Tether says it has no exposure to Genesis Global or Gemini Earn. The stablecoin operator said the reliability of its reserves is important to highlight “at a time like this.” Tether has historically had issues with transparency. Tether issued a short statement on Nov. 16 saying that it has no exposure to institutional crypto lender Genesis Global or the Gemini Earn program after the announcement that Genesis Global and the Gemini exchange were freezing withdrawals. Genesis Global is the lending partner for interest-bearing Gemini Earn. Eager to differentiate itself from contagion-stricken crypto organizations, Tether said: “It is important at a time like this to highlight that these [Tether’s] reserves have proved tried and true demonstrating consistent resilience during the black swan events that have characterized the market this past year.”
May 12, 2022
Tether continues to process redemptions normally amid some expected market panic following yesterday’s market. In spite of that, Tether has not and will not refuse redemptions to any of its customers, which has always been its practice. With fear, uncertainty and doubt at levels reminiscent of the 2018 Bitcoin market crash, Ardoino offered perspective given the technical differences between USDT and algorithmic stablecoins: Unlike these algorithmic stablecoins, Tether holds a strong, conservative, and liquid portfolio that consists of cash & cash equivalents, such as short-term treasury bills, money market funds, and commercial paper holdings from A-2 and above rated issuers.
September 9, 2021
Tether (USDT), the leading stablecoin by volume, processed $10.51 billion worth of transactions on Tuesday compared to $4.02 billion on Monday. Similarly, the second-largest stablecoin USD Coin (USDC), backed by Circle, reported $5.728 billion worth of transfers on Tuesday versus $3.27 billion in the previous session, logging a 74% spike. At the same time, the net stablecoin supply in circulation remained relatively idle, around $67 billion, showcasing adequate liquidity against demand even in the face of a brutal crypto market decline. As a result, many top stablecoins maintained their one-to-on dollar peg despite logging minor price drifts.
June 29, 2021
The US Federal Reserve has called the stablecoin Tether (USDT) a "challenge" for financial stability. Tether (USDT) threatens the stability of the financial system, Boston Federal Reserve Bank President Erin Rosengren said. Stablecoin portfolios essentially look like the main money market fund portfolios, but they may be more risky. Tether has many assets, the spread for which became wide enough during the pandemic, he explained. In this case, widening the spread means an increase in the gap in profitability between risky assets, such as corporate bonds, and safer ones, for example, government bonds.
June 28, 2021
Tether first provided details of the distribution of USDT-backing assets in May, ttrcoin writes. As it turned out, almost half of its reserves are in commercial paper. Wall Street officials later said they were unaware of the presence of such a large investor in the market. According to Rosengren, the currently virtually unregulated stablecoin market is becoming an increasingly important sector of the economy as it grows. Stablecoins are one element that can disrupt short-term credit markets, and serious consideration should be given to what happens when people run out of these instruments.
June 22, 2021
The Tether (USDT) stablecoin supply has not changed since the beginning of this month: from June 1 to June 17, the volume of USDT tokens in circulation was $ 64.25 billion. The lack of growth suggests that Tether is not receiving new receipts from customers interested in issuing additional stablecoins. The company's CTO Paolo Ardoino explained in an interview with The Block that the need for a new issue has disappeared after a significant decline in recent weeks - open interest in the Bitcoin futures market. Ardoino claims that Tether USD continues to attract customers. However, the company did not make major stablecoin issues for a month.
April 14, 2021
Stablecoin issuer Tether today announced that its token has reached $ 45 billion in circulating volume. At the beginning of the year, the value was $ 20 billion, which USDT reached over its six-year history. The acceleration of growth in the capitalization of stablecoins is associated with an increased demand for tools for transferring traditional currency to the cryptocurrency market.
December 8, 2020
Crypto market participants fear that the outgoing Trump administration could finally tighten regulation of cryptocurrencies. However, in this context, we are constantly in uncharted territory. Democrats also do not guarantee a positive attitude towards Bitcoin and other cryptocurrencies. We can definitely say that judging by the reaction to Facebook's intention to rebrand Libra and launch a stablecoin called Diem, stable cryptocurrencies may face difficult times. If the stablecoin regulation bill becomes law, it will not only hit Diem. The huge industry around Tether (USDT) will be forced to look for new ways to withdraw cryptocurrencies to fiat and take profits.
November 14, 2020
Another factor in the game in favor of Bitcoin may be the growth in capitalization of the stablecoin Tether (USDT). Over the past month, USDT capitalization has grown by almost $ 2 billion. Although this is not the main support factor, nevertheless, a stable cryptocurrency is often used as a parking space for buying other cryptocurrencies.
