Speed, the company behind the Speed Wallet, has launched USDT-L, the first iteration of Tether, the largest stablecoin on the crypto market, on top of Bitcoin’s Lightning Network (LN). The wrapped token, which takes advantage of the “taproot assets” protocol recently rolled out by Lightning Labs, seeks to bring all the benefits of LN to…
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With a 5% upswing in the crypto economy over the past day, following a broad market recovery, the stablecoin economy has ballooned by $1.53 billion in just three days. A notable $750 million of that growth occurred within the last 24 hours alone. Tether’s $1.26B Growth Fuels Stablecoin Expansion Not long ago, the crypto market…
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The largest cryptocurrency exchange by trading volume, Binance, is set to introduce toncoin (TON) trading pairs on Aug. 8, leading to a more than 10% increase in TON’s value against the U.S. dollar. Currently, TON is trading within a range of $5.36 to $6.41 over the past day, making it the eighth largest crypto asset…
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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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The stablecoin economy is experiencing renewed growth. Over the past week, the market capitalization of all stablecoins increased by $1.52 billion. The growth over the past seven days was primarily driven by tether (USDT), the largest stablecoin by market valuation, with its supply expanding by 1.2 billion coins. Stablecoin Economy Sees Growth Again Over the…
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While the stablecoin economy experienced tepid growth in June, it expanded by $344.15 million over the past seven days. Paypal’s PYUSD, currently the eighth largest stablecoin by market capitalization, led the growth over the past 30 days, increasing 41.2% to reach $585.25 million. Stablecoin Economy Grows as Bitcoin and Ethereum Prices Rise Bitcoin and ethereum…
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Amidst a legal challenge, Tether, the USDT stablecoin issuer, has made a strategic appointment. The Chief Economist of crypto surveillance company Chainalysis, Philip Gradwell, has been brought on board as Tether’s Head of Economics. This move comes at a time when Tether and its sister crypto exchange Bitfinex are facing a class action lawsuit. The…
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On Monday, Northern Data AG said it has resolved to increase its share capital by 20%, planning to raise €214 million ($233 million) through the issuance of new shares. The company aims to enhance its cloud platform and expand its data centers in Europe and the United States. Bitcoin Miner Northern Data AG Reveals Capital…
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Current market data indicates that bitcoin has increased by 48% against the U.S. dollar since Jan. 1, 2024. This implies that on that date, one tether (USDT) was exchanged for 0.00002368 BTC, whereas today, it’s valued at just 0.00001596 BTC. Concurrently, in addition to bitcoin’s rise against the dollar, its competitors like ETH, SOL, and…
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The largest stablecoin issuer, Tether, has announced a collaboration with Uquid, a Web3 e-commerce platform. This partnership enables residents of the Philippines to pay their Social Security System (SSS) contributions using the stablecoin issued on The Open Network (TON). Additionally, Uquid has released a detailed guide for citizens on how to use USDT-TON to pay…
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