Tether Financial News

Tether has reaffirmed its commitment to transparency and announced its completion of reporting obligations to the New York Attorney General's Office. Under the terms of its 2021 settlement, Tether fulfilled its quarterly reporting requirements for a period of two years. There have been no indications of incomplete disclosures or inadequate reserves during this time, cementing Tether's position as a reliable stablecoin. Furthermore, Tether proudly boasts its largest market cap in history, highlighting its strengthened position within the market.

The U.S. Securities and Exchange Commission (SEC) is likely to extend its enforcement crackdown to both decentralized finance (DeFi) and stablecoins, wrote Berenberg in a research report published on Tuesday. 

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On June 20, Tether Operations Limited, the firm behind United States dollar stablecoin Tether (USDT), along with cryptocurrency exchange Bitfinex announced the allocation of a 100,000 USDT grant to support open-source privacy operating system Qubes OS.Paolo Ardoino, chief technology officer of Tether and Bitfinex, commented: 

Binance’s US-based exchange, Binance.US, has seen a sharp decline in its share of the trading volume among exchanges that support USD-to-crypto trading.

The cryptocurrency total market capitalization fell to $1.02 trillion on June 15, its lowest level in three months. But while the derivatives market's resilience and end-of-week price gains amid uncertainty in stablecoins' reserves provides hope for bulls, it might be too soon to celebrate.

Tether, the company behind market-leading stablecoin Tether (USDT), has addressed concerns regarding its operational decisions.

Tether Holdings Ltd. at one point counted securities issued by Chinese companies among the reserves backing its USDT stablecoin, according to Bloomberg News. 

Stablecoin-issuer Tether has published a lengthy response to reports that the reserves of Tether (USDT), one of the largest stablecoins, once included securities issued by Chinese companies. 

In an insightful conversation with Cryptonews, Paolo Ardoino, the CTO of both Tether and Bitfinex, shed light on crucial topics relating to the crypto world.

Binance said in a tweet on Monday it would swap 750 million tether-tron token pairs for tether-ether in an attempt to maintain the stablecoin's liquidity. The move comes amid renewed regulatory scrutiny at the world's largest cryptocurrency exchange and will help cushion some of the fallout from recent blows, including Binance being sued by the U.S. Securities and Exchange Commission. The swap, set to start after 12 p.m. UTC on Monday, will be held directly with the tether team, the tweet said. Tether is the largest stablecoin that aims to maintain a 1:1 peg with the U.S. dollar. Tron is the ninth largest cryptocurrency with a $6.3 billion market value, while ether is the largest after bitcoin, with its $210 billion market capitalization.

Tether’s stablecoin USDT has lost its dollar peg after two major pools for stablecoin trading became heavily imbalanced.

Tether-issued USDT (USDT) stablecoin slightly deviated from its dollar peg value on June 15 due to an imbalance in the Curve 3pool. The price of USDT fell by 0.3% to around 0.997 as the USDT weightage in the curve 3pool increased to over 70% from the ideal 33.1%.

A slight deviation in Tether's (USDT) stablecoin earlier today has caught the attention of cryptocurrency traders.

Binance CEO Changpeng “CZ” Zhao has refuted accusations that Binance has been secretly selling Bitcoin (BTC) to artificially stabilize the price of its native token Binance Coin (BNB).

A bearish trend formation has been pressuring cryptocurrency prices for the past eight weeks, driving the total market capitalization to its lowest level in more than two months at $1.06 trillion, a 2.4% decline between June 4 and June 11.

As Turkey’s economic woes continue to deteriorate with lira spiraling downwards, investors are turning to cryptocurrency as a safe haven. 

Tether minted a fresh batch of $1 billion worth of its Tether (USDT) stablecoin on the Ethereum blockchain on June 12. The latest billion-dollar mint for the stablecoin issuer comes within two months of its last mint on April 21.

Bitcoin and Ethereum, the dynamic duo of the cryptocurrency world, have recently hit turbulent waters as a wave of risk-averse sentiment swept through the market, triggering a substantial 7% sell-off in the last seven days. 

Stablecoin issuer Tether has dipped into its war chest to invest in El Salvador’s $1 billion renewable energy project to help drive Bitcoin (BTC) adoption in the Central American nation.

Binance.US customers will no longer be able to use U.S. dollars to buy crypto on the platform as early as June 13, hobbling the exchange's ability to do business in the United States, after both payment and banking partners «signaled their intent to pause USD fiat channels,» the exchange said.