Tether

U.S. federal prosecutors have alleged that five Russian nationals laundered tens of millions of dollars in cryptocurrencies for Russian oligarchs and sanctioned entities. What Happened: The accused have been identified as Yury Orekhov, Artem Uss, Svetlana Kuzurgasheva, ...

Faced with criticism over the quality of its reserves, stablecoin issuer Tether announced Thursday that it was slashing commercial paper, or unsecured promissory notes, from its reserves. It also increased its direct exposure to U.S. Treasuries by more than $10 billion in the last quarter. Slashing...

Stablecoins are usually described as the remedy to the volatility of cryptocurrencies. However, Michael S. Barr, vice chair for Supervision for the U.S. Federal Reserve is worried they could “pose a risk to the financial stability” of the country. See Also: TOP...

The U.S. Securities and Exchange Commission (SEC) announced a $1 million fine against Tether’s (CRYPTO: USDT) former auditing firm Friedman LLP over violations of the federal securities laws. Per the SEC, the auditing firm was involved in several instances of “improper...

Stablecoin issuer Tether confirmed the launch of tokens (CRYPTO: USDT) pegged to the U.S. dollar on the NEAR protocol. The introduction of USDT on NEAR will contribute to increasing ecosystem stability and lessen the negative effects of market volatility on users. After the launch on NEAR, USDT...

Merchants who use a leading cryptocurrency company for their commerce solutions now have the option to accept several additional cryptos for payment. Here are the details. Faster Payments: Coinbase Commerce, a unit of Coinbase Global (NASDAQ: COIN) announced an update Tuesday that includes...

Stablecoins represent a class of cryptocurrencies that are meant to preserve value over time. Unlike traditional cryptocurrencies, stablecoins obtain their value from an underlying asset or algorithm. Fundamentally, stablecoins are either algorithmic or collateralized. Stablecoins that are...

Layer 1 blockchain protocol Harmony (CRYPTO: ONE) has offered a bounty of $1 million for information about a theft on the Horizon bridge amounting to around $100 million, in which tokens including Wrapped Ethereum (CRYPTO: WETH), Aave (CRYPTO: AAVE), SushiSwap (CRYPTO: SUSHI),...

Numerous cryptocurrency trading hedge funds have opened major short positions on Tether (CRYPTO: USDT). What Happened: According to CoinDesk, digital currency broker Genesis stated that following Terra’s (CRYPTO: LUNA) downfall due to UST’s (CRYPTO: UST) de-peg, numerous short positions...

Solend (CRYPTO: SLND), a decentralized finance (DeFi) lending and borrowing platform, recently highlighted the scarce decentralization most such projects face, as it tried to defuse a ticking bomb that might wreck Solana's (CRYPTO: SOL) DeFi ecosystem and its liquidity. What...

Tether (CRYPTO: USDT) is launching the pound-pegged stablecoin GBPT (CRYPTO: GBPT), following on the heels of its peso-pegged stablecoin. What Happened: The stablecoin is set to join the markets in July on the Ethereum (CRYPTO: ETH) blockchain. Tether endeavors to maintain a 1-to-1 ...

Major cryptocurrency players, including Celsius (CRYPTO: CEL), 3AC, and Tether (CRYPTO: USDT), have experienced major liquidations. What Happened: Given the sharp fall in cryptocurrency prices, lending firm Celsius posted a total of 7,206 WBTC (CRYPTO: WBTC) as collateral to reduce its liquidation...

Investors recently sold over $1.6 billion of Tether (CRYPTO: USDT), dropping its market capitalization to $70 billion. What Happened: On the heels of a cryptocurrency crash, Tether saw an outflow of $1.6 billion of funds. This capital pull-out coincided with the recent crash of Terra’s...

A new report by the Federal Trade Commission suggests that more than 46,000 people reported losing over $1 billion in payment scams involving cryptocurrencies since the start of 2021.  The top cryptocurrencies people said they used to pay scammers were Bitcoin (CRYPTO: BTC) which accounted for...

Market-wide panic ensued after Tether (CRYPTO: USDT) – the largest stablecoin by market cap – began losing its peg to the U.S. dollar. What Happened: According to data from Benzinga Pro, USDT fell to an all-time low of $0.948 across major exchanges like Coinbase Global Inc (NASDAQ...