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 […]
Report Shows Scammers Use Tether (USDT) For Illegal Activities
A recent UN Office on Drugs and Crime report indicates that Tether, a significant player in the cryptocurrency industry, is becoming the tool of choice for money launderers and fraudsters in Southeast Asia. The UN’s Office on Drugs and Crime has issued a report that emphasizes the concerning increase in fraudulent activities, with a specific […]
Britannia Financial Reportedly Faces Lawsuit Over $1B Deposit
Britannia Financial, Tether’s Bank Partner, is being sued on suspicion that it neglected to remit the complete value of revenue-generating assets purportedly associated with a $1 billion deposit from Tether. Arbitral International, a British Virgin Islands-based company, has filed suit against Britannia regarding a $1 billion deposit from Tether, according to court documents filed with […]