A closely followed crypto analyst says one key metric indicates Bitcoin (BTC) may have a hard time breaking out anytime soon. In a new thread, crypto trader Justin Bennett tells his 115,800 followers on the social media platform X that the Tether dominance chart (USDT.D) is flashing bearish for Bitcoin. Many traders closely watch the […]
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A stablecoin firm backed by veteran investor Peter Thiel is raking in tens of millions of dollars worth of funds during a recent fundraising event. In a new thread on the social media platform X, Plasma – a company designing a Bitcoin (BTC)-based blockchain specifically tailored for stablecoins – says it has raised $24 million […]
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The firm behind the biggest US dollar-pegged stablecoin by market cap is throwing its considerable weight behind a new multichain custody wallet. According to a new announcement from USDT-issuer Tether, the stablecoin behemoth is investing in the self-custodial crypto wallet Zengo. Says Tether CEO Paolo Ardoino of the investment, “Tether is committed to delivering reliable […]
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The chief executive of stablecoin issuer Tether (USDT) says that quantum computing will allow hackers to steal Bitcoin (BTC) from lost wallets. In a new thread on the social media platform X, Tether CEO Paolo Ardoino predicts that while active crypto users may move their funds to quantum-resistant wallets, those who have abandoned or lost […]
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A closely followed crypto analyst is warning that the crypto market may not be done correcting based on one key metric. In a new thread on the social media platform X, crypto trader Justin Bennett tells his 115,900 followers that the Tether dominance chart (USDT.D) is flashing bearish for Bitcoin (BTC) and other digital assets. […]
The post Analyst Justin Bennett Says Crypto Market at Pivotal Levels, Warns Caution Is Needed – Here’s His Outlook appeared first on The Daily Hodl.
An independent audit reveals that stablecoin issuer Tether (USDT) had billions of dollars of excess reserves at the end of last year. According to a recent audit by accounting firm BDO Global, Tether has $143.7 billion worth of reserves and about $136.613 billion worth of liabilities, bringing it to a surplus of about $7 billion. […]
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The growing popularity of stablecoins has seen the market cap hit a new high with USDT continuing to dominate the stablecoin market. New Market Cap High for Stablecoins The overall market capitalization of stablecoins across all networks hit $212.99 billion, setting a new record. This is according to data from Defillama, a decentralized finance total […]
The Indian crypto exchange WazirX says it has frozen $3 million worth of the stablecoin USDT connected to the massive $230 million hack on its platform last year. WazirX says the freeze represents an “important milestone” in recovering user assets. “Why This Matters: » Rapid Action: Freezing the funds stops them from being moved and […]
The post Crypto Exchange WazirX Freezes $3,000,000 Worth of USDT Related to Last Year’s Massive $230,000,000 Hack appeared first on The Daily Hodl.
The stablecoin market, which is dominated by Tether and Circle, is worth more than $214 billion.
Layer-1 stablecoin payments network 1Money has raised more than $20 million in seed funding to further develop its digital payments infrastructure.
According to a Jan. 16 announcement, more than two dozen venture capital firms participated in the seed round, including F-Prime Capital, Galaxy Ventures, Hack VC, Tribe Capital, Kraken Ventures, KuCoin Ventures, BitGo Ventures, Bankless Ventures, MoonPay Ventures, Portage and Ethereal Ventures.
1Money said its protocol is developed solely for stablecoin payments using a patent-pending Byzantine consistent broadcast design.
USDC’s massive growth in 2024 marked the stablecoin’s steady recovery following a 45% market cap drop associated with the Silicon Valley Bank collapse in 2023.
Circle’s USD Coin stablecoin outpaced all other stablecoins in terms of market capitalization growth in 2024, after a decline in 2023.
The circulation of USD Coin (USDC) grew 78% year-over-year, outpacing the growth rate of all global stablecoins, Circle said in its third annual State of the USDC Economy Report released on Jan. 14.
“The growth of USDC in 2024 can be attributed to a combination of factors: the maturing regulatory clarity across major markets, the scalability of blockchain infrastructure, and our relentless focus on trust, transparency and utility,” a spokesperson for Circle told Cointelegraph.
