Tether has announced its plan to purchase hundreds of millions of dollars’ worth of Bitcoin to back its USDT token. The company intends to invest 15% of its net profit into Bitcoin as part of a strategy to diversify its reserves. This move comes as Tether aims to maintain a
On Wednesday, stablecoin issuer Tether said that it will begin making regular purchases of Bitcoin (BTC) for its stablecoin reserves. Thus, spending a portion of its earnings to do so. As part of a new investment strategy centered on the world’s biggest cryptocurrency by market value. Tether🧡#Bitcoin Starting this month,
BDO Italia, one of the major international networks of audit and professional services, has revealed that Bitcoin has made up around $1.5 billion of the Tether reserves, which is nearly 2% of the total at the end of Q1. Recently, the stablecoin issuer Tether released the Q1 2023 results. According
Tether Holding Limited, a stablecoin issuer, has announced that its reserves surplus has increased to $2.44 billion, a $1.48 billion up in net profit. Many digital assets had a dramatic gain in value during this time, which may be attributed to the general revival of the crypto market. Tether's Latest
Stablecoins have emerged from obscurity to become one of the most important digital asset sectors in the space. The stablecoin market now accounts for over 10% of crypto’s total valuation, with a market cap exceeding $130B. With over 100 stablecoins listed on Coinmarketcap alone, deciding where to allocate capital is
KuCoin, the crypto exchange’s official Twitter account, was compromised for 45 minutes starting at 00.00 UTC+2 timezone. As per the tweet from KuCoin, the Twitter hack was performed by posting “fake activity”, which caused a number of crypto users to lose their assets. 1/ The @kucoincom handle was compromised for
The crypto market’s leading stablecoin provider, Tether (USDT), reached a market capitalization of around $81.5 billion on Thursday. It is the highest point of its market capitalization since Terra’s collapse in May 2022. USDT is just $2 billion behind to surpass its all-time high of $83.4 billion, which it reached
Q1 2023 goes down as the period that recorded significant recoveries in the cryptocurrency market. Bitcoin, Ethereum, and other altcoins displayed astounding rallies amid bank runs and Fed’s regulatory crackdown. Out of them all, stablecoins captured the major attention. The USDC brief depegging, due to Silicon Valley Bank (SVB) collapse,
Santiment, the crypto-analyzing firm, tweeted that many Altcoins have experienced several transactions recently. Some are the biggest transaction of the year for the respective networks. 🐳 #Altcoins have lit up with several transactions among the biggest of the year for their respective networks. $MATIC and $FET have both seen a
On March 21 Tether minted 1 billion USDT on the Tron Network. This follows the billions of stablecoin that it has minted over the last week. In the last seven days, Tether has minted 4 billion USDT. Tether’s mintings have come as the stablecoin sector is facing increased competition, with
