Browsing: Tether

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With a market valuation that now exceeds $91 billion, Tether (USDT) has cemented its position as the biggest stablecoin. The company’s position in the cryptocurrency market has been strengthened by its steady expansion over the past quarter. Tether’s CEO, Paolo Ardoino, provided a summary of the company’s accomplishments in 2023, emphasising their proactive involvement in the cryptocurrency market. In an effort to maintain market capitalization stability in the face of continuous regulatory scrutiny, Tether just created an extra 1 billion USDT for use in Ethereum network transactions in the future. In October and November, the company added 5 billion USDT…

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Since its establishment by iFinex Inc. in 2012, Tether has been a leader in the stablecoin market and a pillar of blockchain finance, having had a significant impact on the state of digital assets. Tether has faced criticism despite being applauded for its creativity, particularly in relation to its pegging procedure and openness. The way that Tether, a Hong Kong-based corporation, fixes its stablecoin, USDT, to the US dollar has been under constant investigation. Tether stated that it maintained a reserve of cash and cash equivalents, primarily in the form of assets like US government and corporate bonds, in order…

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The city of Lugano in Switzerland is encouraging the use of Tether and Bitcoin locally by allowing the use of cryptocurrencies to pay taxes and municipal services. The local government has started to accept cryptocurrency payments for all community expenses, including taxes, as per the official announcement made on December 5. Through the institutional-grade cryptocurrency platform, Bitcoin Suisse, Lugano residents and businesses can use Tether and Bitcoin right away for an automated payment procedure. According to the statement, cryptocurrency payments are accepted for all local invoices, regardless of the type of service or invoiced amount. Taxes and services can be…

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The market supply of Tether (USDT), the most popular stablecoin, has surpassed the 84 billion mark to set a new all-time high. At 85.42 billion, the circulating supply of USDT has increased by 22% year over year. The stablecoin’s market capitalization, which is currently $85.45 billion based on statistics, has also been influenced by the rise in supply. Circle USD (USDC), the second-biggest stablecoin, is valued at $23.98 billion on the market. Stablecoins saw growth in both active addresses and transactions between Q1 and Q3 2023 of 45% and 41%, respectively. With an average of 337,000 daily active addresses and…

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The quantity of Tether (USDT) now available on exchanges is at its highest level since March, according to crypto market statistics. Since June 13, 2023, the amount of USDT available on exchanges has increased by 40%, according to the cryptocurrency analytics portal Santiment, with a current value of $9.99 billion. This represents the stablecoin’s highest level of buying power in the past seven months, pointing to an increase in trader buying power. Around $30 billion worth of USDT is still not traded on exchanges. Santiment also noticed a recent increase in USDT’s availability on exchanges, which could be an indication…

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The industry’s turbulence will put the stability of Tether, a prominent stablecoin, to the test. Tether and other stablecoins are preferred by traders and investors looking for security during choppy markets since they maintain their stability by pegged to assets like the US dollar. Tether’s supremacy might be threatened by new stablecoin initiatives, but given its enormous market share, it seems likely that it will maintain its current position. Regulators and industry professionals are concerned about the cryptocurrency market’s volatility, but Tether’s tenacity shows the potential advantages of stablecoins. The stability of Tether in the face of continuous crypto market…

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The Wall Street Journal cited Foresight News as saying that Tether declared in December that it would lower its collateral loans to zero in its reserves to address the collateral loan controversy. Tether’s Q2 financial report, however, shows that its reserve assets now total $5.5 billion in loans, up from $5.3 billion in the prior quarter. ‘Tether received multiple short-term loan requests from long-term partnership clients in Q2 2023, and we opted to fulfill these requests,’ said Tether spokesperson Alex Welch in response to the news that the company had given fresh loans. In 2024, the loans will be forgiven.…

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Legal disputes and regulatory obstacles are nothing new in the world of cryptocurrencies. The legal battle between Ripple and the US Securities and Trade Fee (SEC) has been one of the most closely followed recent cases. As Ripple contests the SEC’s claim, concerns are raised about how this legal saga can impact several cryptocurrencies including Tether (USDT), DAI (DAI), and Everlodge (ELDG). Maintaining Stability with Tether (USDT) Tether (USDT) is well-known for its function as a stablecoin and has long been a mainstay in the cryptocurrency community. establishing a secure link between the dangerous realm of cryptocurrencies and traditional fiat…

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In a recent update, Paolo Ardoino, the Chief Technology Officer of USDT stablecoin firm Tether, took to Twitter to announce the approaching conclusion of Tether’s development venture including Bitcoin mining. Tether’s developers are close to completing painstakingly constructed JavaScript (JS) libraries in response to his tweet. These libraries are positioned to provide smooth management and interaction with mining behemoths like as Whatsminers, Antminers, and Avalon Miners. Ardoino mistook the approaching software’s distinguishing high quality, emphasising its modularity and sophisticated design. “Actually high-quality stuff, tremendous modularity, extremely polished,” declared the CTO. It’s worth noting that WhatsMiner, Antminer, and Avalon Miner are…

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