Flipster Marks First Year with $100,000 USDT Trading Contest
Crypto derivatives platform Flipster celebrates its anniversary by launching two trading competitions with substantial prizes, reflecting its rapid growth.
Tether (USDT)
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USD/JPY Surge: Japan’s Currency Diplomat Change and Its Market Impact
The upcoming replacement of Japan’s top currency diplomat is fueling speculation about reduced intervention in the forex market, potentially driving USD/JPY to new highs.
Philippines Adopts USDT for Social Security Payments
The Philippines has partnered with Tether to allow citizens to pay Social Security System (SSS) contributions using USDT stablecoin, marking a significant step in cryptocurrency adoption for government services.
Tether Shifts Focus: USDT Minting Halted on EOS and Algorand
Tether has announced the cessation of USDT minting on EOS and Algorand blockchains, citing a strategic shift towards supporting networks with growing communities. This move follows similar actions taken last year on Bitcoin, Bitcoin Cash, and Kusama.
Tether Faces Intense Scrutiny Over Alleged Corruption Ties and Criminal Activity Links
Consumers’ Research has launched a campaign against Tether, accusing the stablecoin issuer of being a threat to consumers and raising concerns about its potential to become the next FTX. The accusations include ties to the fallen FTX exchange, facilitating criminal activities, and a decade-long refusal to conduct a full audit.
Bitcoin Demand Rises Despite Stagnant Price
Despite strong demand for Bitcoin from institutional investors and long-term holders, Bitcoin’s price has yet to experience a significant rally, according to a recent report by CryptoQuant. The report cites slowing growth in the market capitalization of the stablecoin Tether (USDT) as a potential factor impeding a price rally.
Russian Firms Embrace Stablecoins for China Trade Amid Sanctions
To circumvent international sanctions and facilitate cross-border transactions with Chinese counterparts, Russian companies are increasingly turning to stablecoins like Tether (USDT), leveraging their speed, cost-efficiency, and ability to bypass traditional banking channels.
China Busts $1.9B Illegal Crypto Banking Operation
Police in Chengdu, China, have dismantled an underground banking operation that used the USDT stablecoin to facilitate illegal foreign currency exchanges worth at least $1.9 billion, leading to the arrest of 193 suspects nationwide.
Tether CEO Denies Bitfinex Data Breach by ‘F Society’
Tether CEO Paolo Ardoino has responded to claims by the ransomware group ‘F Society’ of breaching Bitfinex’s database, dismissing the allegations as likely fake.
Stablecoin Landscape Evolves as FDUSD Shines, Ethena Gains Traction
The stablecoin market displayed resilience in April, with First Digital USD (FDUSD) recording a stellar month and Ethena’s USDe gaining significant momentum, while overall volumes dipped slightly from March’s highs.