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USD Tether / US Dollar

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Bitfinex's parent company, iFinex Inc., is considering a $150 million share repurchase to increase its influence over the crypto exchange's operations. The repurchase reflects iFinex's positive performance over recent years and aims to ease shareholders' regulatory burdens. The company has faced regulatory challenges, including a $42.5 million fine in 2021 over allegations concerning Tether's USDT stablecoin reserves and Bitfinex's unauthorized U.S. operations.

Portfolio Pulse from Murtuza Merchant

October 10, 2023 | 10:43 pm

Hong Kong's Secretary for Financial Services and the Treasury, Christian Hui, announced that the country has not adopted any regulations for stablecoins such as Tether (USDT) or USD Coin (USDC), thus they will not be allowed to trade on the exchange. The Hong Kong Monetary Authority may introduce regulatory guidelines for the stablecoin market by the end of 2024. This comes after Hong Kong allowed retail trading of cryptocurrencies in early August 2023.

Portfolio Pulse from Khyathi Dalal

October 06, 2023 | 5:24 pm

Ripple has withdrawn from its planned acquisition of Fortress Trust, but will remain a shareholder in the parent company, Fortress Blockchain Technologies. The deal was initially intended to expand Ripple's license pool in the U.S. and invest in other Fortress group companies. Meanwhile, Ripple Labs has been included in the National Bank of Georgia's exclusive list for its second Central Bank Digital Currency pilot venture. This has led to notable gains in price and volume for XRP.

Portfolio Pulse from Khyathi Dalal

September 29, 2023 | 7:30 pm

Binance is looking to replace Paysafe as its banking partner. The crypto exchange has advised all Paysafe users to convert their EUR balances into Tether by Oct. 31. This comes after Paysafe cut ties with Binance, ending buying, selling, and trading support on the platform. Binance users will no longer be able to participate in EUR Spot trading and any open pending orders will be cancelled by the exchange. Binance had previously announced in June that Paysafe would end its support in September 2023.

Portfolio Pulse from Khyathi Dalal

September 28, 2023 | 4:59 pm

Tether Group has resumed lending Tether (CRYPTO: USDT) stablecoin loans to customers after a year-long pause. The company believes this will protect its long-term customers from liquidity shortages or selling assets at inappropriate rates. Despite concerns about the company's secured loans and their potential to destabilize the market, Tether saw loans at $5.5 billion in the latest reported quarter, up from $5.35 billion in the prior quarter. The company remains committed to removing the secured loans from its reserves, with a spokesperson indicating 2024 as the year of zero secured loans.

Portfolio Pulse from Khyathi Dalal

September 21, 2023 | 9:30 pm

Tether Group is acquiring 10,000 Nvidia H100 GPUs for $420 million and a 20% stake in Northern Data. Northern Data plans to rent the chips to AI startups. The deal will be conducted through an Irish shell company, Damoon. Northern Data will acquire a 70% ownership stake in exchange for shares equal to 20% of its ownership. The total cost of the deal remains undisclosed.

Portfolio Pulse from Khyathi Dalal

September 21, 2023 | 2:37 pm

Justin Sun, founder of Tron Network (CRYPTO: TRX), announced that there is $1B in Tether (USDT) on his blockchain network. Tron's transaction rate has seen an uptick and is now averaging a rate that's more than 500% of the Ethereum Network's (CRYPTO: ETH). As of Sept. 17, Tron averaged 4.5 million daily transactions and Ethereum averaged 880,000 daily transactions.

Portfolio Pulse from Justin Roberti

September 21, 2023 | 2:12 pm

USDC stablecoin is now available on Polkadot, allowing it to be transferred to parachains in Polkadot through the XCM protocol. This comes after Circle's announcement that USDC will be available for developers and users on the NEAR Blockchain Network. Polkadot USDC is issued on Polkadot Asset Hub and can be traded, borrowed, and lent on parachains like Centrifuge, HydraDX, and Moonbeam. USDC now supports 14 blockchain networks, more than its rival USDT which supports 11 networks.

Portfolio Pulse from Khyathi Dalal

September 19, 2023 | 4:47 pm

Tether (CRYPTO: USDT) has approved $1 billion to enhance short-term USDT liquidity on the Tron network. This is an authorization, not an issuance, and the funds will be used to cater to imminent issuance demands and chain swaps within the Tron ecosystem. Tether's market value surpassed the $83 billion mark in 2023, with a minting of approximately $16 billion in USDT since the year's start. Meanwhile, the market cap of Circle's (CRYPTO: USDC) stablecoin has dropped from $50 billion to $26 billion.

Portfolio Pulse from Murtuza Merchant

September 19, 2023 | 4:12 pm

Digital currency exchange BTSE has launched the BTSE Card, which allows users to top up with cryptocurrencies and make purchases in fiat across Mastercard’s merchant network. The card can be used at any of Mastercard’s 53 million merchants worldwide, with a transaction limit of 15,000 euros. Users can also withdraw cash from any location where Mastercard is accepted, particularly in Europe. The card can be topped up with a range of cryptocurrencies like Tether, USD Coin, Bitcoin, Ethereum, and even euros directly via BTSE’s platform.

Portfolio Pulse from Murtuza Merchant

September 15, 2023 | 7:28 pm

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