Tether (USDT) | ForkLog

ForkLog 46 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 21 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 61 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 25 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 20 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 34 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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ForkLog 51 19.04.2024

Telegram’s Wallet Introduces USDT Transactions on TON

The Wallet integrated into the Telegram messenger has launched USDT transactions based on The Open Network (TON). This was announced by TON CEO Andrey Rogozov during the Token2049 conference in Dubai. No fees are charged for USDT operations on TON within Telegram. Additionally, users can instantly send assets to their contacts in the messenger without […]

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ForkLog 39 19.04.2024

Telegram to Reward Content Creators with Toncoin

Telegram is set to reward content creators and enable cryptocurrency purchases for goods. This announcement was made by the messaging app’s founder, Pavel Durov, during the Token2049 conference in Dubai. According to Durov, starting next week, the company will allow tipping in cryptocurrency based on the TON blockchain. Content creators will receive up to 70% […]

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ForkLog 46 19.04.2024

Tether Expands USDT Support to TON Network

The issuer of the stablecoin USDT, Tether, has extended its support to the blockchain The Open Network (TON). This information appeared on the company’s website. Data: Tether. According to the information, liquidity of $10 million has been added. Over the past day, TON has risen by 18.2%, according to CoinGecko. At the time of writing, […]

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ForkLog 22 18.04.2024

Tether Diversifies Beyond Stablecoins with Corporate Restructuring

Tether, the issuer of USDT, has announced a corporate restructuring into four divisions, aiming to expand beyond stablecoins. Introducing the new era of Tether! Beyond #stablecoins, we’re redefining finance with Tether finance ?, powering change with Tether power ?, enlightening minds with Tether edu ?, and innovating data with Tether data ?. Tether, unstoppable together? […]

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ForkLog 17 16.04.2024

Plans to Reduce Fees in TON Blockchain Revealed

Developers of The Open Network (TON) blockchain are planning to reduce transaction costs for users and allow fees to be paid directly in Tether’s stablecoin, USDT, in a new contract. This was reported by the Telegram channel DeCenter. This information has not been published in TON’s official channels. However, the project’s roadmap announces the addition […]

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ForkLog 15 01.04.2024

Tether Completes Independent Security Audit

Tether, the issuer of the USDT stablecoin, announced the successful completion of a System and Organization Controls 2 (SOC 2) Type I audit. Tether Announces Completion of System Organization Control (SOC) 2 Type 1 Audithttps://t.co/jIbrdx30wh — Tether (@Tether_to) April 1, 2024 SOC 2 is an independent audit, control, and reporting system developed by the AICPA. […]

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