Paolo Ardoino News

Cryptocurrency giant Tether is setting up a bitcoin mining operation in Uruguay using renewable energy, as the company looks to diversify the revenue mix to support its USDT stablecoin.

Tether is launching bitcoin mining in Uruguay. 

Argentinians can now purchase dairy produce with the USDT stablecoin at the Central Market of Buenos Aires — one of the largest movers of fruits and vegetables in Latin America. The move was enabled by a partnership between the stablecoin issuer Tether and on-/off-ramp platform KriptonMarket. 

Bitcoin, the leading cryptocurrency, is facing difficulties in surpassing the significant resistance level at $27,500. 

Tether, the largest stablecoin issuer and one of the most controversial companies in crypto, announced a new investment strategy today: the company will allocate up to 15% of its reserves to buy and hold Bitcoin.

Tether International Ltd., the company behind the third-largest cryptocurrency by market value, will use 15% of its net investment profit, equivalent to $222 million of its first-quarter profit, on Bitcoin to diversify reserves backing its USDT stablecoin.

Cryptocurrency giant Tether on Wednesday said that it's going to purchase hundreds of millions of dollars' worth of bitcoin to back the world's largest stablecoin.

Tether, the issuer behind the largest stablecoin USDT, is following in the footsteps of Microstrategy in order to manage its reserves. The stablecoin issuer plans to strengthen its reserves with the help of Bitcoin and move away from United States-based government debts. 

Stablecoin operator Tether Holdings pulled over $4.5 billion out of banks in the first quarter of 2023, causing a “substantial reduction” in counterparty risk, the company reported in a post touting its latest attestation by BDO Italia. 

With the aim to further boost the crypto-friendly nation’s exposure to cryptocurrencies, El Salvador has handed its first digital asset license to Bitfinex. The latest move by the country’s regulator National Digital Asset Commission (NDAC) makes the exchange the first international digital asset platform to obtain approval under El Salvador’s Digital Assets Issuance Law. 

After a Bloomberg article alleged exposure between stablecoin provider Tether and the now-collapsed Signature Bank, rumors began to circulate regarding the involvement between the two companies. 

Tether, the firm behind the largest stablecoin by market capitalization, reportedly allowed its clients to send funds through Signature Bank’s payments platform — granting the firm access to United States banks.

Paris Blockchain Week 2023 (PBW) was buzzing with talk of innovation in blockchain technology and the future of the Web3 industry.

Cryptocurrency firm Tether, which issues the stablecoin USDT (USDT), expects to make a $700 million profit in the first quarter of 2023, matching the profits of the last quarter of 2022, Tether chief technology officer Paolo Ardoino told Cointelegraph at Paris Blockchain Week 2023.

The Chief Technical Officer of the Bitfinex crypto exchange has claimed that El Salvador’s long-awaited Bitcoin (BTC) bonds will launch this year “around June to September.” But the bonds, he explained, may not be bonds after all. Instead, the issuance could take the form of digital securities.

At the Paris Blockchain Week 2023, Tether’s chief technology officer Paolo Ardoino spoke with Cointelegraph reporter Joseph Hall to discuss topics like the USD Coin (USDC) breaking its dollar peg and how it highlights the importance of Bitcoin (BTC) and decentralization. 

Paris Blockchain Week 2023 (PBW) is about to kick off its ‍4th year as one of the world’s largest conferences tackling all things blockchain, crypto and Web3. The event hosts over 10,000 attendees and was sold out the previous year. The Cointelegraph team is stationed in Paris for the latest news from the ground.

Amid the ongoing United States banking crisis, several major cryptocurrency firms have denied exposure to dissolved U.S. banks like Silicon Valley Bank (SVB).

Circle has $3.3 billion of its $40 billion of USD Coin reserves at the collapsed lender Silicon Valley Bank, the company said in a tweet on Friday. The stablecoin company's announcement comes after startup-focused SVB collapsed on Friday in the largest bank failure since the 2008 financial crisis, roiling global markets and stranding billions of dollars belonging to companies and investors. Traders have been on guard this week for signs of contagion in the financial sector and beyond from troubles for SVB and crypto-focused Silvergate, which this week disclosed plans to wind down operations and voluntarily liquidate. Boston-based Circle said last week it had moved a «small percentage» of USDC reserve deposits held at Silvergate to its other banking partners.

The company behind stablecoin Tether (USDT) has rebuffed a report by The Wall Street Journal claiming it had ties to entities that faked documents and used shell companies to maintain access to the banking system.

Business intelligence firm MicroStrategy and stablecoin issuer Tether have become the latest two firms to publicly deny any meaningful exposure to Silvergate Bank.