A delay in Tether’s USDT blacklisting process allowed over $78 million in illicit funds to evade freezing, according to an AMLBot report. Update (May 15 at 3:10 pm UTC): This article has been updated to include comments from Tether. A lag in Tether’s wallet blacklisting process allowed over $78 million in illicit funds to be moved before enforcement actions took effect, according to a new report from blockchain compliance company AMLBot. Tether’s address blacklisting becomes effective only after a considerable delay from when the process is initiated on Ethereum and Tron, according the report published May 15. Read more
Tether added another 4,812 Bitcoin to Twenty One Capital’s Bitcoin holdings, currently trading under Cantor Equity Partners until the firms finalize a merger. Stablecoin issuer Tether bought $458.7 million worth of Bitcoin for Twenty One Capital, a Bitcoin investment firm it backed that’s awaiting the completion of a Special Purpose Acquisition Company (SPAC) merger with Cantor Equity Partners. Tether snapped up 4,812.2 Bitcoin (BTC) at $95,319 each and transferred it to an escrow wallet on May 9, Cantor Equity Partners disclosed in a May 13 filing with the US Securities and Exchange Commission. It brings Twenty One’s total Bitcoin holdings to 36,312 BTC, as Cantor Equity Partners holds 31,500 BTC on behalf of the firm, which will trade under the ticker XXI once the SPAC merger is complete. Read more
Despite restrictions in many developed markets, USDt still commands 61% of the total stablecoin market by circulating supply. Tether’s USDt (USDT) surpassed a $150 billion market capitalization for the first time on May 12, marking a new milestone amid growing stablecoin adoption. USDt’s circulating supply has expanded by over 36% in the past year, with growth accelerating in November following the election of US President Donald Trump. At its current supply, Tether accounts for 61% of the global stablecoin market, according to CoinMarketCap data. It’s followed by Circle’s USDC (USDC), which accounts for nearly 25% of the stablecoin market. Read more
Tether’s current reserves excess is at its lowest point since Q2 2024 when the company held $5.3 billion in reserves. Tether, the company behind the world’s largest stablecoin by market capitalization, has released its financials for the first quarter of 2025, disclosing nearly $120 billion in exposure to US Treasurys and over $1 billion in operating profit. According to Tether’s Q1 2025 financial report, the company’s assets include $98.5 billion in direct US Treasury bills, along with over $23 billion in additional exposure through repurchase agreements and other cash-equivalent assets. According to the announcement, Tether holds $5.6 billion in excess of reserves for its USDt (USDT) stablecoin, down from $7.1 billion in excess from the last quarter of 2024. The stablecoin has a market capitalization of $149 billion as of May 1. Read more
Paolo Ardoino said that the recently implemented European framework on digital assets was "very dangerous when it comes to stablecoins." Paolo Ardoino, CEO of stablecoin issuer Tether, addressed criticism over the company's decision not to seek registration under the European Union’s Markets in Crypto-Assets (MiCA) framework, arguing that the regulations were risky for stablecoins. Speaking to Cointelegraph at the Token2049 conference in Dubai, Ardoino reiterated that Tether had no plans to apply for its US dollar-pegged stablecoin USDt — the largest by market capitalization — to be compliant under MiCA in European countries, potentially forcing exchanges to delist the stablecoin. He added that though crypto firms had to follow regulations, there was a “fear of compliance” among companies in the EU. “[...] MiCA license is very dangerous when it comes to stablecoins, and I believe that is even more dangerous for the small, medium banking system in Europe,” said the Tether CEO, adding that banks in the region c...