Tether (USDT)

Stablecoin payment adoption continued to thrive last year despite massive capital outflows from the crypto market at large, according to a new report from European hedge fund manager Brevan Howard. Analysts found that the stablecoin market settled over $11 trillion in value in 2022 and that over 25 million blockchain addresses held over $1 in stablecoins. Stablecoin Adoption by the Numbers The fund’s report – co-authored by Venture Co-Head Peter Johnson and quant analyst Sai...

Stablecoin giant Tether has published another transparency report detailing the composition of its reserves, and the blockchains on which its tokens are issued. The report confirms that Tether has $3.3 billion in excess reserves, meaning its tokens are over 100% backed. Analyzing Tether’s Reserves Per the report published on Thursday, Tether owns $86.1 billion in assets, while possessing $82.8 billion in liabilities. These liabilities exist in the form of dollar-pegged USDT...

Binance CEO Changpeng Zhao (CZ) credited a little-known X (formerly Twitter) user on Wednesday for dispelling rumors of internal chaos at Binance, which suggested that the exchange was desperately selling its Bitcoin stash to protect the price of its native token, BNB. The rumors pertained to a vulnerable BNB collateralized DeFi loan on Venus protocol that approached liquidation this week. Is BNB in Trouble? As explained by @zkHopium, the loan in question began with BNB...

In a move to bring back dollar transactions for US customers, Binance.US, the American subsidiary of the world’s largest cryptocurrency exchange, has inked a new partnership deal with crypto payments startup MoonPay. Binance.US, which is in an ongoing legal battle with the Securities and Exchange Commission (SEC), suspended USD deposits for users in the United States following the departure of its banking partners. Binance.US and MoonPay In a blog post on Tuesday (Aug. 22,...

The Federal Bureau of Investigation (FBI) announced confiscating approximately $1.7 million worth of crypto assets from March to May in the United States in a bid to combat illicit activities. The seizures were carried out as a result of numerous breaches in federal regulations. The law enforcement agency took control of $147,000 in Bitcoin (BTC), $800,000 in Ether (ETH), $307,000 in Tether (USDT), 469,000 in Dai, and $20,000 in Monero (XMR) across Arizona, California,...

A crypto wallet connected to the October 2022 BNB Chain $600 million exploit has lost roughly $63 million on the decentralized lending platform Venus Protocol due to liquidation that resulted from the massive bloodbath in the market yesterday. According to a series of tweets by blockchain security firm PeckShield, the exploiter’s wallet was first liquidated of 1.1 million Venus BNB (vBNB) worth around $9.9 million with the asset’s price as $9.4. The second liquidation was...

CoinspeakerTether Decides to Discontinue Bitcoin Stablecoin amid Lack of Usage Along with Bitcoin Omni Layer, Tether has also decided to discontinue the stablecoin versions of Bitcoin Cash and Kusama. Tether Decides to Discontinue Bitcoin Stablecoin amid Lack of Usage

Stablecoin giant Tether announced on Thursday that it has discontinued USDT support for three blockchains, on which the token “lacks significant traction.” Those chains include Bitcoin’s Omni Layer, Bitcoin Cash’s Simple Ledger Protocol (SLP), and Kusama. No Signs Of Omni Adoption As explained on Tether’s website on Thursday, community interest is a “key factor” in deciding whether or not the company will bring USDT to a particular network. “If a blockchain lacks significant...

Shiba Inu has shared yet another announcement with its community. The ecosystem’s marketing strategist took it to Twitter (now known as X) to reveal that the SHIB Doggy DAO has partnered with a leading digital asset advisory and investment firm. Source: XSHIB Doggy DAO Shakes Hands with ATH The new partnership is struck between Alpha Transform Holdings (ATH) and SHIB Doggy DAO. The latter is the decentralized autonomous organization that’s governed by holders of the SHIB...

Ethereum price is struggling to climb above the $1,880 resistance against the US Dollar. ETH price is now trading below $1,860 and the 55 simple moving average (4 hours). There is a major bearish trend line forming with resistance near $1,850 on the 4-hour chart (data feed from Coinbase). The pair could continue to move down if it breaks the $1,835 support zone. Ethereum price is declining below $1,850 against the US Dollar. ETH/USD remains at a risk of more...