Tether (USDT) | ForkLog

ForkLog 14 14.05.2024

Ripple CEO Denies Attacking Tether

Ripple CEO Brad Garlinghouse clarified that his recent comments on the World Class podcast were not an attack on USDT, contrary to how Paolo Ardoino, the head of the stablecoin issuer, portrayed them. I wasn’t attacking Tether…the next words out of my mouth during the podcast were that I view Tether as a hugely important […]

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ForkLog 15 13.05.2024

AvanChange Celebrates Tether’s Launch on TON with 1000 USDT Giveaway

The cryptocurrency exchange AvanChange has introduced support for the stablecoin Tether (USDT) on The Open Network (TON) blockchain and announced a giveaway of 1000 USDT to mark the occasion. To participate, users must register on AvanChange and complete tasks on the promotion page. Organizers will distribute tickets to users and conduct a draw among ticket […]

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ForkLog 9 13.05.2024

Ripple CEO Suggests US Authorities Targeting Tether

The US government is closely monitoring Tether’s activities, with potential regulatory measures that could significantly impact the industry, according to Ripple CEO Brad Garlinghouse. “The US government is going to pursue Tether. This is obvious to me. I view USDT as a very important part of the ecosystem and do not know what impact this […]

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ForkLog 27 10.05.2024

Deutsche Bank Highlights Stablecoin Risks; Tether Responds with Criticism

Analysts at Deutsche Bank Research have suggested that most stablecoins are doomed to lose their peg and disappear. The experts examined 334 pegged currencies since 1800 and found that 49% of such assets failed, with an average lifespan of eight to ten years. The main reasons for these failures were macroeconomic vulnerability, speculation, and governance […]

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ForkLog 68 06.05.2024

Cartier Heir Accused of Laundering Drug Cartel Money via USDT

The Southern District of New York’s prosecutor charged a member of the Cartier family and five Colombian nationals with laundering drug trafficking proceeds through the stablecoin USDT. Authorities allege the individuals were part of a money laundering network operating in the US and Colombia, utilizing a system of brokers and shell companies in their illicit […]

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ForkLog 29 03.05.2024

Tether and Chainalysis to Develop Secondary Market Monitoring Solution

Tether, the issuer of USDT, and security firm Chainalysis have entered into a partnership to create a system for tracking activity in the secondary market. According to the press release, this pertains to “transactions occurring within the broader USDT ecosystem beyond the limited liability organizations that directly buy and sell the stablecoin.” “The solution allows […]

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ForkLog 48 01.05.2024

Tether’s Q1 Net Profit Reaches a Record $4.5 Billion

The company behind the USDT stablecoin, Tether, reported a record net profit of $4.52 billion for the January-March period. According to the report, the issuer earned approximately $1 billion from operating profit, primarily as interest income from U.S. Treasury bills. Direct investments in these instruments exceeded $74.2 billion, with a total of $92.7 billion when […]

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ForkLog 23 30.04.2024

US Senators Voice Concerns Over USDT’s Role in Sanctions Evasion

On April 28, US Senators Elizabeth Warren and Roger Marshall sent a letter to the Treasury, the Department of Defense, and the White House, expressing concerns about the use of cryptocurrencies to evade sanctions. This was reported by the Wall Street Journal. The authors posed several specific questions regarding USDT transactions conducted by Russia, Iran, […]

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ForkLog 68 29.04.2024

USDC Surpasses USDT in Monthly Transactions

The stablecoin USDC has overtaken the segment leader, Tether’s USDT, in the number of monthly transactions, analysts at Visa have observed. According to their data, in April 2024, there were 166.6 million transactions in USDC compared to 163.6 million in USDT. The stablecoin from the Centre consortium first pulled ahead in December 2023, with 145 […]

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ForkLog 28 25.04.2024

US Congressional Initiatives Could Undermine Tether’s Dominance, Says S&P

A bill introduced in Congress regarding payment stablecoins could undermine Tether’s dominance, according to Standard & Poor’s, reports The Block. The document prohibits unsecured algorithmic “stablecoins” and introduces anti-money laundering mechanisms. The bill requires issuing firms to establish reserves of cash and equivalents in a one-to-one ratio to back the tokens. Experts believe its adoption […]

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ForkLog 22 24.04.2024

Tether to Block Payments Evading Sanctions

Tether has announced its intention to block wallets of organizations and individuals holding USDT that are under U.S. Treasury sanctions, according to Cointelegraph. Any payments directed to these entities will be frozen. A Tether representative emphasized the company’s ongoing commitment to halting transactions to addresses listed on the SDN list by the OFAC, aiming for […]

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ForkLog 40 23.04.2024

Venezuelan Oil Firm Embraces USDT Amid Sanctions

Venezuela’s state oil company, PDVSA, is set to increase its use of the stablecoin USDT for exporting crude oil and fuel oil due to tightened US sanctions. This development was reported by Reuters, citing sources. According to these sources, the transition began last year, aiming to reduce the risk of the state company’s oil sales […]

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