Justin Sun: The Next Do Kwon or Sam Bankman-Fried?
A cardboard cutout of Tron founder Justin Sun (Danny Nelson/CoinDesk)
Tether
Traders Ditch USDT on Curve, Uniswap, Pushing Key Exchange Pools Into Imbalance
Similar imbalances happened when Terra imploded in May 2022 and after the Silicon Valley Bank crisis hit USDC issuer Circle in March.
Bitfinex Launches Peer-to-Peer Trading Platform in Argentina, Colombia and Venezuela
Users will be able to buy and sell bitcoin, ether, USDT, EURT and XAUT.
Tether’s Banking Relationships, Commercial Paper Exposure Detailed in Newly Released Legal Documents
Tether’s banking relationships were detailed in a rare but limited window into the reserves behind USDT, the crypto market’s largest stablecoin, in documents obtained by CoinDesk under a Freedom of Information Law request.
New Stablecoin Issuer Raft Is Eschewing Fiat for Its Financial Backing
Its R stablecoin is collateralized by one crypto asset: liquid staking leader Lido’s staked ether (stETH).
Stablecoin Issuer Tether Invests in Sustainable Bitcoin Mining in Uruguay
Tether announced this month to invest a part of its net realized profits in BTC purchases and infrastructure.
U.S. Sanctions Watchdog Alleges Russia-Linked Crypto Wallet Processed $5M
An Irish national helped wealthy Russians evade sanctions and hide money in UAE, OFAC alleged Friday.
Crypto Market Recovery Unlikely Until Stablecoin Universe Stops Shrinking: JPMorgan
Tether’s market cap has been growing at the expense of rival stablecoins such as USD Coin, the report said.
Tether Says It Will Buy Bitcoin for Stablecoin Reserves Using Realized Profits
The company, which issues the $82 billion USDT stablecoin, reported $1.48 billion of net profits in 2023 Q1 and revealed $1.5 billion in BTC holdings.
Bitcoin-Tether Pair Is Most Liquid on Binance Even as TUSD Pair Sees Higher Volume
Trading volumes in the BTC/TUSD pair have surged over the past four weeks after the crypto exchange introduced zero trading fees for it.