Tether’s Investment Arm Announces Completion of Funding for Middle Eastern Crude Oil Trade

November 8, 2024 The Daily Hodl

Blockchain

Tether’s Investment division is announcing the financing of a $45 million physical crude oil transaction between a major oil company and a commodity trader. In a new announcement, the USDT-stablecoin issuer says that this transaction is Tether Investments’ first crude oil transaction in the Middle Eastern region, marking Tether’s expanding role in global commodities trading. […]

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Ripple Legal Chief Offers SEC Advice on Reforming Crypto Rules Under New Leadership

Tether swaps more than 2 billion USDT to the Ethereum network

November 7, 2024 Coin Telegraph

Coin Telegraph

The vast majority of Tether's USDT volume exists on the Tron network due to comparatively lower fees and faster transaction finality.

Stablecoin issuer Tether announced it was conducting a large cross-chain swap of more than 2 billion Tether-USD (USDT) from various blockchain networks to the Ethereum network on November 6, 2024.

According to Tether, 1 billion USDT will be swapped from the Tron network, 600 million USDT will be transferred from the Avalanche C-Chain, an additional 300 million USDT from the NEAR protocol will also make its way to the Ethereum network, and, finally, 60 million USDT from the EOS network will also be swapped to Ethereum.

The stablecoin firm explained that the cross-chain swap was performed on behalf of a large, unnamed exchange wishing to transfer their USDT holdings from various cold wallets to the Ethereum blockchain.

Ripple Legal Chief Offers SEC Advice on Reforming Crypto Rules Under New Leadership

3 reasons why Bitcoin price bottom could have been $67.3K

November 4, 2024 Coin Telegraph

3 reasons why Bitcoin price bottom could have been .3K

Bullish

Data suggests traders are ignoring the current Bitcoin price correction and betting for new highs after the US elections wrap up.

Bitcoin (BTC) fell 6.7% between Oct. 31 and Nov. 4, breaking below the $67,500 mark for the first time in eight days. This decline led to the liquidation of over $190 million in leveraged long positions and coincided with uncertainty surrounding the Nov. 5 US presidential elections.

Despite this short-term bearish momentum, three Bitcoin derivatives metrics show that the market is not panicking. These positive indicators include the long-to-short ratio of top traders on exchanges, aggregate BTC futures open interest, and stablecoin demand in China.

Exchanges top traders long-to-short ratio. Source: Coinglass

Ripple Legal Chief Offers SEC Advice on Reforming Crypto Rules Under New Leadership

Police Syndicate Accused of Extorting 10,000,000 USDT From Man Using Fake Search Warrant: Report

November 4, 2024 The Daily Hodl

Daily Hodl

Thai law enforcement has reportedly arrested seven police officers and one civilian accused of staging a false domestic search that involved the attempted extortion of 10 million USDT from a victim. Local publication QQ reports that the group targeted a Chinese national by swarming his residence and flashing what appeared to be a real search […]

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Ripple Legal Chief Offers SEC Advice on Reforming Crypto Rules Under New Leadership

Stablecoin Issuer Tether’s USDT Potentially Seeing Rise in Adoption in Sanctioned Countries: Report

November 3, 2024 The Daily Hodl

Africa

The world’s largest stablecoin by market cap is reportedly potentially seeing a rise in adoption amongst sanctioned nations. Citing data from market intelligence platform Chainalysis, Bloomberg reports that stablecoin issuer Tether’s USDT is seeing increased usage at time zones correlated with major cities in Eastern Europe, the Middle East and Africa, including sanctioned nations such […]

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Ripple Legal Chief Offers SEC Advice on Reforming Crypto Rules Under New Leadership

Stablecoin Market Grew by $555 Million in October – Which Tokens Are Leading the Pack?

November 2, 2024 Bitcoin.com

Stablecoin Market Grew by 5 Million in October – Which Tokens Are Leading the Pack?

Altcoins

According to the latest data, the stablecoin economy now holds a value of $172.892 billion, with October adding $555 million to the fiat-pegged token market. Stablecoin Market Continues to Climb Last month saw stablecoins grow modestly, with the market inching up 0.32% from $172.337 billion to $172.892 billion. Leading the pack, tether (USDT) now boasts […]

Ripple Legal Chief Offers SEC Advice on Reforming Crypto Rules Under New Leadership

Inside Tether’s $14.2B Equity Peak—Key Takeaways From the Q3 Attestation

November 1, 2024 Bitcoin.com

Inside Tether’s .2B Equity Peak—Key Takeaways From the Q3 Attestation

bitcoin.com

Tether’s third-quarter attestation for 2024, led by auditor BDO, highlights record profit levels, reserve expansion, and substantial U.S. Treasury holdings. Tether’s Q3 Performance Ranks Among Top U.S. Treasury Holders In its latest attestation, Tether Holdings Limited reports a third-quarter net profit of $2.5 billion, pushing its nine-month consolidated profit to $7.7 billion. The report, prepared […]

Ripple Legal Chief Offers SEC Advice on Reforming Crypto Rules Under New Leadership

Circle raises USDC cash-out fees, affecting large-scale redemptions

October 29, 2024 Coin Telegraph

Circle

The fee structure revision primarily affects institutional investors and high-volume traders.

Stablecoin issuer Circle has raised its fees for redeeming its USD Coin (USDC) for the second time in less than a year.

According to an Oct. 29 Bloomberg report, since September, the company has been collecting fees on daily redemptions of at least $2 million.

In February, Circle introduced swap charges for redemptions above $15 million through its Circle Mint platform.

Ripple Legal Chief Offers SEC Advice on Reforming Crypto Rules Under New Leadership

Tether CEO Paolo Ardoino Says Stablecoin Issuer Now Holds Over $5,800,000,000 in Bitcoin Reserves

October 29, 2024 The Daily Hodl

Bitcoin

Tether chief executive Paolo Ardoino is updating the quantity of Bitcoin (BTC) and other assets that the stablecoin issuer currently holds on its balance sheet. In a post on the social media platform X, Ardoino says Tether now holds over 82,000 Bitcoin, a stash worth approximately $5.8 billion at the prevailing BTC price. The stablecoin […]

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Ripple Legal Chief Offers SEC Advice on Reforming Crypto Rules Under New Leadership

Tether and Coinbase Unveil Tools for Private AI and Autonomous Blockchain Agents

October 28, 2024 Bitcoin.com

Tether and Coinbase are diving deep into artificial intelligence (AI), each unveiling new tech designed to bring enhanced privacy and onchain autonomy to the blockchain world. Blockchain and AI Tools In separate announcements this week, Tether and Coinbase revealed AI-driven products poised to reshape how developers and users engage with blockchain technology. Tether’s CEO Paolo […]

Tether

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