Tether’s USDT Stablecoin Reaches $100B Market Cap
Tether’s stablecoin, USDT, has surpassed $100 billion in market capitalization. This milestone further widens the disparity between Tether USDT and USD Coin, its nearest competitor. CoinGecko data indicates that USDT’s market capitalization fluctuates based on the current price and supply in circulation; on March 4, the cryptocurrency briefly surpassed $100 billion. Compared to its nearest […]
Coinbase, Circle Advocate for US Action Against Tether
Executives from Coinbase and Circle have urged US authorities to step up their efforts against Tether and other offshore cryptocurrency companies that don’t follow the law. The head of Financial Crimes Legal at Coinbase, Grant Rabenn, addressed the problem of criminals using overseas platforms to get around the stringent anti-money laundering (AML) regulations imposed on […]
JPMorgan Foresees Tether’s Fall as Global Regulators Tighten the Rules
JPMorgan analysts warn that Tether, the largest stablecoin by market cap, could lose its edge over other stablecoins as global regulators tighten transparency and anti-money laundering rules. Tether (USDT) is a stablecoin that claims to be backed by the US dollar at a 1:1 ratio. Tether is widely used in the crypto market as a medium […]
Tether Invests in Oobit to Expand Crypto Payments Globally
Tether recently revealed a $25 million investment in Oobit, a mobile payment company, opening up a more accessible route for cryptocurrencies in regular commerce. Oobit’s mobile app aims to alter how cryptocurrency owners engage with traditional retail establishments. It allows consumers to use their digital assets at more than 100 million Visa and Mastercard-accepting shops […]
Tether Responds to UN Report About Illicit Use of USDT
Tether has responded to the United Nations (UN) report emphasizing using Tether’s stablecoin USDT in illicit activities. On January 15, the Southeast Asia and the Pacific division of the United Nations Office on Drugs and Crime (UNODC) published a report on concerns about the illicit and clandestine utilization of cryptocurrencies. A Hidden, Accelerating Threat: Casinoes, Money […]