Tether Holdings’ USDT stablecoin token has achieved a remarkable feat, briefly surpassing $100 billion in circulation and market capitalization.
Tether's USDT maintains a stable one-to-one value with the US dollar, experiencing a circulation surge of over 9% since the start of the year, driven by heightened demand for Bitcoin, which is currently trading at an all-time high of $66,000.
CoinGecko data reveals Tether’s USDT briefly reaching $100.2 billion in circulation before stabilizing around $99.5 billion.
Tether dominates the stablecoin sector with approximately 70% market share, surpassing $142 billion in value, while its closest competitor, Circle’s USDC, holds 19.4%.
A Bloomberg report discloses Tether’s reserves for USDT reaching $97 billion in December, with over 76% allocated to short-term US Treasury bills, significantly boosting profitability.
Tether reported an excess capital of $2.85 billion in December, utilized for industry research, Bitcoin mining, and other investments, with plans to allocate approximately half a billion dollars solely for Bitcoin mining activities in 2024.
Despite its success, Tether faces public controversy and regulatory scrutiny over transparency concerns regarding its reserves and corporate structure.
Tether settled allegations by a US watchdog, paying over $40 million for misleading information about its collateral. It has since published quarterly attestations of its reserves with a third-party accounting firm.
Reports highlight Tether's involvement in terrorist financing and human trafficking, particularly in Asian markets.
A UN report highlighted organized crime groups in China using Tether for illegal betting operations, prompting Tether to express its commitment to combating cryptocurrency-related criminal activities.
Tether announces the development of a robust blockchain recovery tool to ensure user security and fund protection.
The tool allows Tether to maintain user security and fund protection in worst-case scenarios, operating independently of specific blockchains and utilizing multiple blockchains as a transport layer.
Affected users can initiate the migration process through a user-friendly interface, ensuring a seamless experience.
Users can cryptographically sign a migration request to verify ownership of USDT on an unresponsive blockchain and specify a recipient address on another supported blockchain for USDT transfer.
Taiwan is preparing a new law to integrate cryptocurrency into its economy, allowing banks to issue stablecoins and tightening regulation for crypto service providers. The country aims to attract global investors and become a crypto hub in Asia, with a focus on security and stability.
WeatherlySouth Korean authorities have apprehended six Chinese nationals in Jeju, South Korea for assaulting a dealer and stealing $1 billion won from him during their encounter at a luxury hotel. But the perpetrators are denying all allegations, and they are claiming to be the real victims in this ordeal. The perpetrators are accusing the dealer of trying to sell them short and attempting to scam them of their money.
XingChiA Taiwanese man, only identified as Chen, became the first casualty of the newly enforced anti-money laundering regulations in Taiwan. The new anti-money laundering (AML) regulations, which came into effect on November 30, 2024, required virtual asset service providers (VASPs) to complete AML compliance registration to offer virtual asset services in Taiwan.
XingChiTether is moving its headquarters to El Salvador, attracted by the country's crypto-friendly policies and tax benefits. The relocation is a key step in enhancing El Salvador's role as a digital asset hub while supporting Tether's expansion.
WeatherlyTether is expanding into AI filmmaking, hiring experts and planning to grow its team to 200 by mid-2025. The company is also investing in AI and cloud computing to enhance scalability and technology.
AnaisCircle and Binance have revealed their strategic partnership during Abu Dhabi Finance Week to promote USDC, a stablecoin jointly owned by Circle and Coinbase.
XingChiIn Thailand, armed robbers forced a Ukrainian man to transfer $250,000 in USDT under threat. They restrained him and warned against reporting the crime before fleeing. Thai police soon arrested four suspects, including a regular USDT buyer from the victim.
KikyoFour foreign nationals were arrested in Thailand for a robbery on 8 November, where they forced a Ukrainian tourist, Viacheslav Leibov, to transfer 250,000 USD in cryptocurrency. The suspects, who had prior connections to the victim, were charged with armed robbery, unlawful detention, and coercion.
WeatherlyHong Kong authorities are investigating a cryptocurrency scam in which a 26-year-old woman reported losing approximately HK$93,000 ($12,000) in tether (USDT) at an exchange shop in Mong Kok.
XingChiTether is biting back on The Wall Street Journal for speculating that the company is under investigation by the U.S federal government.
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