Tether Invests $3 Million in Kem App to Boost USDT Usage in the Middle East

August 14, 2024 Bitcoin.com

Tether Invests Million in Kem App to Boost USDT Usage in the Middle East

Bahrain

Stablecoin issuer Tether has announced a $3 million strategic investment in the Kem app, a platform for money transfers and financial management. This collaboration aims to introduce USDT on Kem’s platform, promoting widespread adoption in the Middle East and enhancing financial inclusion. The investment is expected to improve economic conditions in countries like Kuwait, Bahrain, […]

Wall Street Giant Engages Tether on Pivotal Bitcoin Lending Plan

New Crypto Scam Using QR Codes To Deceive Users Into Authorizing Wallets Spreads: Bitrace

August 12, 2024 The Daily Hodl

Bitrace

A new crypto scam utilizing QR codes to trick users into authorizing wallets is spreading, according to crypto data analytics firm Bitrace. In a lengthy thread on the social media platform X, Bitrace says that the new crypto scam is deceiving traders by enticing them with alluring over-the-counter trades and rewards in the native asset […]

The post New Crypto Scam Using QR Codes To Deceive Users Into Authorizing Wallets Spreads: Bitrace appeared first on The Daily Hodl.

Wall Street Giant Engages Tether on Pivotal Bitcoin Lending Plan

Celsius Asks Stablecoin Issuer Tether To Hand Over $3,350,000,000 Worth of Bitcoin in New Lawsuit

August 12, 2024 The Daily Hodl

Bitcoin

Defunct crypto lending platform Celsius Network is taking legal action to recover billions of dollars worth of Bitcoin (BTC) that it previously transferred to USDT issuer Tether. In a new complaint filed with the Southern District of New York, Celsius says it is seeking the return of 39,542.42 BTC worth $2.31 billion that were transferred […]

The post Celsius Asks Stablecoin Issuer Tether To Hand Over $3,350,000,000 Worth of Bitcoin in New Lawsuit appeared first on The Daily Hodl.

Wall Street Giant Engages Tether on Pivotal Bitcoin Lending Plan

Tether Slams Celsius Network’s ‘Baseless’ $2 Billion Lawsuit

August 12, 2024 Bitcoin.com

Tether Slams Celsius Network’s ‘Baseless’ Billion Lawsuit

Bankruptcy Code

Stablecoin issuer Tether has slammed the”baseless” claims that it illegally liquidated Celsius Network’s bitcoin collateral. Tether accused the crypto lender of trying to “improperly impose the costs of Celsius’ mismanagement and failure on Tether.” Shameless Litigation Stablecoin issuer Tether Holdings Ltd. has rejected the “baseless” claims by the bankrupt crypto lender Celsius Network that the […]

Wall Street Giant Engages Tether on Pivotal Bitcoin Lending Plan

Tether Partners With Crypto Firm to Boost Blockchain Education in South Africa

August 11, 2024 Bitcoin.com

Africa

Stablecoin issuer Tether Holdings Ltd. recently announced a partnership with a crypto payments provider to advance blockchain education in South Africa. The collaboration aims to both demonstrate the benefits of stablecoin payments and build trust in digital financial solutions. Building Trust in Digital Financial Solutions Stablecoin issuer Tether Holdings Ltd. partnered with Xion Global to […]

Wall Street Giant Engages Tether on Pivotal Bitcoin Lending Plan

Speed Launches USDT-L, Tether’s First Iteration on Top of Bitcoin’s Lightning Network

August 11, 2024 Bitcoin.com

Bitcoin (BTC)

Speed, the company behind the Speed Wallet, has launched USDT-L, the first iteration of Tether, the largest stablecoin on the crypto market, on top of Bitcoin’s Lightning Network (LN). The wrapped token, which takes advantage of the “taproot assets” protocol recently rolled out by Lightning Labs, seeks to bring all the benefits of LN to […]

Wall Street Giant Engages Tether on Pivotal Bitcoin Lending Plan

Nigerian activist receives local support in legal fight to use crypto

August 10, 2024 Coin Telegraph

Bitcoin

This lawsuit comes amid the Nigerian government’s increasingly hostile stance toward cryptocurrencies.

Nigerian crypto activist and politician James Otudor has received support from the local cryptocurrency community in his legal battle to secure the right to own, use and trade Bitcoin, Tether and other cryptocurrencies in Nigeria.

Speaking to Cointelegraph, Otudor shared that while moral support has been overwhelming, his team is not ready to accept financial contributions until systems ensuring transparency are in place. This precaution aims to prevent any potential propaganda from adversaries that could undermine the cause.

A court session on Aug. 9 was primarily an introduction to the case. Otudor highlighted that the Nigerian government’s confusion regarding crypto assets and blockchain technology significantly motivated the lawsuit.

Wall Street Giant Engages Tether on Pivotal Bitcoin Lending Plan

Indian Crypto Exchange WazirX To Roll Back All Trades and Restore Balances Following $230,000,000 Hack in July

August 10, 2024 The Daily Hodl

crypto

Indian crypto exchange WazirX is reversing all trades and restoring customer balances after the platform was hacked to the tune of hundreds of millions of dollars in July. In a new thread on the social media platform X, WazirX says that after listening to the community, it has decided to roll back all trades made […]

The post Indian Crypto Exchange WazirX To Roll Back All Trades and Restore Balances Following $230,000,000 Hack in July appeared first on The Daily Hodl.

Wall Street Giant Engages Tether on Pivotal Bitcoin Lending Plan

Celsius sues Tether seeking $3.5B over Bitcoin collateral selloff

August 10, 2024 Coin Telegraph

Celsius sues Tether seeking .5B over Bitcoin collateral selloff

Bankruptcy

The assets in question were evidently given to Tether as collateral.

Defunct cryptocurrency exchange Celsius has filed a lawsuit against Tether alleging misappropriation of assets and seeking approximately $3.5 billion in BTC returns, damages, and legal fees.

Up front: Tether reports that Celsius, in its lawsuit, seeks the return of approximately $2.4 billion worth of BTC. However, publicly available court documents show that Celsius has asked the court for relief in the amount of 57,428.64 BTC or its current market dollar equivalent, plus damages and legal fees.

The lawsuit alleges that, during Celsius’ bankruptcy proceedings, Tether loaned it a specific amount of USDT (the company’s stablecoin, a cryptocurrency backed by the US dollar). In return for this loan, Celsius sent Tether 39,542.42 BTC in collateral.

Wall Street Giant Engages Tether on Pivotal Bitcoin Lending Plan

MiCA regulation poses ‘systemic risk’ to banking system, says Tether CEO

August 9, 2024 Coin Telegraph

bitcoin regulation

According to Tether CEO Paolo Ardoino, recently approved MiCA regulations threaten both banks and stablecoin issuers.

Tether CEO Paolo Ardoino has raised concerns that the European Union’s Markets in Crypto-Assets (MiCA) regulation poses a systemic risk not only to stablecoins but also to the broader banking system.

“The problem that I have with MiCA is that instead of making the system more secure, it’s actually creating an incredibly big systemic risk,” Ardoino told Cointelegraph in an exclusive interview.

The MiCA regulation, which took effect on June 30, imposes stringent limitations on stablecoin operations across the European Economic Area. Notably, it mandates that at least 60% of reserves backing stablecoins must be held in EU bank accounts.

Tether

Share this video