Tether (USDT)

Singapore Red Cross – a humanitarian aid and community services charity in the Asian city-state – allowed people to contribute to its cause via donations in digital currencies. The option became possible after a partnership between the organization and the crypto payment gateway Triple-A. ‘Coin a new Way to Give Today’ The charity entity revealed that individuals willing to make such donations can set an amount in fiat, and the system will automatically convert the sum into...

Payments giant PayPal is launching its own stablecoin, and the move has got both traditional fintech players as well crypto firms excited. Dubbed ‘PYUSD,’ the stablecoin is built on Ethereum and is 1:1 redeemable for US dollars. The move essentially marked the first such move from a major financial institution in the United States. While PayPal briefly stopped working on its stablecoin a few months ago amid tightening regulatory scrutiny of crypto, the subsequent announcement...

Stablecoin issuer Circle is a US-based company, and 70% of its USDC adoption originates from non-US regions. According to the estimations of Circle CEO Jeremy Allaire, some of the fastest growing areas are emerging and developing markets, which are not in the country that has been facing severe regulatory uncertainty. Not Fixated on US Allaire took to X (formerly Twitter) to reveal observing “strong progress” across Asia, LATAM, and Africa, highlighting the demand for “safe,...

Ripple’s price is currently correcting after a significant surge following the win against SEC. However, there is little reason for concern as there are multiple support levels nearby. Technical Analysis By: Edris XRP/USDT Daily Chart: Against USDT, the price has been constantly declining after being rejected from the $0.9 resistance level. The market is likely targeting the 50-day moving average around the $0.6 support level. The 200-day moving average trending near the $0.5...

Crypto trading platform Bitstamp has introduced an XRP lending service offering a “permanent” 2% yield, shortly after relisting the asset for trading last month. This puts XRP on an already sizable list of coins viable for 2% APY on Bitstamp, including Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and Tether USD (USDT). Permanent Yield On XRP? As explained by Bitstamp in a blog post on Thursday, the company partners with Tesseract for its lending service, which “only lends...

A phishing scammer recently nabbed $20 million in USDT from an unsuspecting victim using a zero transfer phishing attack, reported blockchain security firm PeckShield on Tuesday. The stolen funds were frozen in short order by Tether – the issuer behind USDT – raising questions about who the victim was given the speed of their response. The Zero Transfer Phishing Attack According to PeckShield, the victim address intended to send funds to one wallet, but was fooled into...

Tether, the world’s largest stablecoin issuer, released an assurance report on Monday covering its financials as of June 30. The Q2 attestation showed that the issuer now holds over $3.3 billion in excess reserves to back its USDT tokens. Tether’s Massive Surplus As explained by Tether in an accompanying blog post, the issuer’s excess reserves stem from the profits generated by its existing reserves. These profits are not distributed to shareholders and are instead solely...

Ripple’s price is currently in a correction phase after a significant spike a few weeks ago. Nonetheless, there are several support levels against both USDT and BTC. Technical Analysis By: Edris XRP/USDT Daily Chart: On the daily timeframe of the USDT paired chart, the price has recently been rejected from the $0.9 level and is currently declining. The $0.6 support level and the 50-day moving average located around the same area are probable targets for a deep pullback....

Supporters of war-torn Ukraine have reportedly donated over $225 million worth of crypto to the country in its fight against Russia.  Prominent companies and figures part of the digital asset industry, such as the world’s largest cryptocurrency exchange Binance and Tron’s founder Justin Sun, have also contributed to the nation’s efforts. The Strong Start Followed by Stagnation According to a Crystal Blockchain report (seen by CoinDesk), Ukraine has received almost a quarter...

The market capitalization of the largest stablecoin – USDT – recently tapped an all-time high of $83.76 billion (according to the crypto analysis firm IntoTheBlock). Other data aggregators, though, showed that the asset had increased well beyond that level earlier this month. Stablecoins have performed quite well lately, and USDT continues to dominate the entire field. The combined market capitalization of the six biggest such tokens spiked last month to almost $125 billion....