Tether – Page 7 – Ƀitsell X

Stablecoin Giant Tether Strikes Gold: Achieves Record Net Profit Of $4.5 Billion In Q1

May 1, 2024

Stablecoin issuer Tether, a prominent player in the cryptocurrency market behind the widely used USDT stablecoin, has released its audit statement for the first quarter of 2024, accompanied by a report conducted by independent accounting firm BDO. The report, which provides additional financial information beyond the reserves backing Tether’s fiat-denominated stablecoins, shows the company’s profit…
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Tether Invests $200 Million in Blackrock Neurotech, Launches Evo Division

May 1, 2024

Tether, the giant behind the world’s largest stablecoin USDT, announced a $200 million strategic investment in Blackrock Neurotech, a brain-interface company. The investment also marks the launch of Evo, a new business division for the company that will examine investments in initiatives that merge tech and human potential. Tether Dabbles in Biotech, Acquires $200 Million…
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USDC Beats USDT In Transaction Volume By Over 400% – Details

April 30, 2024

The seemingly unshakeable reign of Tether (USDT) as the king of stablecoins faces a new challenger. Circle’s USD Coin (USDC) has pulled off a surprise victory, recording a higher transaction volume than Tether in April 2024, according to on-chain analytics from payments giant Visa. This development marks a significant shift in the stablecoin landscape. While…
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Tether to Freeze Addresses Evading Sanctions on Venezuelan Oil Exports

April 24, 2024

Tether, the issuer of the popular stablecoin USDT, has announced its intention to freeze addresses associated with sanctioned entities. The move comes in response to allegations that Venezuela’s state-run oil company, PDVSA, has been utilizing Tether to bypass sanctions imposed on its crude oil and fuel exports. Tether has said it is committed to complying…
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Venezuelan State Oil Company to Accelerate USDT Adoption for Settlements; Tether Vows to Uphold OFAC Sanctions

April 23, 2024

PDVSA, the state-owned Venezuelan oil company, would be preparing to migrate more of its payments portfolio to USDT, a dollar stablecoin, to avoid being affected by the restitution of U.S. sanctions. Reuters reported that the company started receiving payments in USDT last year and will accelerate its adoption. Tether, nonetheless, stated it will uphold OFAC…
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Stablecoin Market Hits $160 Billion, Reaching Heights Not Seen Since Terra’s Crash

April 22, 2024

This week, the value of the fiat-pegged cryptocurrency economy has climbed to $160 billion, a peak last observed in May 2022, shortly before Terra’s UST detached from its intended $1 parity on May 9, 2022. In the past month, various stablecoins have experienced an increase in supply, with Ethena’s USDE at the forefront, registering a…
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Tether Integrates USDT on TON Network, Targets 900 Million Telegram Users

April 22, 2024

Tether, the stablecoin company, has launched native USDT, the largest dollar-pegged stablecoin, on The Open Network (TON). With this addition, over 900 million Telegram users can seamlessly transfer digital dollars, without having to type crypto addresses. 11 million TON will be distributed among USDT users on TON to incentivize its adoption in the ecosystem. Tether…
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Telegram to Introduce USDT Payments With Telegram Wallet and the Open Network

April 20, 2024

Encrypted messaging platform Telegram and Tether have joined forces, enabling users to send USDT payments through The Open Network (TON) and the Telegram wallet, as formally announced by the companies’ founders on Friday at Token2049 in Dubai. USDT Payments On Telegram Via The Open Network and Telegram Wallet According to the official announcement, Telegram users…
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Tether Officially Reorganizes, Announces Four Different Business Divisions

April 20, 2024

Tether, one of the largest companies in the cryptocurrency industry, has announced a reorganization of its business operations, seeking to restructure to support its expansion. Tether will now have four business divisions: Tether Data, focused on tech developments; Tether Finance, dedicated to the digital assets business; Tether Power, dealing with mining operations; and Tether Edu,…
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Stablecoin Market Climbs $2.81B in a Week, Nearing $160B Valuation

April 19, 2024

Over the past seven days, the stablecoin sector has expanded by $2.81 billion, bringing the dollar-pegged cryptocurrency market close to a total valuation of $160 billion. A significant portion of this growth, exceeding $2 billion, is attributed to the increase in USDT’s market capitalization, which reached $109.38 billion by Friday at 1:00 p.m. Eastern Time.…
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