Tether slashes commercial paper by 21% in latest reserves attestation
USDT stablecoin issuer Tether cut its reserves allocation to commercial paper by more than one fifth between September and December last year, dropping from around $30.5 billion to $24.16 billion. Tether is legally required to disclose its reserves every quarter as part of an $18.5 million court settlement with the Office of the New York […]
Mashinsky says USDT is minted for crypto as $1M bounty offered to unpick reserves
A bounty of up to $1 million has been offered to anyone who can cast light on the precise backing of Tether’s reserves. That backing just got a little bit murkier after Celsius Network CEO Alex Mashinsky reportedly said that Tether mints new Tether (USDT) in exchange for crypto assets — which appears to conflict […]
Bitcoin bulls at risk? Tether growth rate flatlines despite market cap crossing $64B
Tether Holdings Ltd, the issuer of the largest stablecoin, USDt, reported that its total market capitalization had crossed over $64 billion for the first time in history. The company called the event a “milestone,” adding that it is another indication of the cryptocurrency market’s “continued trust and confidence” in their stablecoin, USDt. Tether’s $USDt market […]