According to sources, Neobank Revolut is planning to launch a stablecoin, which it has been developing for some time. It would join Ripple and PayPal as the latest entrants in the stablecoin business as more compliant companies seek to replace the rogue USDT. Yet another major global firm is joining the stablecoin bandwagon as the…
BNB Chain has announced new developments aimed at becoming the core infrastructure for stablecoin payments and digital financial transactions. This initiative focuses on gasless transactions across centralized exchanges, wallets, and bridges, making stablecoin payments faster, cheaper, and more accessible. Gas-free transfers for USDT, USDC, and FDUSD will be supported. Key partnerships with exchanges like Binance,…
In a massive moment for the stablecoin, Tether has seen its USDT offering reach a market cap of $118 billion. Moreover, the Tether-issued token has already dominated 75% of the entire stablecoin market share. The distinction follows two years of increasing value for the asset’s market cap. In the past two years, USDT’s share of…
The TON Foundation and Curve Finance have announced a new collaboration to incubate a stable swap project on the TON blockchain, according to a Sept. 17 statement shared with CryptoSlate. This collaboration aims to make stablecoin trading more efficient and user-friendly on the TON network. Both organizations will select an independent team to spearhead the…
Tether’s USDT, the number one stablecoin by market cap, is growing as part of the TON ecosystem. According to the TON team, the stablecoin reached a milestone recently, registering authorized issuance numbers exceeding $1 billion. However, TON clarified that only $720.6 million was in circulation, while $309.3 million were authorized but unissued. Nonetheless, this marks…
Tether’s USDT stablecoin now holds more than 75% of the stablecoin market, a considerable increase from 55% in 2022. This increase is attributed to the growing demand for USDT as a reliable middleman between fiat currencies and digital assets. With a circulating supply of $118 billion, USDT has witnessed consistent adoption throughout crypto marketplaces, bolstered…
The Toncoin (TON)-based USDT stablecoin has seen impressive growth since it integrated into the protocol. According to Tether’s official transparency page, the authorized issuance of USDT on the TON chain has surpassed $1 billion and is currently as high as $1,030,000,002. Of this figure, the authorized unissued amount is valued at approximately $309,325,516.46, while the…
TRON DAO, the decentralized organization behind the TRON blockchain, announced that the newly formed T3 Financial Crime Unit (T3 FCU) task force has already frozen over $12 million in USDT linked to illicit activities. In a Sept. 16 post on X, TRON DAO stated: “While others didn’t act, the T3 Financial Crime Unit, in collaboration…
The High Court of Justice in England has classified Tether’s stablecoin, USDT, as property, representing a crucial development for both institutional and retail investors. Crypto pundit GS posits that this verdict may facilitate increased adoption of USDT by establishing a clearer regulatory framework, thus diminishing regulatory ambiguity and enhancing its attractiveness to investors pursuing stability…
A High Court of England and Wales has ruled that stablecoin tether (USDT) is recognized as property under English law. The court clarified that cryptocurrencies, despite not being physical assets, can be treated similarly to tangible and intangible property in legal disputes. UK Court Recognizes USDT as Legal Property The High Court of Justice, Business…
Tether, has been accused of operating without much transparency touching on the $118 billion reserves. Cyber Capital Founder Justin Bons said that it is a bigger scam than FTX and Bernie Madoff. He highlighted the absence of independent audits that would prove the existence of the company’s reserves. Critics claim it holds USDT without proof,…
Tether, Circle, Paxos, and Techteryx, four of the leading stablecoin issuers, have identified and frozen wallets associated with the Lazarus group, a North Korean hacking group. These wallets containing millions of cryptocurrencies are believed to be involved in laundering of funds from various cryptocurrency thefts. The multiple cyber crime incidents orchestrated by the Lazarus Group…
Over the past week, the stablecoin market has expanded by $1.39 billion. Once again, tether (USDT) took the lead, with its supply increasing by 610 million USDT during the last seven days. Stablecoin Market Continues to Climb Though the pace has slowed, the stablecoin market keeps inching upward every week. On Sept. 7, the fiat-backed…
Blockchain investigator ZachXBT has accused USDC issuer Circle of benefiting from transactions tied to the North Korean hacking group Lazarus. The claims are serious, as Circle took 4.5 months to ban assets related to the Lazarus Group, compared to other major stablecoin issuers. ZachXBT also chastised Circle for failing to take measures to prevent the…
