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The conversion of tether to Brazilian reals and vice versa will be managed by local crypto services provider SmartPay in conjunction with TecBan, which owns the ATMs. Original Source
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The company has been gradually replacing its commercial paper holdings with U.S. Treasury bills. Original Source
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The "strategic investment" will be converted from its overcollateralized stablecoin, with 80% going towards U.S. short term Treasuries and the remaining 20% to investment grade corporate bonds. MakerDAO's community voted in favor of the allocation proposal, which was presented in late June. Original Source
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The firm had said it plans to bring its commercial paper holdings to zero by the end of the year. Source
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On Thursday, at the Converge22 event in San Francisco, Circle announced the acquisition of the payment orchestration company Elements. Circle explained that the acquisition includes plans to “quickly scale payment offerings.” Circle says the new service will make it easier for merchants to integrate their existing points of contact with
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The order relates to an ongoing lawsuit that alleges that unbacked USDT issuances have caused $1.4 trillion in damage to the market. Source
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Stablecoin issuer Tether has hit back at a Wall Street Journal article that claimed its balance sheet comprised of "unsafe assets." Original Source
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While the crypto community is still talking about the U.S. government banning the ethereum mixing platform Tornado Cash, the stablecoin issuer Tether Holdings Limited revealed on Wednesday that the company would not “freeze Tornado Cash addresses.” Tether’s recently published blog post about the subject says the company is waiting for
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The firm, a member of the Binder Dijker Otte, or BDO, global network of accounting and consulting firms, will publish the attestations and assurance reports that detail the assets that make up the $67 billion the USDT stablecoin has in reserves, Tether said Thursday. Original Source
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Tether’s Bitcoin (BTC)-denominated loan to Celsius Network has been fully liquidated without a loss, easing concerns that the stablecoin issuer may have oversized exposure to the embattled crypto lender.In a statement issued Friday, Tether explained that its lending arrangement with Celsius prevented any downside risk to its underlying business. Specifically,
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