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OKX has decided to compensate all the impacted users by air-dropping more than 3 million USDT by putting its own 1 million USDT in addition to the seized amount. On Tuesday, February 28, crypto exchange OKX seized more than $2 million worth of Tether’s USDT stablecoins allegedly linked to
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According to a press release published by cryptocurrency exchange OKX on Feb. 28, the firm said that it seized 2,014,381 Tether (USDT) from five accounts suspected of partaking in "malicious market manipulation," of the Celestial (CELT) token. As told by OKX, on Feb. 26, Celestial developers announced the creation of
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Some companies in Venezuela are using the stablecoin tether as a way of sidestepping sanctions and settling payments with foreign customers and providers. Local reports indicate that, while the most popular use case for the stablecoin involves its purchase for devaluation shielding purposes, a handful of companies are also harnessing
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In the largest BUSD pool on decentralized finance (DeFi) protocol Curve, where traders can swap between stablecoins, traders almost depleted the USDT, USDC and DAI liquidity. Now, 85% of the pool’s liquidity is BUSD, making it difficult for traders to exchange large amounts of BUSD, and forcing sellers to accept
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Tether CTO has rejected WSJ’s investigative report calling it a “clown article”. The report highlights the massive concentration of USDT control in the hands of a few.On Thursday, February 2, the Wall Street Journal published an investigative report highlighting the highly polarized distribution of USDT control by Tether founders. This
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USDT remains the biggest stablecoin in the market with a market capitalization of $66.38 billion.Leading stablecoin Tether (USDT) has reportedly flipped top payment processors Visa and Mastercard in terms of settlement volume. This was disclosed in a recent tweet by Tether, suggesting that USDT processed about $18.2 trillion in transactions
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In December, the Canadian Securities Administrators (CSA) announced strengthening its approach to oversight of crypto trading platforms by expanding existing requirements for platforms operating in Canada. One of the leading global exchanges Crypto.com has announced its decision to delist Tether’s USDT stablecoin for Canadians in order to comply with instructions from the Ontario Securities
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According to user reports on Jan 10, cryptocurrency exchange Crypto.com plans to delist Tether (USDT) for Canadian users effective Jan 31, 2023. According to the firm, if users do not withdraw or convert their USDT assets by the deadline, then their Tether will be automatically converted into USD Coin (USDC). "You
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The move comes after the Canadian Securities Administrators committed to stronger oversight over crypto exchanges following FTX’s collapse. Original Source
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