Tether launches USDT stablecoin on Polkadot blockchain

    Tether, the company that powers the largest stablecoin by market cap and the 3rd largest cryptocurrency, announced the launch of Tether (USDT) on Polkadot. The launch will allow Tether to move in and out of the Polkadot network. Tether, the largest stablecoin on the market, continues to expand its footprint in decentralized ecosystems with the…

    Tether won’t freeze Tornado Cash addresses, despite US sanctions

    Following the US government banning the Ethereum mixing platform Tornado Cash, the stablecoin issuer Tether Holdings Ltd. revealed on August 24 that the company would not “freeze Tornado Cash addresses.” The recent blog post about the subject says Tether is waiting for instructions from law enforcement. The stablecoin issuer has yet to receive a request…

    Tether reveals its reserve attestation report from its new auditing firm BDO Italia

    Tether, the issuer of the largest stablecoin USDT, published its latest quarterly attestation report for the token’ reserves on August 19. The report by Tether’s new auditing firm BDO Italia confirmed a more than 57.5% decrease in Tether’s commercial paper holdings over the prior quarter. However, many still await Tether’s audit report from a “Big…

    Tether and Bitfinex to launch decentralized video chat Keet

    Digital asset exchange Bitfinex and Tether, the project behind the troubled USDT stablecoin, have joined forces with peer-to-peer (P2P) protocol Hypercore to roll out a blockchain-powered video calling app Keet. The app, which represents a decentralized alternative to popular centralized communication apps such as WhatsApp and Zoom, is built on a fully encrypted platform for…

    $10 billion worth of Tether was redeemed since the crypto crash

    Tether (USDT), the multibillion-dollar stablecoin. has paid out $10 billion in withdrawals since the crypto crash started in early May. The pace of withdrawals means the company is effectively dealing with a slow-motion bank run, as depositors seek to move their cash to more heavily regulated stablecoins. According to public blockchain data, $1 billion USDT…

    Major Stablecoin Debacle. Part 2

    This past week will surely go down in the history of cryptocurrencies as the point that marked a major shift in attitudes towards stablecoins. On the one hand, it became clear that algorithmic stablecoins did not live up to expectations. On the other, authorities all across the world got a reason to regulate this segment…