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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 … Read more
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 … Read more
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 … Read more
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, … Read more
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. … Read more
Tether is preparing the release of an in-house developed tokenization solution. Paolo Ardoino, CEO of Tether, announced on social media that the company is on the verge of releasing a white-label, multichain tokenization platform available for everyone. Ardoino explained that this platform would allow tokenizing bonds, stock, funds, or reward points. Tether Announces Release of … Read more
In the last 12 days of April, the stablecoin sector expanded by $4.46 billion, reaching a current valuation of $155.86 billion. Additionally, the top five dollar-pegged cryptocurrencies experienced an increase in their supplies over the last 30 days. Top Dollar-Pegged Cryptos See Growth Amid April’s First 12 Days As of Friday, April 12, 2024, the … Read more
Teddy Fusaro, president of Bitwise, one of the crypto index fund managers, has praised the business model of Tether, the company behind the largest stablecoin in the crypto market. Fusaro emphasized that Tether obtained net income numbers close to the ones of traditional institutions such as Goldman Sachs and Morgan Stanley in 2023, with a … Read more
Celo, a low-fee, usability-focused blockchain, has approved using Tether’s USDT, a dollar-pegged stablecoin, to pay transaction fees. The passed governance proposal stated this functionality would simplify the transaction experience for users, who only need to hold the USDT stablecoin in their wallets to move value using Celo’s network. Celo Passes Governance Proposal Enabling USDT as … Read more
Onchain data reveals the stablecoin giant Tether has once again bolstered its bitcoin reserves, making an addition of 8,888.88 bitcoins to its wallet as of March 31. Tether’s Bech32 address now ranks as the seventh-largest holder of bitcoin by volume. Tether’s Latest Acquisition Puts Stash at 75,354 Bitcoin Though Tether has not officially confirmed its … Read more