#tether

Tether, the issuer of stablecoin USDT, reported $2.5 billion in net profit for Q3 2024. Independent auditing firm BDO confirmed that Tether’s total profit for the first nine months of 2024 reached $7.7 billion, with all declared reserves fully verified.

Paolo Ardoino, CEO of Tether, voiced apprehensions about Europe’s MiCA regulation (Markets in Crypto Assets), which he believes could pose substantial risks to stablecoin issuers.

Tether’s USDT has reached a new record-high market cap of $120 billion. This increase reflects the growing demand for cryptocurrencies, with stablecoins like USDT playing a key role in providing liquidity quickly and efficiently.

In addition to Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and the stablecoin Tether (USDT), MoonPay users can now add XRP to their portfolios. This expansion aligns with the growing demand for this cryptocurrency and broadens the platform’s capabilities.

Tether, the issuer of the world’s largest stablecoin, USDT, is celebrating a decade of operations. In honor of this milestone, the company has announced a documentary titled "Stability and Freedom in Chaos," which focuses on USDT's role in combating national currency inflation, using case studies from countries like Turkey, Brazil, and Argentina.

Coinbase, the world’s second-largest cryptocurrency exchange by trading volume, announced it will delist all stablecoins that do not meet the MiCA regulations set by European authorities. Among those at risk is USDT, the leading stablecoin issued by Tether Holdings Ltd.

Tether’s USDT stablecoin established itself as a major force in the global financial system. Its uses are now expanding well beyond the crypto world, notes Paolo Ardoino, CEO of Tether.

Tether, TRON, and TRM Labs established the T3 Financial Crime Unit (T3 FCU)—a collaborative initiative aimed at fighting financial crimes within the cryptocurrency sector. This is a pioneering move where private companies united to assist law enforcement agencies.

Tether, the issuer behind the USDT stablecoin, is planning to double its headcount over the next year to better meet regulatory demands. This expansion will bring the company’s workforce to around 200 employees. The financial department, responsible for managing the company’s $118 billion in reserves, will also see the bolstering.

On October 25, the Wall Street Journal reported that U.S. authorities have launched an investigation into Tether, the leading issuer of stablecoin USDT. In response, Tether’s CEO Paolo Ardoino issued several remarks.

On October 25, a statue honoring Bitcoin's founder, Satoshi Nakamoto, was inaugurated in Lugano, Switzerland. The statue, crafted by Valentina Picozzi, was commissioned as part of Plan ₿—an initiative founded in partnership between Tether and the Lugano city government to foster BTC and blockchain adoption.

On October 18, Tether Gold (XAUT) and Pax Gold (PAXG), cryptocurrency tokens tied to the price of physical gold, reached historic highs. XAUT hit $2,715.92, according to Coingecko, while Paxos' gold-backed token peaked at $2,723.

Tether, the issuer behind the USDT stablecoin, has published a new report showcasing user statistics. The release comes shortly after the company debuted its documentary, “Stability and Freedom in Chaos: The Story of USD₮.”

Tether Holdings Ltd continues to roll out ambitious plans to broaden its influence. As a major player in the crypto market and the leading stablecoin issuer, the company is now shifting its focus towards traditional financial markets.

In response to the MiCA regulations that took effect in the EU on July 1, 2024, Tether has revealed it’s working on a game-changing solution, specifically created for the European market. This bold move comes as Coinbase sets strict deadlines for compliance, with rumors swirling about a possible delisting of USDT within the European Economic Area.

In an interview with Wired, Tether CEO Paolo Ardoino discussed the company’s plans to expand its venture investments, particularly in the AI sector.

Tether, the issuer of the USDT stablecoin, is set to invest another $1 billion over the next year in projects related to alternative financial infrastructure, artificial intelligence, and biotechnology.