21 / 23 Relevant items tagged with #tether

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Stablecoin Supply Plummets After Depegging Event: $7.4B Dollar-Pegged Tokens Withdrawn From Circulation

[Mar 17, 2023 12:30 PM] During the past 11 days, over 7 billion USDC stablecoins have been withdrawn from circulation, with most of the redemptions occurring following the depegging event of USDC on March 11, 2023. Furthermore, since March 6, a total of 439.48 million…

Tether: How Its $2 Billion USDT Minting Impacts Ethereum’s Success In The Bull Market

[Mar 15, 2023 1:28 PM] Despite recent negative developments in the crypto market, the sentiment seemed to be somehow bullish as Tether, its stablecoin and some major cryptos show resilience in the past couple of days. The collapse of major banks has significantly…

SVB crisis: Here are the crypto firms denied exposure to troubled US banks

[Mar 14, 2023 5:45 AM] Some of the biggest firms in crypto have denied exposure to any of the failed banks in the United States.

Stablecoin Trading Dominates Monday’s Crypto Market, Tether and BUSD Sell at Premiums

[Mar 13, 2023 1:30 PM] On Monday, the crypto economy experienced significant market activity with $183.85 billion in global trade volume over 24 hours, with a large portion of those trades involving stablecoins. USDC traded near parity with the U.S. dollar, and several…

Coinbase, Celsius and Paxos disclose funds in Signature Bank

[Mar 12, 2023 11:34 PM] The crypto-friendly Signature Bank was a key partner for many crypto firms, some which have been voluntarily disclosing their exposure to the recently closed firm.

USDC Dominated Trading Volume on Decentralized Exchanges Amidst Depegging Incident

[Mar 12, 2023 8:30 AM] On Saturday, several centralized crypto trading platforms and payment processors stopped USDC auto conversions. However, USDC experienced a significant trading volume on decentralized exchange (dex) platforms such as Uniswap, Curve, and…

USDC Stablecoin Depegging Causes Concern Among Crypto Advocates, 5 Other Stablecoins Slip Below Parity

[Mar 11, 2023 10:30 AM] On Saturday, March 11, 2023, crypto advocates are concerned as a few stablecoin assets have depegged from their $1 parity. The second-largest stablecoin USDC, issued by Circle Financial, fell below $0.90, reaching a low of $0.877 per coin…

Circle’s USDC instability causes domino effect on DAI, USDD stablecoins

[Mar 11, 2023 4:44 AM] Following USDC’s depegging, three stablecoins — DAI, USDD and FRAX — also depegged from the U.S. dollar.

USDC investor shells out $2M to receive $0.05 USDT trying to evade crash

[Mar 11, 2023 1:42 AM] While the crypto market responded with a massive sell-off, not all USDC investors were lucky enough to walk away with their funds amid the uncertainty.

​​Stablecoins and Ether are ‘going to be commodities,’ reaffirms CFTC chair

[Mar 8, 2023 9:37 PM] In the tug-of-war between the US regulators over control of crypto assets, the CFTC chair has triple-downed his stance — that Ether and stablecoins are commodities.

Key Bitcoin price metrics point to BTC downside below $22.5K

[Mar 7, 2023 1:33 PM] BTC’s $1,420 decline in the span of 1-hour negatively impacted demand for stablecoins in Asia and it shifted futures traders into a more defensive attitude.

Redemption and Reshuffling: BUSD’s Exit From Top 10 Cryptocurrencies Shakes Market Valuations

[Mar 6, 2023 8:30 AM] It has been 21 days since Paxos revealed that it would no longer mint the stablecoin BUSD. Since then, over 7 billion BUSD stablecoins have been redeemed. Prior to the announcement, BUSD was once a top-ten crypto asset. However, the top ten…

Brazilian Tax Authority Numbers Reveal Cryptocurrency Market Recovery in January

[Mar 6, 2023 12:30 AM] Numbers from the Brazilian tax authority indicate that the cryptocurrency market experienced a resurgence in January, with trading increasing more than 10% compared to December. Tether’s usdt is still the currency that moves the most volume…

Tether strikes at WSJ over ‘stale allegations’ of faked documents for bank accounts

[Mar 5, 2023 9:45 PM] Tether has hit back at a Wall Street Journal report detailing alleged shady dealings by it and Bitfinex to open bank accounts.

Binance USD market cap falls below $10B amid rising regulatory concerns

[Mar 2, 2023 11:34 PM] As it stands today, BUSD's market cap has fallen by nearly $14 billion since its all-time high of $23.49 billion on Nov. 15, 2022.

