In September 2024, stablecoin liquidity hit record highs. Meanwhile, JPMorgan analysts predicted further Bitcoin gains, citing October’s historical “Uptober” trend. The FBI made headlines by charging 18 individuals involved in crypto fraud after setting up a fake crypto operation. Economist Peter Schiff warned of impending financial ruin unless the U.S. allows its “phony economy” to…
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Tron, Tether, and TRM Labs have announced the creation of the T3 Financial Crime Unit (T3 FCU), a new initiative aimed at fighting illicit activity in the cryptocurrency space. The partnership, focused on public-private collaboration, seeks to improve security within the Tron blockchain and reduce the misuse of its tether (USDT) stablecoin. Crypto Giants Tron,…
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Tether Holdings Limited reported a record-breaking net profit of $5.2 billion for the first half of 2024, according to its latest assurance opinion for the second quarter. The report, conducted by BDO, highlighted Tether’s increased exposure to U.S. Treasury bills and a significant rise in group equity. Tether Reveals Mid-Year Financials The largest stablecoin issuer…
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Bitcoin prices may have reached a local low, as suggested by researchers at cryptoquant.com. The firm’s recent institutional insights report says large sellers appear to have depleted their selling power, and key valuation metrics point to potential positive price movement. Report Notes Seller Exhaustion in Bitcoin Markets, Despite Low Stablecoin Liquidity In the past week,…
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Tether Operations Limited, the largest entity in the digital asset ecosystem, announced a strategic partnership with Oobit, a mobile payment app, and the TON Foundation on May 16. The partnership comes after Tether launched USDT and XAUt on The Open Network (TON) in April. Tether and TON Foundation Partner with Oobit to Revolutionize Crypto Payments…
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Tether is continuing to monitor and punish illicit activities. On May 14, it identified and froze USDT worth $5.2 million in an effort to enforce strict network controls and combat money laundering. The illicit funds were first flagged by blockchain tracking platform MisTrack. The frozen USDT were distributed across 12 Ethereum (ETH) wallets, flagged as…
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Tether CEO Paolo Ardoino fired back at Ripple after the company’s CEO alleged the US government is going after USDT. Ardoino didn’t directly mention Ripple or its CEO Brad Garlinghouse. But his comments likely refer to Garlinghouse’s earlier statement expressing concern that scrutiny into Tether could disrupt the cryptocurrency market. Interestingly, Ripple is planning to…
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Tether strongly criticized a Deutsche Bank report that raised concerns about the stability of stablecoins, including Tether’s dollar-pegged token, predicting a potential crisis similar to the 2022 collapse of Terrausd, which erased billions from the market. Deutsche Bank analysts, citing a study of 334 historical currency pegs, suggested that most stablecoins will face significant challenges…
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Since the introduction of USDT on the TON blockchain, the supply of this stablecoin has grown by over 70 million within just two weeks, totaling 130 million. While USDT operates across multiple blockchains, its presence on TON has positioned it as the eighth largest in terms of circulating supply. TON Blockchain Sees 70 Million Increase…
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Tether Holdings, the issuer of the world’s largest stablecoin, Tether (USDT), has reported a record net profit of $4.52 billion in the first quarter of 2024, marking a significant achievement for the company. According to the report, the substantial profit was primarily attributed to the firm’s financial gains on Bitcoin and gold, totalling $3.52 billion, and…
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