Tether (USDT)

A United States judge has concluded the dismissal of a class action lawsuit against stablecoin issuer Tether and its affiliate crypto exchange Bitfinex, two years after the plaintiff made a move against the firms. According to a blog post, Chief Judge Laura Taylor Swain of the U.S. District Court for the Southern District of New York denied Shawn Dolifka’s motion for leave to amend the class suit. Dolifka has now chosen not to appeal the judge’s decision. The Class Suit...

Bitcoin (BTC) plummeted back to $35,100 on Tuesday after briefly rallying as high as $38,000 late last week. The collapse has triggered over $367 million in liquidations across the crypto market in the past 24 hours. According to Coinglass, over $200 million in liquidations have occurred in the past hour alone. Across the day, over 103,000 traders have been liquidated, with the largest being a BTC-USDT swap on OKX valued at $9.45 million. Bitcoin started the day trading for...

Tether, the issuer of the world’s largest stablecoin USDT, is planning to launch five new projects in 2024, further expanding its reach beyond stablecoin issuance. Tether CEO Paolo Ardoino hinted at the new projects in a recent tweet, saying the company is “quite close” to adding “another extremely powerful piece of the puzzle” to its ecosystem. Tether CTO Hints at 5 “Mind-Blowing” Projects for 2024 According to Ardoino, a couple of these upcoming projects are designed to...

Over 175 different tokens with valuations exceeding $10,000 were stolen as part of a massive hack against the U.S.-based crypto exchange Poloniex on Friday, according to on-chain data. Since earlier today, estimates of the funds stolen in the hack have expanded to $125 million. What Hackers Took From Poloniex According to an X post from Nansen, some of the largest Ethereum-based outflows from Poloniex in the past 24 hours have included $11 million in Tether USD (USDT), and...

The listing of ORDI token on Binance comes with a Seed Tag hinting at elevated levels of risk and volatility compared to other listed tokens. In the latest announcement on Tuesday, November 7, Binance will list Ordinals (ORDI) on the platform while introducing spot trading pairs such as ORDI/BTC, ORDI/USDT, ORDI/TRY. Furthermore, Binance also announced that they would be applying a Seed Tag to ORDI. Ordinals is a new inscription protocol on the Bitcoin network. The total supply of Bitcoins...

Bitrace has recently unveiled a concerning trend within the Telegram coin exchange robot ecosystem, primarily involving the TRC20 USDT cryptocurrency. This trend includes a substantial number of addresses associated with gambling, money laundering, stolen coins, and fraudulent activities, which can potentially taint innocent users’ addresses and expose them to financial threats. Bitrace Research Reveals Concerns on Telegram Coin Exchange A recent study by Bitrace Research has...

Stablecoins are often viewed as assets that pose systematic risks to the financial market. However, these pegged tokens have become the most popular category among investors amid adverse market conditions. QuickNode’s latest on-chain report revealed a notable surge in stablecoin activity across blockchain networks. Stablecoins saw a 45% growth in active addresses and a 41% increase in transactions between the first and third quarters. Contrastingly, DeFi experienced...

Technical Analysis By TradingRage Ripple has been demonstrating bullish price action against both USDT and BTC recently. Investors are once again looking optimistic about the short-term future. Yet, some signs suggest that a pullback or consolidation might be on the horizon. The USDT Paired Chart Against USDT, the price has been on a consistent rise since a rebound from the $0.5 level earlier in October. The 50-day and 200-day moving averages were also broken to the upside,...

Europe’s leading Bitcoin miner and data cloud provider – Northern Data – announced securing EUR 575 million (worth over $609 million) debt financing facility from stablecoin issuer, Tether after entering into a loan agreement. The facility, operating under standard market conditions, is unsecured and set to mature on January 1, 2030, and is expected to allow Northern Data Group to make further investments across its three business lines Taiga Cloud, Ardent Data Centers, and...

[PRESS RELEASE – Georgetown, Cayman Islands, November 2nd, 2023] Injective, a Cosmos Layer-1 blockchain designed to power next-generation DeFi applications, has selected the Kava Chain’s Native USDT for their Perps trading. The Kava Chain is a secure, lightning-fast Layer-1 blockchain that combines the developer power of Ethereum with the speed and interoperability of Cosmos. This collaboration is poised to bring significant benefits to users of both platforms, signaling that...