Crypto Economy Swelled 80,466% Since 2013, Despite $1.5 Trillion Loss in 2022 Downturn

[Mar 1, 2023 9:00 AM] Nine years and nine months ago, on May 9, 2013, coinmarketcap.com recorded 14 cryptocurrency assets, and bitcoin’s overall valuation was $1.24 billion, with 11.13 million bitcoins in circulation at the time. Today, the same website indicates…

Reports Indicate USDT Is Being Used in Venezuela to Facilitate Settlements and to Avoid Sanctions

[Feb 27, 2023 3:00 AM] Some companies in Venezuela are using the stablecoin tether as a way of sidestepping sanctions and settling payments with foreign customers and providers. Local reports indicate that, while the most popular use case for the stablecoin involves its…

Crypto Exchanges Allow Russians to Circumvent Sanctions, Report Alleges

[Feb 25, 2023 11:00 PM] Major crypto exchanges have failed to prevent sanctioned Russian banks and traders from transacting, according to a blockchain forensics report. At least two established coin trading platforms continue to allow Russians to use their bank cards in…

BUSD Stablecoin Drops from Top 10 Crypto Assets Amid Significant Decrease in Dominance

[Feb 25, 2023 1:00 PM] After Paxos announced that it would no longer mint the stablecoin BUSD, 4.98 billion BUSD stablecoins have been removed from circulation to date. The Paxos-managed stablecoin has also fallen out of the top ten crypto assets by market…

Nearly 3 Billion BUSD Stablecoins Have Been Removed From the Market in 6 Days

[Feb 19, 2023 5:30 PM] Six days ago, a few hours before the blockchain infrastructure platform Paxos announced it would no longer mint BUSD stablecoins, $2.86 billion worth of BUSD were redeemed. Currently, Binance is the most active exchange trading BUSD tokens, and the…

FTX Warns Community of Phony ‘Debt Tokens’ and Scams Claiming to Be Affiliated With the Bankrupt Exchange

[Feb 19, 2023 1:30 PM] On Friday, debtors who control the official FTX Twitter account warned the community to “be on alert for scams from entities claiming to be affiliated with FTX.” They also noted that neither FTX debtors nor any entity related to the…

Report Reveals Limited Accounting Records, Commingled Funds at FTX Digital Markets in the Bahamas

[Feb 17, 2023 2:30 AM] PWC, one of the ‘Big Four’ auditors and among the largest professional services networks globally, recently published a report on FTX Digital Markets, the bankrupt crypto exchange’s Bahamian subsidiary. The report indicates that the…

BIS-funded regulator to probe DeFi entry points like stablecoins

[Feb 16, 2023 5:49 AM] Despite providing many novel services, DeFi does not differ substantially from traditional finance in its functions, the Financial Stability Board stated.

Tether market cap nears $70B as SEC crypto crackdown hurts stablecoin rivals

[Feb 16, 2023 4:10 AM] Tether’s USDT has seen its market capitalization rebound to nearly $70 billion as the SEC ordered Paxos to stop issuing BUSD, the third-largest stablecoin.

Stablecoin Market Sees Supply Increase for Tether as Competitors Decline in Light of Recent Regulatory Developments

[Feb 14, 2023 8:00 AM] While the stablecoin market has seen significant redemptions in the past three months, the supply of tether, the largest stablecoin by market capitalization, has increased by 2.46 billion since mid-November 2022. Tether is the only one of the top…

BUSD Redemptions Soar Near $290 Million in 8 Hours After NYDFS Consumer Alert

[Feb 13, 2023 3:30 PM] Before Paxos published a press release at 6 a.m. Eastern time Monday, the stablecoin BUSD had approximately 16.16 billion tokens in circulation. In the past eight hours, nearly $290 million has been redeemed, bringing the number of BUSD in…

Tether taps Cantor Fitzgerald to help oversee bond portfolio: Report

[Feb 10, 2023 3:15 PM] The USDT issuer has made inroads into the traditional finance and accounting sectors as it attempts to increase transparency around its holdings.

Stablecoin Market in Flux: More Than $2 Billion in USDC Redemptions in 30 Days

[Feb 10, 2023 9:00 AM] It appears that the circulation of the stablecoin usd coin has decreased while tether’s has grown, as the latest statistics paint a contrasting picture. Tether saw a 3% increase in coins in circulation over the last month, while the U.S…

Tether assets exceed liabilities in new reserves report by BDO

[Feb 9, 2023 5:49 AM] As of Dec. 31, 2022, Tether’s consolidated assets amounted to at least $67 billion, exceeding consolidated liabilities by at least $960 million.

Only 4 people controlled Tether Holdings as of 2018: Report

[Feb 2, 2023 4:03 PM] New York Attorney General and Commodity Futures Trading Commission probes into Tether in 2021 exposed its previously unknown ownership structure.