Earlier today, Tether Treasury has bolstered the USDT stablecoin’s presence on Ethereum by minting an additional 1 billion tokens, as reported by Whale Alert and confirmed by Tether’s CEO, Paolo Ardoino.
The USD/JPY pair has experienced a sharp decline in the value of the yen as optimism surrounding President Trump’s election victory boosts the dollar. Despite the Bank of Japan’s move towards rate hikes, concerns about a weakening yen and the future of US interest rates have brought market volatility into sharp focus. As officials call for rate hikes to support the yen and new US data impacts Fed rate predictions, the currency pair hits new milestones.
South Korea’s largest telecom provider SK Telecom is partnering with Aptos Foundation to integrate Tether’s USDT stablecoin into their T wallet platform, potentially bringing stablecoin access to over 30 million customers.
Bolivia’s fourth-largest bank, Bisa Bank, introduces USDT stablecoin services, allowing customers to buy, sell, and store digital assets while providing secure international payment options with fees ranging from $5 to $40.
The Wall Street Journal’s report of alleged US federal investigations into Tether has sparked market volatility, though the stablecoin issuer strongly denies the claims as “old noise” while defending its track record of law enforcement cooperation.
Bybit, the second-largest crypto exchange globally, announces its WSOT Futures Bot Tournament with a potential 400,000 USDT prize pool running until October 31, 2024. The tournament features automated trading strategies and rewards for both new and experienced traders.
Cloudbet’s latest data shows that established cryptocurrencies like USDT, BTC, and ETH remain the top choices for online gambling, despite the emergence of faster alternatives.
USDT/USD experienced a slight decoupling, coinciding with Chinese economic easing measures. This event and negative premiums for Binance OTC from USDT/RMB influenced Bitcoin buying patterns and highlighted the interconnectedness of traditional and crypto markets.
Coinbase announces plans to delist unauthorized stablecoins in the European Union by December 30, 2024, to comply with MiCA regulations. This move highlights the growing regulatory challenges for stablecoin issuers in the EU market.
Swan Bitcoin has filed a lawsuit against former employees and consultants, accusing them of stealing its Bitcoin mining business with alleged support from Tether. The suit claims trade secrets were misappropriated to launch a rival venture, Proton Management.
