1. Home
  2. Tether

Tether

Stablecoin Economy Swells by $1.53B in 3 Days Amid Market Rebound

Stablecoin Economy Swells by .53B in 3 Days Amid Market ReboundWith a 5% upswing in the crypto economy over the past day, following a broad market recovery, the stablecoin economy has ballooned by $1.53 billion in just three days. A notable $750 million of that growth occurred within the last 24 hours alone. Tether’s $1.26B Growth Fuels Stablecoin Expansion Not long ago, the crypto market […]

SEC Push Against Elon Musk Stalls as Judge Denies Sanctions

Analyst Willy Woo Says About Half of US Government’s Over $12,000,000,000 Stash Will Be Returned to Bitfinex

Analyst Willy Woo Says About Half of US Government’s Over ,000,000,000 Stash Will Be Returned to Bitfinex

A popular on-chain analyst thinks the US government will eventually return nearly 100,000 seized Bitcoin (BTC) to their rightful owners. Late last month, former President Donald Trump said in the Bitcoin2024 Conference that his administration will keep “100% of all the Bitcoin the US government currently holds or acquires into the future.” But analyst Willy […]

The post Analyst Willy Woo Says About Half of US Government’s Over $12,000,000,000 Stash Will Be Returned to Bitfinex appeared first on The Daily Hodl.

SEC Push Against Elon Musk Stalls as Judge Denies Sanctions

Crypto Biz: Stablecoins wave, crypto trading via UAE banks, and more

This week’s Crypto Biz explores Tether’s profit record, bank-linked crypto trading in the United Arab Emirates, Polymarket’s growth amid US elections, and Coinbase custodian arm.

Stablecoins continue to meet the significant global demand, specially in emerging economies. According to a new analysis from BVNK and the Centre for Economics and Business Research, businesses and consumers in 17 countries are willing to pay an average premium of 4.7% to access stablecoins pegged to the US dollar. The figure rises to 30% in Argentina. 

By 2027, these countries are expected to spend $25.4 billion in premiums alone for stablecoin access. The report also sheds light on the inefficiencies of current cross-border payment systems, currently trapping $11.6 billion in working capital due to settlement delays. Stablecoins are expected to facilitate $2.8 trillion in cross-border payments by the end of this year.

Circle’s USD Coin (USDC) stablecoin reportedly saw a surge in trading volume in July, spurred by compliance with new European regulations. Meanwhile, Tether’s USDT (USDT) still holds a large chunk of stablecoins’ market share, with 70% of their $164 billion global market capitalization.

Read more

SEC Push Against Elon Musk Stalls as Judge Denies Sanctions

Stablecoin Market Cap Rises in July for 10th Consecutive Month, Hitting Highest Point Since April 2022: CCData

Stablecoin Market Cap Rises in July for 10th Consecutive Month, Hitting Highest Point Since April 2022: CCData

Stablecoins are on the rise, according to a crypto data firm. The platform CCData notes in a new report that stablecoin market cap rose 2.11% last month, the 10th consecutive end-of-month market cap increase for the sector. “This is the highest monthly rise in the stablecoins market capitalization since April, suggesting inflows of new capital […]

The post Stablecoin Market Cap Rises in July for 10th Consecutive Month, Hitting Highest Point Since April 2022: CCData appeared first on The Daily Hodl.

SEC Push Against Elon Musk Stalls as Judge Denies Sanctions

Tether Posts $5.2 Billion Profit in First Half of 2024

Tether Posts .2 Billion Profit in First Half of 2024Tether Holdings Limited reported a record-breaking net profit of $5.2 billion for the first half of 2024, according to its latest assurance opinion for the second quarter. The report, conducted by BDO, highlighted Tether’s increased exposure to U.S. Treasury bills and a significant rise in group equity. Tether Reveals Mid-Year Financials The largest stablecoin issuer […]

SEC Push Against Elon Musk Stalls as Judge Denies Sanctions

Tether reports record-breaking $5.2B profit in first half of 2024

Tether said its US Treasury reserve surpasses the size of all but 17 of the world’s governments.

According to a July 31 announcement, Tether, manager of the dollar-pegged USDT (USDT) stablecoin, reported record-breaking profits of $5.2 billion in the first half of 2024 and a larger-than-ever stockpile of United States government bonds. 

Tether’s US Treasury portfolio is now worth approximately $97.6 billion, the company said. The growth in the company’s Treasury holdings reflects the ongoing proliferation of Tether (USDT) stablecoins, which Tether says are backed 1:1 with liquid US dollar-denominated assets. The figures are based on an attestation by BDO, an independent accounting firm.

The total market capitalization of USDT stands at some $114 billion, according to Binance, slightly less than Tether’s total reserves, which exceed $118 billion, Tether said. 

Read more

SEC Push Against Elon Musk Stalls as Judge Denies Sanctions

Stablecoin Market Expands by $1.52 Billion in 7 Days, Driven by USDT and USDC Growth

Stablecoin Market Expands by .52 Billion in 7 Days, Driven by USDT and USDC GrowthThe stablecoin economy is experiencing renewed growth. Over the past week, the market capitalization of all stablecoins increased by $1.52 billion. The growth over the past seven days was primarily driven by tether (USDT), the largest stablecoin by market valuation, with its supply expanding by 1.2 billion coins. Stablecoin Economy Sees Growth Again Over the […]

SEC Push Against Elon Musk Stalls as Judge Denies Sanctions

Crypto Analyst Justin Bennett Says Bitcoin (BTC) Primed for a Short-Term Rally – Here Are His Targets

Crypto Analyst Justin Bennett Says Bitcoin (BTC) Primed for a Short-Term Rally – Here Are His Targets

A widely followed crypto analyst says that Bitcoin (BTC) is gearing up to skyrocket in the short term. In a new strategy session, crypto trader Justin Bennett tells his 111,100 followers on the social media platform X that the crypto king could find itself near the $67,000 level if the dominance level of stablecoin Tether […]

The post Crypto Analyst Justin Bennett Says Bitcoin (BTC) Primed for a Short-Term Rally – Here Are His Targets appeared first on The Daily Hodl.

SEC Push Against Elon Musk Stalls as Judge Denies Sanctions