Tether USDT shaken by stablecoin market storm
Top blockchain and crypto news: Billions cut ties with Tether. Are Terra’s UST troubles just beginning? China’s miners stay one step ahead.
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Tether, USDT market cap has dropped by US$10B since UST collapse
Tether, the operator of the world’s largest stablecoin USDT, has seen US$10 billion of its market capitalization shaved off since TerraUSD’s (UST) collapse. See related article: Nearly half of Tether reserves are now in US Treasury bills Fast facts USDT’s market capitalization was at US$73.35 billion at the time of publishing, following an all-time high…
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Nearly half of Tether reserves are now in US Treasury bills
Commercial paper backing Tether (USDT), the world’s largest stablecoin, has decreased by 17% from US$24.2 billion in Q4 2021 to US$20.1 billion in Q1 2022, according to Tether’s latest attestation report. See related article: Tether slashes commercial paper, shows more reserves than liabilities Fast facts Commercial paper in Tether reserves has been reduced by an…
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Tether stabilizes after burning 3 billion tokens amid redemptions
The world’s largest stablecoin destroyed a total of 3 billion USDT tokens in an account known as Tether Treasury through two separate burns on Thursday, according to data from blockchain tracker Whale Alert. See related article: Terra shuts down indefinitely after coming back online; LUNA, UST still on life support Fast facts “Burn burn burn,”…
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Should Tether’s shrinking cash reserves be cause for investor worry?
USDT, the world’s largest stablecoin, is now backed by much smaller cash reserves than before. XREX analyzes the risks.
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Tether slashes commercial paper, shows more reserves than liabilities
Tether cut its commercial paper holdings by 21% last quarter according to the stablecoin operator’s latest quarterly assurance opinion released Monday. See related article: Tether unveils reserves and backing for its USDT stablecoin in new report Fast facts Auditor MHA Cayman completed an attestation, finding Tether’s reserves held for its digital assets exceed the amount…
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Circle’s growth outpaces Tether as it doubles valuation
Circle’s USDC, the world’s second-largest stablecoin, is gunning for the title of the world’s top stablecoin as it closes in on Tether’s market capitalization after doubling its valuation to US$9 billion in a revised merger deal. See related article: Stablecoin issuer Circle to go public in US$4.5B SPAC deal Fast facts USDC’s market cap has…
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Myanmar’s resistance routes funding through Tether
Top blockchain and crypto news: Can stablecoins bankroll democracy? Nike swooshes into the metaverse. Animoca and Bored Apes venture deeper into the gaming jungle.
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Myanmar’s shadow government uses Tether in its fight against military rule
The National Unity Government recognizes Tether as an official currency, defying the cryptocurrency ban imposed last year.
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Tether pledges to work with policymakers on stablecoin transparency
Tether, issuer of the world’s most popular stablecoin USDT, has responded in multiple tweets saying it will work with policymakers, after the U.S. Senate Banking Committee earlier this week sent letters to several stablecoin issuers — including Tether — to inquire about their operational features. Fast facts In the tweets, Tether said it appreciates the interest from…