Tether | Crypto

Following its latest freeze of nearly $86K in stolen USDt, Tether’s enforcement capabilities are again in the spotlight — raising questions about centralized control in stablecoin ecosystems. Tether, issuer of the world’s largest stablecoin, said on Sunday it had frozen $85,877 in USDt (USDT) tied to stolen funds, acting in “collaboration with law enforcement.” The move has reignited debate over the role of centralized stablecoin issuers in enforcing crypto compliance. The freeze, while relatively minor compared to other such actions by Tether, adds to the company’s growing record of intervention. Tether says it has frozen over $2.5 billion in USDt linked to illicit activity and has blocked more than 2,090 wallets in cooperation with global authorities. Related: Embedding human rights into crypto isn’t optional, it’s foundational Read more

Tether’s USDt stablecoin has surpassed $160 billion market cap, confirming its place as the digital dollar, as Tron leads in blockchain supply. The market cap of Tether’s USDt, the world’s largest stablecoin, has surpassed $160 billion for the first time, a “new mind-blowing milestone,” according to Tether CEO Paolo Ardoino. In a Thursday post on X, Ardoino called the achievement a testament to USDt’s growing role as the digital dollar for “billions of people living in emerging markets and developing countries.” USDt crossed $150 billion in May. Ardoino has said that USDt (USDT) is used by more than 400 million people worldwide, expanding by 35 million wallets each quarter, especially in emerging markets where it serves as a reliable dollar substitute. Read more

Tether, the world’s largest stablecoin issuer, minted an additional $2 billion USDT on July 16 on the Ethereum blockchain. Tether CEO Paolo Ardoino confirmed the mint via a post on X, clarifying that the new mints were an “inventory replenish” on Ethereum. This means the funds serve as inventory for future issuance and blockchain swaps, […] The post Tether mints $2 billion in USDT as supply reaches a record-breaking $160 billion appeared first on CryptoSlate.

Iurii Gugnin allegedly used fake documents to bypass sanctions and launder $530 million for Russian clients. In the process, he deceived US banks. Iurii Gugnin allegedly used his crypto firm to move $530 million through US banks and crypto exchanges using Tether (USDT), facilitating payments for Russian clients tied to sanctioned banks. Gugnin allegedly failed to implement AML regulations and didn’t file suspicious activity reports (SARs), violating the Bank Secrecy Act and misleading financial institutions. Gugnin also reportedly accessed websites that provided information on indicators of criminal investigation and methods for detecting law enforcement surveillance. Read more

These blockchains played a foundational role in Tether’s growth; however, their USDT volume has significantly declined in the last two years.

Tether announced it will discontinue support for its USDT stablecoin on five “legacy” blockchains, including Omni Layer, Bitcoin Cash SLP, Kusama, EOS, and Algorand. According to the July 11 announcement, the move will become effective Sept. 1, ending redemptions and freezing remaining tokens on those networks. The decision comes as part of what the company […] The post Tether to sunset USDT redemptions on 5 ‘legacy’ networks including Bitcoin Cash, Algorand appeared first on CryptoSlate.

Stablecoin issuer Tether is ending support for USDT on five "legacy" blockchains after previously halting minting on those networks.

The discontinuance of USDt on these blockchains has been in the works for years, as Tether looks to pivot its strategy to other protocols. Tether is discontinuing redemptions for USDt (USDT) on five legacy blockchains starting Sept. 1, the company announced on Friday. The move affects users of Omni Layer, Bitcoin Cash SLP, Kusama, EOS (now Vaulta), and Algorand. “Sunsetting support for these legacy chains allows us to focus on platforms that offer greater scalability, developer activity, and community engagement,” Paolo Ardoino, CEO of Tether, said in a statement. Tether’s sunsetting of support for these particular blockchains has been in the works for some time. In August 2023, the company announced it would no longer be issuing USDt on the Omni Layer, Kusama, and Bitcoin Cash SLP. In June 2024, Tether halted minting on EOS and Algorand. Read more

Tether CEO Paolo Ardoino revealed that the firm holds roughly $8 billion in gold in a Swiss vault during an interview with Bloomberg News on July 7. Ardoino called the site “the most secure vault in the world” and said the company owns almost the entire 80-ton stockpile outright, placing the El Salvador-based issuer among […] The post Tether holds $8 billion worth of gold in Swiss vault, matching UBS exposure appeared first on CryptoSlate.

The founder of Cardano (ADA), Charles Hoskinson once again confirmed that the project’s Foundation has engaged in conversations with the founding entities behind Circle and Tether – the issuers of the top stablecoins USDC and USDT.To the Cardano community, bringing these two stable assets to the blockchain’s ecosystem would favor a bullish Cardano price prediction.In […] The post Cardano Price Prediction: Hoskinson Confirms Talks With Circle and Tether – Massive Stablecoin Partnership Coming? appeared first on Cryptonews.