Tether is working to improve its relations with regulators following the recognition of its USDT stablecoin as property in the UK. On Sept. 13, Tether announced that it hired Jesse Spiro to spearhead its global engagement efforts with lawmakers, regulators, and key stakeholders. Strengthening government relationship According to the statement, Spiro’s extensive background in the…
The Nigerian government has filed criminal charges against four individuals and several firms for allegedly conducting illegal crypto transactions, including USDT to naira conversions, without a banking license. The four are Ejiogu A. Chinedu, Nnamdi F. Okereke, Oty Ugochukwu Stanley, and Chukwuebuka F. Ogumba. The defendants are accused of violating the Banks and Other Financial…
Following the surge in popularity of blockchain-based currencies globally, stablecoin, NFTs, and ETFs evolved as the most significant byproducts. In the broader cryptocurrency market, Tether (USDT), a stablecoin is one of the highest traded crypto in the market. According to the recent report of Chianalysis, the total payments in stablecoin in Q2, 2024 in Singapore…
The Washington State financial regulator has issued a warning about potential cryptocurrency fraud involving a mining platform and wallet. A Washington investor was scammed out of over $750,000 after investing. Despite the investment supposedly growing to $1.4 million, the investor faced continuous demands for taxes and fees. Washington Investor Scammed Over $750,000 in Crypto Mining…
September 11, 2024 at 04:55 AM GST updated: September 11, 2024 at 02:51 AM 3 mins read News USDT reserves on exchanges surged sharply since August 2024, signaling potential future market moves. Stablecoin shift: USDT’s dominance rises as USDC and BUSD reserves decline, reflecting changing user preferences. Increased USDT holdings suggest investors may be preparing…
The T3 Financial Crime Unit (T3 FCU) combines TRM Labs’ anti-financial crime expertise with Tron’s technology and Tether’s investigative capabilities. Ahead of its official launch, the T3 FCU successfully collaborated with law enforcement to freeze over $12 million in USDT linked to criminal activities. In the latest development, USDT stablecoin issuer Tether announced its partnership…
September 11, 2024 at 02:30 AM GST updated: September 11, 2024 at 01:02 AM 2 mins read News Tether, TRON, and TRM Labs join forces in T3 FCU to combat $12M in USDT-linked fraud on the TRON blockchain. T3 FCU freezes over $12M USDT linked to fraud, boosting TRON network security against illicit activities. Over…
Tether is teaming up with TRM Labs and TRON to form a “T3 Financial Crime Unit” to combat the illicit use of its USDT stablecoin on the TRON blockchain, according to a Sept. 10 statement shared with CryptoSlate. Over the past year, global authorities have raised alarms about the illegal use of USDT on TRON….
Tether, TRON, and TRM Labs have established the T3 Financial Crime Unit (T3 FCU) to tackle illicit activities related to USDT on the TRON blockchain. The T3 FCU has successfully facilitated the freezing of over $12 million in USDT funds linked to illicit activities. As crypto scams increase in 2024, TRON, the decentralized blockchain platform,…
In the past few years, bad actors, scammers, and fraudsters have bothered the crypto market on its verge. Over 1000+ users and investors have lost over a billion digital assets in the past few quarters. A recent Forbes article noted that Tether, Tron, and TRM Labs joined hands to tackle the surging illicit activities tied…
Tether, the USDT stablecoin issuer, has allocated $100 million to Adecoagro, an agricultural enterprise, signifying a strategic initiative to broaden its portfolio outside digital finance. The investment, executed between July 29 and August 16, 2024, entailed Tether acquiring approximately 10 million shares with the company’s working resources. Adecoagro, with a valuation of $1 billion, is…
Tether Holdings Ltd, the blockchain technology company that issues the USDT stablecoin, has diversified its investment again. In its latest move, Tether entered the agricultural industry through Latin America’s Adecoagro. Tether and Adecoagro – The New Bond Adecoagro confirmed the investment in a filing with the United States Securities and Exchange Commission (SEC). Per the…
In the past 15 days, the stablecoin economy experienced modest yet steady expansion, adding $1.08 billion to its overall value. During this time, tether’s market capitalization increased by 790 million. Modest $1.08B Growth in Stablecoin Market Since Aug. 23 Growth in the stablecoin economy has slowed, though it continues to expand, as highlighted by recent…
Ripple’s RLUSD stablecoin aims to compete in the growing market, where USDT and USDC dominate and will complement Ripple’s native XRP token. Brad Garlinghouse expressed disinterest in a U.S. IPO for Ripple due to regulatory challenges, criticizing the SEC’s inconsistent stance on crypto regulations. While speaking at the Korea Blockchain Week in Seoul on Wednesday,…
September 3, 2024 at 01:20 PM GST updated: September 3, 2024 at 12:16 PM 2 mins read News TON blockchain surpassed one billion transactions, with half occurring in the past three months, showing rapid network growth. New projects like Notcoin and USDT integration have driven increased activity and engagement on the TON network. Recent outages…
