The stablecoin tether (USDT) has been ordered to provide evidence of its one-to-one backing to the US dollar in what it described as a “baseless lawsuit”.

Tether, the issuer of the USDT stablecoin, has announced it will no longer mint new USDT tokens on the Algorand and EOS blockchains. This decision, effective immediately, reflects Tether’s effort to optimize its blockchain ecosystem by focusing on community-driven support and resource allocation.

Tether will undergo an audit from one of the top 12 consulting firms, but not the one from the big four as they are concerned about reputational risk, due to the lack of regulatory definitions around stablecoins, Tether's CTO Paolo Ardoino told Euromoney. In an interview, the Tether CTO said: Read more at https://ihodl.com/topnews/2022-06-20/tethers-ardoino-says-no-audit-big-four-over-reputational-risk/

Tether CTO Paolo Ardoino has reiterated the stablecoin issuer’s stance that its operations, products and portfolio is indeed as strong as ever.

Stablecoin issuer Tether has added Britannia Bank & Trust, a privately-held bank operating in the Bahamas, to process dollar transfers, according to people familiar with the matter.

Tether’s move to block 32 addresses linked to “illicit activity” sees its total-frozen rise to a staggering $835 million.

Tether said July 1 that it is further reducing its commercial paper portfolio. This latest reduction will the stablecoin issuer’s commercial paper assets drop to a low of $3.5 billion from its current holdings of $8.4 billion, after $5 billion of these holdings expire on July 31.

Following the infamous crash of Terra’s algorithmic stablecoin UST, many investors and regulatory authorities have raised concerns about stablecoin generally, as they are expected to keep a 1:1 peg to the currency they represent.

Investors pulled out some $1.6 billion this week from USDT, the largest stablecoin by market capitalization, amid growing nervousness as cryptocurrency prices keep sliding.

The U.S. dollar-pegged stablecoin issued by Tether, USDT, has been rising in popularity in Lebanon amid rising inflation that has made access to foreign exchange from traditional channels difficult.

Cryptocurrency exchange Bitfinex and stablecoin issuer Tether USDT/USD have partnered with open-source protocol Hypercore to launch a video calling application, Keet, which also allows audio, text and file exchanges between users and supports Bitcoin Lightning and USDT payments.

Tether, the company behind the widely used stablecoin, has recently announced its increased presence in Georgia through an investment in CityPay.io. This investment is a significant milestone for the payment processing industry as Tether becomes the first stablecoin to invest in CityPay.io, a leading payment processing company operating in over 600 locations across the country.

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In a swift and proactive move aimed at safeguarding its financial stability, Tether, the issuer of the renowned USDT stablecoin, has substantially lessened its ties with the banking sector. As a result, the company pulled out a staggering $4.8 billion from bank deposits in the initial quarter of 2023, which undoubtedly sent ripples across the financial landscape.

Among crypto-focused hedge funds, USDT stablecoin shorting is on the rise amid negative market sentiment and the collapse of the Terra ecosystem. This was reported by The Wall Street Journal.

If you’ve made any crypto transactions before, chances are good that you’ve used Tether USDT. In fact, you could have used it while not knowing what it is in the first place. If that’s true, then this article is perfect for you. Read on!

In a bold move to diversify its portfolio and reinforce its commitment to providing robust and stable financial products, Tether has launched a new synthetic dollar backed by gold. The announcement came on June 17, 2024, revealing that the new synthetic asset, Alloy by Tether—trading as aUSD₮ via smart contracts on the Ethereum Mainnet blockchain and created on Tether’s new platform, Alloy—will be pegged to the value of Tether Gold (XAU₮), a token that tracks the value of gold.

Tether USDT stablecoin cannot be used for salary payments, a Chinese court ruled, citing the country’s blanket ban on all types of crypto transactions.

Stablecoin issuer Tether today announced that its flagship stablecoin, USDT, is now live on Near, a layer 1 blockchain network that focuses on usability among developers and users.

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