Tether Reports $2.5B Profit in Q3, Holds Over $100B of U.S. Treasuries
The company’s flagship stablecoin USDT is the third-largest cryptocurrency with a $120 billion market capitalization.
Stablecoins
The Fed Is the Wrong Regulator for Stablecoins
The U.S. central bank would be conflicted, because stablecoins compete with the Fed’s payments infrastructure and with potential CBDCs.
Tether CEO Ardoino Says He Expects U.S. Will Catch Up in Crypto Regulation
Tether CEO Paolo Ardoino told a U.S. crowd on Tuesday that he’s counting on sensible crypto regulations coming soon from the U.S. “There is no place like the U.S.,” he said via video link at DC Fintech Week in Washington.
Stripe in $1.1B Acquisition Deal for Stablecoin Platform Bridge
Bridge, which has raised $54 million in funding, previously said it aspired to become the blockchain version of Stripe, operating a global system in which other developers could integrate.
Coinbase to Delist Unauthorized Stablecoins in EU by December
Tether, which is the largest issuer of stablecoins, has not managed to snag the necessary e-money license in the European Union.
Tether’s USDT Has Uses Beyond Crypto Markets, Trading: CEO Paolo Ardoino
Ardoino says there’s more of a need for stablecoins outside the U.S., especially in countries with rampant inflation and shoddy financial infrastructure.
Ethena Announces UStb Stablecoin Backed by Blackrock’s BUIDL
Reserves for UStb will be invested in BUIDL, which in turn holds U.S. dollars, U.S. Treasury bills, and repurchase agreements.
TrustToken, TrueCoin Settle With SEC Over Fraud Accusations in Stablecoin Investing
TrustToken and TrueCoin – now rebranded and under the umbrella of Archbock Inc. – settled accusations that they knowingly misrepresented the backing of the TrueUSD {{TUSD}} stablecoin and offered securities tied to it without properly registering, the U.S. Securities and Exchange Commission said in a Tuesday statement.
Stablecoins Are Becoming Systemically Important, Bernstein Says
Stablecoin supply is back to all-time highs with $170 billion in circulation, the report said.
Tether-Issued Stablecoin USDT’s Market Share Grows to 75% as Market Cap Tops $118B
The largest stablecoin’s market cap has almost doubled, while key rivals declined and new entrants have yet to challenge its position.