Circle’s USD Coin (USDC) stablecoin has crossed the $16 trillion mark in total cumulative volume. While this number falls short of traditional financial powerhouses like Visa, which processed over $12 trillion in payments just last year, it highlights the remarkable growth of stablecoins. Despite their relatively short existence, stablecoins have quickly established themselves as key…
The Washington State Department of Financial Institutions (DFI) issued a consumer alert on Tuesday, stating that it has received a complaint regarding possible fraudulent activities by a cryptocurrency trading platform named BIB. An investor reported that after transferring 20,000 USDT to BIB following advice from individuals named Austin Johnson and Cindy Turner, he was unable…
Your guide: How to Buy USDT with Google Pay? As the digital world changes all the time, being able to easily and safely buy cryptocurrency has become very important to many people and companies. Tether (USDT), a famous cryptocurrency, has gained a lot of attention because it is stable and widely used. Due to the…
August 24, 2024 at 09:17 PM GST updated: August 24, 2024 at 07:58 PM 2 mins read News Tether’s strong ties with law enforcement led to the recovery of millions in USDT, curbing crypto crime globally. Tether’s market cap surged by $820M, showing its growing role in securing digital assets and battling crypto fraud. Pig-butchering…
News Tether has assisted in recovering $108.8M in illicit USDT. Recent collaborations include freezing $225M with the DOJ and $873K with Israel. Tether has actively collaborated with law enforcement agencies globally since its inception in 2014 to combat illegal activities involving its stablecoin, USDT. The company has played a significant role in helping 145 law…
Tether, the issuer of USDT, aims to develop a stablecoin solely backed by the currency of the United Emirates. According to the information, Tether officially launched its stablecoin USDT on the Aptos Network. On August 11, Tether and Xion Global joined hands to advance blockchain education in South Africa. The surged popularity of blockchain-based currencies…
Tron (TRX) has grabbed headlines with its recent price surge. Meanwhile, Tether’s $1 billion USDT mint on its network has sparked discussions about market swings, security issues, and the future of stablecoins. It’s a big deal in the crypto world, and here’s why. Also Read: Shiba Inu’s Price If It Reaches Tesla’s Market Cap TRX…
Bitcoin has made a recovery back towards the $61,000 level during the past day. Here are the factors that could be behind this surge. Bitcoin Has Made Some Recovery During The Last 24 Hours After showing lackluster price action under $60,000 during the past few days, Bitcoin has finally shown some momentum in the last…
Tether, the issuer of USDT, the largest dollar-pegged stablecoin in the crypto market, has announced the launch of its star product on Aptos, a scalable and rapid blockchain. Tether seeks to offer rails with “extremely low gas fees” for USDT users, opening opportunities for the development of new use cases such as microtransactions and large-scale…
Tether has integrated with Aptos blockchain, allowing users to transact with USDT at a lower cost compared to more expensive networks like Ethereum. Aptos, co-founded by former Meta engineers Mo Shaikh and Avery Ching, aims to offer a scalable, efficient, and user-friendly infrastructure for decentralized applications and smart contracts. USDT’s supply has primarily grown in…
The Bank of Ghana has released draft regulations aimed at creating a framework for the cryptocurrency industry. The rules are designed to protect consumers, prevent financial crimes, and encourage financial inclusion. Virtual asset service providers (VASPs) will be required to register and meet strict standards, while commercial banks are prohibited from dealing directly with virtual…
Tether said it is expanding its USDT stablecoin to the layer-1 blockchain network Aptos, according to an Aug. 19 statement. This move furthers USDT presence across various blockchain networks, including Ethereum, Tron, Avalanche, Celo, and Solana. However, most of Tether’s $116 billion supply remains concentrated on TRON and Ethereum, accounting for 88% of the total…
Justin Sun, founder of the Tron blockchain ecosystem, clarified the reasons behind his drive to bring meme coins to the Tron network. According to Sun, the Tron blockchain has the upper hand compared to other chains, being home to $60 billion USDT. “No other blockchain protocol’s got a liquidity pool this massive,” Sun stressed, explaining…
A half dozen Malaysians were charged with kidnapping a Chinese resident for $1 Million in USDT. The Malaysian group kidnapped a Chinese resident on July 11, 2024, near the exit point of an expressway, according to the filed charges. Scammers are leveraging AI to loot innocent investors in the crypto space, as per a recent…
Tether CEO Paolo Ardoino predicted that brain-computer interfaces (BCIs) could become mainstream consumer products within the next 20 years. Ardoino’s remarks followed a breakthrough by Blackrock Neurotech, a portfolio company of Tether. The firm successfully restored speech in a patient who had nearly lost the ability to communicate via its brain implant BCI On Aug….