On November 23rd, in response to higher trading activity in the cryptocurrency markets, especially when Bitcoin’s price approached $100,000, stablecoin issuer Tether added $3 billion in USDT tokens to the Ethereum and Tron networks. According to data compiled by Arkham Intelligence, two billion USDT were created in a single transaction
Arkham Intelligence, a onchain analytics business, said that Tether minted $1 billion worth of USDT stablecoins on the Tron network without paying any fees for the massive transaction. A transaction from a Tron “black hole address” to Tether’s multisignature wallet starting with the characters “TBPxh” was identified on November 14
Allegedly, the USDT stablecoin issuer is the subject of an investigation by the US Department of Justice (DOJ) investigating possible breaches of anti-money laundering regulations. This is happening shortly after Tether CEO Paolo Ardoino demanded consistent crypto rules across the nation. A US government investigation into Tether into potential sanctions
In its pursuit of methods to use its substantial earnings, Tether Holdings Ltd., the corporation responsible for the USDT stablecoin, is contemplating financing to commodities traders. The corporation has reportedly approached many commodities businesses about US-dollar lending, according to sources familiar with the situation. A market that has relied on
On its 10th anniversary, stablecoin issuer Tether announced that a documentary on USDT and its role in combating inflation would be released. Interviews with Tether users who have used the stablecoin to fight inflation were included in the trailer. High inflation rates were shown in the trailer via conversations with
The UK High Court has officially classified Tether (USDT) as a form of property under English law. This ruling, delivered on September 12, 2024, is the first of its kind in the UK to follow a full trial. The case involved a fraud victim who sought to recover stolen USDT
Web3 and cryptocurrency consider transparency their cornerstone and crucial for the decentralization motto. Additionally, within the sector, every firm aims to provide a transparent environment to its users and investors alike. Recently, leading stablecoin issuer and cryptocurrency institution, Tether has encountered a crossroads receiving accusations regarding its transparency. Notably, the
As crypto scams increase in 2024, TRON, the decentralized blockchain platform, Tether, the issuer of the USDT stablecoin, and TRM Labs, a leading blockchain intelligence firm, have teamed up to launch the T3 Financial Crime Unit (T3 FCU). This new partnership is all about cracking down on illegal activities related
Eleven months of steady growth led to the market capitalization of stablecoins reaching an all-time high of $168 billion. The market’s sharp decline to $135 billion by the end of 2022 set the stage for a strong recovery. Reportedly, DefiLlama data reveals that the overall market capitalization of stablecoins has
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 enforcement agencies recover more than $108.8 million in USDT. This amount was tied to various illicit activities.
