secured $14 million in funding from key investors. Following this recent influx of funds and a previous $6.5 million investment from Maelstrom, overseen by Arthur Hayes, in July 2023, the company’s post-valuation has risen to $300 million. USDE Issuer Ethena Labs Raises $14M Ethena Labs,…
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Northern Data Group has confirmed a €575 million ($610M) debt financing from Tether Group, a signal of heightened activity in the high-performance computing sector responding to the artificial intelligence (AI) demand surge. The firm detailed that the funding is poised to advance Northern Data’s cloud services and hardware capabilities, focusing on generative AI technologies. Northern…
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Tether’s reported new partnership with Britannia Bank makes it the third Bahamas-based bank to join forces with the stablecoin issuer. Tether, the stablecoin issuer behind USDT, has reportedly added Britannia Bank & Trust, a private bank based in The Bahamas to process dollar transfers on its platform. It is understood Tether has instructed clients to…
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Following the company’s announcement that it will build a sustainable Bitcoin mining operation in Uruguay, the stablecoin issuer Tether has disclosed its investment in a Salvadoran bitcoin mining operation called “Volcano Energy.” Tether Backs Volcano Energy Tether is increasing its investments in recent times, having announced a mining project in Uruguay and revealing an investment…
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After announcing its plan to invest 15% of profits into bitcoin, the company Tether Limited has taken another step toward its crypto goals. Tether, the stablecoin issuer, has revealed its latest venture: “sustainable bitcoin mining operations in Uruguay.” Tether has partnered with a licensed local company to make this happen, as it believes Uruguay is…
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BUSD’s market cap is down by nearly $14 billion from its all-time high of $23.49 billion, set on Nov. 15, 2022. Binance USD’s (BUSD) market cap has fallen below $10 billion for the first time in almost two years amid a United States regulatory crackdown on its token issuer and a planned delisting from a…
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During the first week of 2023, payment service giant Paypal said it was exploring the launch of a stablecoin. At the time, an executive at Paypal stated that if the company moved forward, it would work closely with financial regulators. However, on Feb. 10, a source noted that Paypal has put the concept on hold…
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Tether is now live on 15 different blockchain networks, according to the company’s latest announcement on Friday as the firm detailed that it is now supported by the Polkadot blockchain system. The stablecoin’s new support follows the token being added to the Near Protocol 11 days ago. The news further follows Tether being ordered by…
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On Monday, the stablecoin issuer Tether Operations Limited announced that the stablecoin tether is now supported by the Near blockchain network. Following a number of recent implementations, Near will be the 14th blockchain network that hosts the largest stablecoin by market capitalization. Tether Connects With the Near Protocol Tether has revealed that tether (USDT) is…
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