As trading volumes are falling, and assuming that trading is the dominant use case for stablecoins, a respective decline in market capitalization would be anticipated, according to Clara Medalie, Kaiko’s research director. USDC and BUSD stablecoins’ market caps have shrunk in tandem with trading volumes. “But we are not seeing CapFallsKaikoLowsMarketMultiYearQuestionableRiseTetherTradingUSDTVolume Read More
Banks want to reduce exposure to crypto businesses, just as crypto businesses are seeking to reduce exposure to the ongoing banking crisis. Tether’s latest audit report shows that the stablecoin issuer withdrew over $4.5 billion from banks in the first quarter to reduce counterparty risk following Circle’s troubles during the BackdoorBanksBitcoincryptoexchangeExchangesFleesLedgersPhrasesSeedTether Read More
Argentinians can now purchase dairy produce with the USDT stablecoin at the Central Market of Buenos Aires — one of the largest movers of fruits and vegetables in Latin America. The move was enabled by a partnership between the stablecoin issuer Tether and on-/off-ramp platform KriptonMarket. The collaboration will provide companies ArgentinasCentralKriptonMarketMarketSupportTetherTransactionsUSDT Read More
Tether, the stablecoin enterprise, has revealed its intention to devote 15% of its profits to bitcoin. The firm’s announcement comes on the heels of Tether’s recent attestation report, which emphasized the company’s possession of bitcoin reserves worth $1.5 billion.
Tether’s Strategic Shift: Profits to Fuel Bitcoin Acquisition
Tether, the company behind the AllocateBitcoinIssuerPlanProfitsRevealsStablecoinTether Read More
Stablecoin issuer Tether has announced plans to purchase Bitcoin with 15% of realized operating profits routinely.
Tether International Limited (Tether) seeks to further consolidate its reserves by purchasing Bitcoin (BTC) with its operating profits. An official post states that beginning this month, the stablecoin company will regularly allocate up to 15% of its realized BitcoinEnhanceIssuerPurchaseregularReservesTetherUSDT Read More
Tether, the company behind the largest stablecoin Tether (USDT), is following in the footsteps of MicroStrategy to manage its reserves. The stablecoin issuer plans to strengthen its reserves with the help of Bitcoin (BTC) and move away from United States-based government debts.In an announcement on May 17, Tether revealed that it BasedBitcoinBuyMonthlyNetProfitsTether Read More
The company said it will exclusively utilize realized profits from its investment operations for buying BTC, disregarding unrealized capital gains. It means that the firm considers “only the tangible gains from its operations,” consisting of the difference between the purchase price and net proceeds from an asset sale or, in BolsteringBTCBuyIssuerProfitsRealizedReservesStablecoinTetherUSDT Read More
Stablecoin operator Tether Holdings pulled over $4.5 billion out of banks in the first quarter of 2023, causing a “substantial reduction” in counterparty risk, the company reported in a post touting its latest attestation by BDO Italia. Tether’s market capitalization grew from $66 billion to over $82 billion in the first BanksBoastsFinancialMoneyMovedProfitsStabilityStrongTether Read More
Tether continues to dominate the stablecoin market with a market cap of over $82 billion and is currently the third-largest cryptocurrency by market cap.
On Wednesday, May 10, stablecoin issuer Tether released the results for the first quarter of the year (Q1 2023) announcing a net profit of a staggering $1.48 BTCGoldIssuerNumbersReservesStablecoinStrongTetherUnveils Read More
BDO Italia's latest attestation report for Tether revealed that Bitcoin (BTC) made up approximately $1.5 billion of the stablecoin issuer's reserves, or roughly 2% of the total, at the end of the first quarter. The accounting firm did not list Bitcoin as a line item in previous reports.Without much fanfare, 1.5BBDOBitcoinItaliaReservesTether Read More