Stablecoin issuer Tether has signed a Memorandum of Understanding (MoU) with Adecoagro S.A. to explore a strategic collaboration centered on renewable-powered Bitcoin mining, according to a July 3 statement. Adecoagro, one of South America’s leading producers of sustainable agricultural goods and energy, is evaluating how its more than 230 MW of renewable energy capacity can […] The post Tether and Adecoagro join forces on renewable-powered Bitcoin mining venture appeared first on CryptoSlate.

With rising rates and over $100 billion in reserves, Tether turned monetary policy into profit, and it’s not alone. In the first half of 2024, Tether quietly posted one of the biggest profit hauls in crypto history, pulling in a staggering $5.2 billion across just two quarters. That’s not a typo: $4.52 billion in Q1, followed by another $1.3 billion in Q2.  Read more

PancakeSwap has emerged as the highest revenue-generating platform in the crypto industry over the last 24 hours, outpacing even major players like Tether. According to DeFiLlama data, PancakeSwap generated $24.6 million in fees on July 17, eclipsing Tether’s $19.9 million during the same period. This marks the DEX platform’s second-largest single-day fee haul, just behind […] The post PancakeSwap surpasses Tether with $24.6M daily revenue, driven by record $10B trading surge appeared first on CryptoSlate.

Tether’s investment in Canada’s Elemental Altus Royalties follows the company’s strategy to “integrate long-term, stable assets such as gold and Bitcoin in its ecosystem.” Tether, the issuer of the world’s largest stablecoin by market capitalization, continues its buying spree with its 32% stake acquisition in Canada’s public gold royalty firm Elemental Altus Royalties. Tether Investments on Thursday announced the acquisition of 78,421,780 common shares of Elemental (ELE) from La Mancha Investments, representing 31.9% of Elemental’s issued and outstanding shares. The transaction, completed Tuesday, was made at a price of $1.55 Canadian dollars ($1.14) per share, according to an announcement by Elemental, costing Tether approximately $89.4 million. Read more

Tether has indicated that it will release its Mining Operating System via Open-source mining. MOS runs on devices from Raspberry Pi to container farms and supports varied cooling and power setups. The release may narrow the software edge that public miners hold over smaller peers. The post Tether’s Open-Source Mining OS Could Shatter Barriers – Will Public Miners Lose Their Edge? appeared first on Cryptonews.

Tether is building a gateway for new players to enter Bitcoin mining by releasing its Bitcoin Mining OS (MOS) as open-source software by the end of 2025, according to CEO Paolo Ardoino. In a June 9 post on X, Ardoino explained that the move will lower barriers for small and independent miners. Tether expects to […] The post Tether to democratize Bitcoin mining with open-source software debut appeared first on CryptoSlate.

The USDt issuer plans to launch its open-source project by the fourth quarter of 2025, according to CEO Paolo Ardoino. Stablecoin issuer Tether plans to open-source its Bitcoin mining software, a move the company said would allow new miners to enter the market without relying on expensive third-party vendors. By open-sourcing its Bitcoin Mining OS (MOS), “A horde of new Bitcoin mining companies will be able to enter the game and compete to keep the network safe,” Tether CEO Paolo Ardoino said in a Monday X post.  Ardoino described MOS as scalable and modular, “built with a peer-to-peer [Internet of Things] architecture at its core.”  Read more

A recent analysis posted by Artemis CEO Jon Ma has sparked discussion about Tether’s potential market value, suggesting that if the company were to go public, its valuation could reach $515 billion. This figure would place Tether among the world’s largest corporations by market capitalization, ahead of well-known names such as Costco and Coca-Cola. Jon […] The post Bigger than Coca-Cola? If Tether went public, it could reach a $515B valuation appeared first on CryptoSlate.

Tether’s CEO points to the company’s growing Bitcoin and gold treasury as a reason why a speculative $515 billion valuation might actually be “a bit bearish.” Tether CEO Paolo Ardoino says the stablecoin issuer has no intention of going public, just days after rival Circle made its debut on the New York Stock Exchange (NYSE). “No need to go public,” Ardoino said on June 7, just two days after Circle, which is behind the stablecoin USDC (USDC), entered the public market on June 5. Circle’s shares climbed 167% on its first trading session on the NYSE. Ardoino addressed valuation speculation raised by Artmesis CEO Jon Ma, who claimed that if Tether, which is behind the stablecoin USDT (USDT), were to go public, it would rank as the 19th largest company globally with a valuation of $515 billion, larger than multinational giants like Costco and Coca-Cola. Read more

Tether has announced a strategic investment in Orionx, a digital asset platform operating in Latin America, according to a June 3 statement. The investment aims to accelerate the use of stablecoin-powered financial services across the region, particularly in underserved and inflation-prone economies. According to the statement, Orionx currently serves users in Chile, Peru, Colombia, and […] The post Tether invests in Orionx to boost stablecoin use in Latin America appeared first on CryptoSlate.