Australian crypto exchange OTCPro mistakenly sent $653,000 instead of the intended $65,300 to a corporate account belonging to Kow Seng Chai. Mr. Chai quickly withdrew the funds using the Tether (USDT) stablecoin. When the mistake was discovered, attempts to contact him were ignored, and the phone number provided turned out to be incorrect.
In a low-key yet significant move, Tether, the company behind USDT stablecoin, added 8,888.88 BTC (approximately $380 million) to its reserves in the previous quarter. This acquisition increased its Bitcoin stash to a hefty 66,465 BTC, valued at $2.8 billion, adhering to its policy of monthly Bitcoin purchases since September 2022.
Tether, the cryptocurrency company, has announced a strategic partnership with the decentralized bridge, rhino.fi, aimed at boosting and improving user engagement with the USDT stablecoin. This move signifies the company's intention to broaden the reach and utility of tokens across various blockchain platforms.
Paolo Ardoino, the CEO of Tether (the issuer of USDT), reflected on the company's recent performance and shared his future plans.
Tether has frozen nearly 161 Ethereum wallets, with only 11 holding USDT.
Wintermute, an algorithmic trading firm in digital assets, accuses NEAR Foundation and Aurora of failing to uphold their agreement involving the conversion of $11 million worth of the now-defunct USN stablecoin to USDT. These tokens originated from the now-defunct FTX exchange and were acquired by Wintermute in exchange for fiat currency with the assurance of a complete conversion.
Coinbase, the American cryptocurrency exchange, has made the decision to delist 80 trading pairs that are not tied to the US dollar (including USDT) in an effort to enhance liquidity on its platform.
Tether, the company behind the USDT stablecoin, has announced the freezing of 32 addresses, totaling $873,000, linked to terrorism and military actions in Israel and Ukraine.
JPMorgan bank analysts suggest that the US Department of Treasury's Office of Foreign Assets Control (OFAC) may wield certain influence over Tether, the issuer of the USDT stablecoin. For example, it could enforce compliance with sanctions and restrictions regarding various projects, individuals, and nations.
Howard Lutnick, the CEO of financial company Cantor Fitzgerald, has come out in support of Tether (the issuer of the USDT stablecoin) amidst various allegations of money laundering and insufficient backing. He highlighted his firsthand experience with the company, overseeing some of their assets.
The cryptocurrency company Tether has been highlighted in a recent UN report on crime, due to the prevalent use of its stablecoin, USDT, in money laundering and fraudulent activities, particularly in Southeast Asia. The token is notably being used in sham investment schemes promising high returns.
In line with its updated policy, the issuer of the USDT stablecoin is intensively freezing cryptocurrency wallets.
S&P Global has launched a stablecoin stability assessment. This system considers several factors including the underlying technology, governance, legal and regulatory framework, liquidity, and third-party dependencies among others.
Tether, the issuer of stablecoins, has minted 4 billion USDT in the last 30 days, accounting for nearly 18% of all USDT issued in 2023.
On Wednesday, U.S. lawmakers introduced a bill that prohibits federal government officials from engaging with Chinese blockchain companies, reflecting the U.S. government’s ongoing concerns regarding Chinese involvement in the cryptocurrency sector.
Starting from October 17th, Uniswap Labs will implement a 0.15% fee on swaps conducted via their web app and wallet. This fee applies to ETH, USDC, WETH, USDT, DAI, WBTC, agEUR, GUSD, LUSD, EUROC, and XSGD.
According to Israeli intelligence agencies, stablecoins such as USDT, USDC, and USDD on the Tron network have emerged as the important conduit for channeling funds to terrorist organizations like Hamas, ISIS, and Hezbollah.
