Tether’s USDT market cap dips for an 8-month low
During the current market downturn, Tether (USDT), the largest stablecoin and third-largest digital currency by market capitalization continue to lose value dipping below $70B in the last 8 months. USDT’s market cap fell below $70 billion for the first time since October 2021 on June 16. The slump came following a string of losses that […]
Whitepay Claims To Raise And Distribute 2 Million USDT To Ukrainians
The new crowdfunding platform, with a primary goal towards raising funds for Ukrainians and Ukraine military, claimed to raise 2 million of the stablecoin tether. Crypto Donations To Ukrainians Whitepay, a crowdfunding platform that helps Ukrainian civilians and military personnel, recently announced that it has raised $200,000 USDT. According to a tweet from the fund […]
Stablecoins: A General Overview Of What They Are, How They Work, And How To Buy Them
Stablecoins are created to remove price fluctuation associated with other kinds of cryptocurrency. They provide crypto users with more benefits, in terms of less volatility. Stablecoins are kinds of cryptocurrencies whose values are pegged to the value of real assets like the US dollar. These coins were developed as a tool of response to the […]
Tether denies report of using its reserves for investments and making crypto-backed loans
Tether (USDT), the largest stablecoin by market capitalization, has denied the facts of a Bloomberg story about its reserves holdings, calling the report a “tired attempt” to undermine the company. Bloomberg journalist Zeke Faux said in a Thursday story that Tether’s chief financial officer Giancarlo Devasini has utilized the company’s reserves to make investments, contradicting […]
Tether claims to have boosted its overall assets by $21B in a recent accounting review
Tether began producing public accounting reports in February 2021, following a settlement with the New York Attorney General’s office. On Monday, Tether Holdings Limited, the firm behind the USDT stablecoin , released an independent accountant report saying that its tokens are fully guaranteed by its reserves. Moore Cayman, a Cayman-based accounting network, assessed Tether’s most […]