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Tether
Tether’s Banking Relationships Detailed in Newly Released Legal Documents
CoinDesk recently obtained documents under a Freedom of Information Law request, which offer a rare but limited look into Tether’s banking relationships. CoinDesk Managing Editor of Global Policy and Regulation Nikhilesh De breaks down what the documents reveal about the stablecoin issuer's banking relationships and past reliance on commercial paper.
Tether’s Banking Relationships, Commercial Paper Exposure Detailed in Newly Released Legal Documents
Stablecoin issuer Tether kept its funds in four banks, two investment management firms, two gold depositories, and a gold broker and on its own sister company Bitfinex in March 2021, according to documents obtained by CoinDesk. It also had funds in commercial paper issued by various entities. CoinDesk obtained the documents after a nearly two-year legal battle after Tether filed to block the NYAG from releasing them. In a statement, Tether said it “found it suspicious” that USDT depegged after millions of dollars’ worth were sold on decentralized finance pools “on the same day” that the New York government shared the documents with CoinDesk. "The Hash" panel weighs in on the documents.
Tether’s Banking Relationships, Commercial Paper Exposure Detailed in Newly Released Legal Documents
Obtained by CoinDesk under a Freedom of Information Law request, the documents offer a rare but limited window into the reserves behind USDT, the crypto market’s largest stablecoin.
USDT Selling on Curve, Uniswap Spooks Traders Amid Bitcoin Drop
Millions worth of tether (USDT) stablecoins appeared to be selling off on popular Uniswap and Curve pools Thursday morning, sparking early signs of concern among traders. USDT, which usually trades around $1, lost its peg to the U.S. currency and dropped as low as $0.9968. CoinDesk's Jennifer Sanasie presents "The Chart of the Day."
El Salvador's Volcano Energy Secures $1B in Commitments for 241 MW Bitcoin Mine
Volcano Energy announced $1 billion in commitments to build a 241 megawatt (MW) bitcoin mine in the Metapán region of El Salvador, according to a Monday press release on Twitter. "The Hash" panel discusses stablecoin issuer Tether's investment in the project and the state of bitcoin mining around the world.
New Stablecoin Issuer Raft Is Eschewing Fiat for Its Financial Backing
Its R stablecoin is collateralized by one crypto asset: liquid staking leader Lido’s staked ether (stETH).
Tether Market Cap Climbs to All-Time High of $83.2B, Even as Stablecoin Market Sinks
USDT has reached a $83.2 billion market capitalization, recovering all the losses since the implosion of blockchain project Terra more than a year ago.
USDT Issuer Tether Ventures Into Payment Processing With Georgia Investment
The stablecoin issuer announced earlier this week it is investing in a sustainable bitcoin mining facility in Uruguay.
Bitcoin Mining Difficulty Poised To Set New All-Time High This Week
The bitcoin mining difficulty, a measure of how easily miners can discover a block of bitcoin, is set to surpass the 50T mark on Wednesday, setting a new all-time high. Meantime, stablecoin issuer Tether has invested in an energy production and sustainable bitcoin mining facility in Uruguay. "The Hash" panel discusses their outlook for the bitcoin mining community.
Stablecoin Issuer Tether Invests in Sustainable Bitcoin Mining in Uruguay
The company earlier this month announced plans to invest part of its profits in BTC purchases and infrastructure.
