Category: USDT

January sees $237 billion in monthly stablecoin volume thus far, breaking prior record

January sees $237 billion in monthly stablecoin volume thus far, breaking prior record

January has seen more than $230 billion in on-chain stablecoin volume since the start of the month, according to data collected by The Block. That figure — $237.2 billion as of January 25 — represents the highest monthly amount of its kind, surpassing December’s total of $178.3 billion by 33%.  USDT (Tether) had seen the […]

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USDT Transactions on Tron Surpassed Ethereum Tether Transactions Every Day in 2021

USDT Transactions on Tron Surpassed Ethereum Tether Transactions Every Day in 2021

During the last two months, tether transactions have spiked considerably. More recently, however, USDT transactions on the Tron network have outpaced the number of tether transfers on the Ethereum blockchain. Despite a whole lot more ERC20-based tethers in the wild, the minted stablecoin using the TRC20 standard has seen a much larger transaction count all […]

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Robbers Take $450K From a Tether Trader During an In-Person Transaction in Hong Kong — Second Incident in 2021

Robbers Take $450K From a Tether Trader During an In-Person Transaction in Hong Kong — Second Incident in 2021

Hong Kong police are investigating the second incident in the year involving an offline cryptocurrency transaction. A female trader is reportedly the latest victim of robbers who stole her HKD 3.5 million ($451,000) worth in tether (USDT) tokens. One of the Robbers Gained Female’s Trust by Performing Three Successful Transactions According to the South China […]

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Russian crypto exchange Livecoin is shutting down after a claimed attack that caused a $3.3 million loss to users

Russian crypto exchange Livecoin is shutting down after a claimed attack that caused a $3.3 million loss to users

Russian cryptocurrency exchange Livecoin has announced that it is shutting down after witnessing a “carefully planned attack” last month. “Our service has been damaged hard in technical and financial way,” said Livecoin on Saturday. “There is no way to continue operative business in these conditions, so we take a hard decision to close the business […]

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Deltecbank Reveals Huge Position in Bitcoin, Why Tether Might be in Trouble Again?

Deltecbank, a Tether banking partner recently revealed that they own a position in Bitcoin which under normal circumstances would be bullish news, however, given NYAG lawsuit against Tether and Bitfinex for manipulation of funds and Tether being a stablecoin issuer makes it quite a tricky situation and not a good one for Tether. Deltecbank’s chief […]

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Bitfinex Executives Deny Allegations of Issuing USDT to Pump BTC –  “Tether Backed by Cash Assets and a Loan”

Bitfinex Executives Deny Allegations of Issuing USDT to Pump BTC – “Tether Backed by Cash Assets and a Loan”

Bitfinex general counsel Stuart Hoegner has dismissed the notion that only 74% of the tether stablecoin in circulation is fully backed. Hoegner insists the stablecoin is fully backed by assets that include cash, cash equivalents as well as bitcoin. However, both Hoegner and the company’s CTO Paolo Ardoino, are pushing back against the narrative that […]

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Tether is launching on Hermez — an Ethereum Layer 2 scaling solution that uses ZK-Rollups

Tether is launching on Hermez — an Ethereum Layer 2 scaling solution that uses ZK-Rollups

Stablecoin Tether (USDT) is launching on Hermez Network — an Ethereum Layer 2 scaling solution that uses ZK-Rollups. Sharing the news with The Block on Monday, Hermez said USDT will go live on the network when its mainnet launches in the coming weeks. Hermez is targeting mid-February for the launch, technical lead Jordi Baylina told […]

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On-chain volumes for stablecoins reached a new monthly high in December

On-chain volumes for stablecoins reached a new monthly high in December

December ended 2020 with the highest adjusted on-chain volume for stablecoins, according to data compiled by The Block.  The total stablecoin volume for December was $178.34 billion, which is a 20.8% increase from the previous month. December was also $18.16 billion (11.3%) greater than the former high in September 2020.  Tether (USDT) held 71.2% of […]

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9 Trillion vs. 100 Trillion: Billionaire Mike Novogratz Asks Which Cryptocurrency Will Win the Payments Race

9 Trillion vs. 100 Trillion: Billionaire Mike Novogratz Asks Which Cryptocurrency Will Win the Payments Race

On December 31, billionaire investor Mike Novogratz asked his Twitter followers which blockchain coin has the best chance of winning the payments race and offered four choices. Novogratz said there are lots of “contenders” and listed off Facebook’s diem, tether, bitcoin cash, and Circle’s popular stablecoin. This week Mike Novogratz asked his Twitter followers out […]

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