October 26, 2020
Once again, the Bitcoin rally has coincided with a significant emission of stablecoin, however, crypto market participants speculate that this may be a coincidence. Statistics show that the trading volume using USDT from 2017 to 2020 increased from 5% to 70%, so any episode of growth or decline in Bitcoin simply cannot do without an increase in Tether's turnover. According to Glassnode, the total volume of transactions on the Tether network has surpassed $ 600 billion. This is all time, but it is very likely that in the next few years we will see Tether grow exponentially. Since the beginning of 2020, USDT's market capitalization has grown 300%, reaching $ 16 billion now.
October 19, 2020
While crypto market participants are watching Bitcoin and its ability to overcome the $ 12K threshold, the stablecoin Tether (USDT) is becoming the “gray cardinal” of the crypto market. According to Glassnode, the total volume of transactions on the Tether network exceeded $ 600 billion. Although we are talking about the total data for the history of existence, the data for the month is also quite impressive. The average daily volume of transactions in the Tether network is about $ 35 billion. Bitcoin in the context of reduced trading volumes of about $ 20 billion is far behind the leading stable cryptocurrency. The market capitalization of USDT has grown by 300% since the beginning of 2020, reaching $ 16 billion. Of course, this is significantly less than Bitcoin, but at such a pace we will soon see the first stable cryptocurrency reaching new heights.
October 8, 2020
The main difference between the current state of the crypto market and 2017 is that there is now a wide choice. In case of doubt about the prospects of the cryptocurrency market, positions can be closed, and money can be parked in stablecoins. Don't believe in the security of Tether (USD)? - You can choose any other stablecoin. In 2017, all options for the investor were very ultimatum. Nevertheless, this is what made it possible to accumulate funds within the leading cryptocurrencies, since closing a position meant withdrawing to fiat with the prospect of losing money due to intermediaries.
September 26, 2020
The SEC wants to clarify how banks operate with stablecoins. The Commercial Banking Regulatory Commission (OCC) and the Securities and Exchange Commission (SEC) have presented their guidance that clarifies how national banks interact with stable cryptocurrencies. Regulators want to take the sector out of the “gray zone”, as there is no clear legal basis for the banks to operate so far. If a stablecoin is backed by assets, which is confirmed by a trusted third party, then the operating activity with such assets is in the legal field.
August 28, 2020
Tether surpassed Bitcoin in terms of value transferred in a week. The seven-day moving average of the transferred value in the leading stablecoin was $ 3.55 billion versus $ 2.94 billion for bitcoin. The main factor behind the change of leader in the pair was the growing popularity of DeFi-protocols.
August 18, 2020
Tether has pumped up the cryptocurrency market again with billions of dollars. According to the Messari service, at the end of last week, the capitalization of the largest stablecoin Tether (USDT) exceeded $ 12.7 billion. Another capital inflow became the largest in the history of a stablecoin issuer. Since March 2020, the capitalization of Tether has increased by 2.5 times from $ 5 billion.
August 6, 2020
With incentives from central banks and positive dynamics in the stock and precious metals markets, cryptocurrencies are gaining their share of interest. There will probably be speculative targets again when it comes to volatile coins, but there are also stable cryptocurrencies that are attracting more and more demand. They have all the necessary qualities for the purpose of portfolio diversification, and at the same time make it possible to instantly enter and exit volatile coins, affecting the entire market as a whole. Therefore, it is the growth in the capitalization of Tether (USDT) and other stablecoins that can become a really strong driver of the future growth of Bitcoin.
July 30, 2020
It is highly likely that stablecoins will soon attract the attention of regulators. If bitcoin was a "project in itself", and its price soared to $20K was quite easy to cut at times, then stablecoins are already playing on the territory of central banks and the global money transfer network.
July 21, 2020
It's very likely that stablecoins will only show growth over time. This scenario will attract close attention of regulators. If bitcoin was a “project in itself”, and its soaring up to $ 20K value was quite easy to cut at times, at the same time pushing tens of thousands of retail investors out of the market, then stablecoins are already playing on the territory of central banks and the global money transfer network. It is likely that integration with the traditional banking sector is possible precisely on the basis of stable cryptocurrencies, although initially they will face resistance.
May 19, 2020
Ah, the usual Load the Tether FUD. We experience Tether FUD every single time the market looks bullish, so it comes as no great surprise that suddenly Bitfinex is having troubles with the NY AG. It’s easy when these events happen, you just sell, grab coins at a cheaper price, and then ride them back up- all thanks to Tether. USDT works, and it’s verifiably backed by USD. Banks are not 100% banked by assets, so why should USDT be? It’s just the usual market FUD that’s meant to shake out weak hands.
April 14, 2019
USDT is my preferred trading coin. I never trade crypto to crypto. I only mess with USDT because its the next best thing to cash. I trade from BTC to USDT because I make sure to take profits asap. If you aren’t trading crypto to USDT, then you’re losing out because theres always fees when moving to other coins that youre eventually going to land in USDT.
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