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Cryptocurrency USD Tether / US Dollar

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The FBI has seized cryptocurrencies valued at approximately $1.7 million between March and July of this year. The confiscated assets include Ether (ETH), Dai tokens (DAI), Tether tokens (USDT), Bitcoin (BTC), Monero (XMR), Solana (SOL), Cardano (ADA), and Dogecoin (DOGE). The digital assets were primarily seized from hardware wallets and accounts on cryptocurrency exchanges, with Binance accounts being notably prominent. No seizures were recorded from other leading exchanges such as Coinbase (COIN).

Portfolio Pulse from Murtuza Merchant

August 21, 2023 | 9:11 pm

Tether has announced it will discontinue support for its stablecoin USDT on the Bitcoin, Kusama, and Bitcoin Cash blockchains. The decision was made after evaluating the current transport layers and their relevance in the blockchain ecosystem. Users can swap the affected USDT tokens for other chains on supporting platforms, including Bitfinex.

Portfolio Pulse from Murtuza Merchant

August 17, 2023 | 4:28 pm

Bill Wolf, CIO at Archblock, believes that stablecoins will revolutionize the financial landscape, offering a more efficient alternative to traditional money transfer systems. He highlighted the significance of major payment platforms like PayPal entering the blockchain space. He also discussed the potential impact on existing digital currencies like Tether and USD Coin, predicting some level of market cannibalization. Wolf responded to a recent projection by Bernstein that estimated the stablecoin market could reach $2.8 trillion in the next five years, agreeing with the estimate.

Portfolio Pulse from Murtuza Merchant

August 14, 2023 | 7:25 pm

A 'whale' has made two significant deposits into the Huobi exchange, increasing its reserves of Tether (USDT) and Ether (ETH). The deposits total $200 million USDT and 5,000 Ether, worth $9.15 million. However, there has been a noticeable outflow from the Huobi platform, with Ethereum-based tokens worth $92.2 million being withdrawn. Huobi's token (HT) has experienced a slight dip of 2%, currently trading at $2.62.

Portfolio Pulse from Murtuza Merchant

August 08, 2023 | 4:29 pm

PayPal has announced its new U.S. dollar-denominated stablecoin, PayPal USD (PYUSD), which is fully backed by U.S. dollar deposits, short-term U.S. treasuries, and other cash equivalents. Paolo Ardoino, CTO of Tether, does not see PYUSD as a competitor to Tether, but believes it will lead to a further loss of revenue for competitors like USD Coin. Ardoino also suggested that PYUSD could erode revenues for payment companies like MasterCard and Visa.

Portfolio Pulse from Murtuza Merchant

August 07, 2023 | 5:36 pm

The Singapore Red Cross has started accepting cryptocurrency donations, including Bitcoin, Ether, Tether, and USD Coin. The charity has partnered with Triple-A, a cryptocurrency payment gateway, to facilitate these donations. The donations will be converted into traditional currency and transferred to the organization's bank account within a day.

Portfolio Pulse from Murtuza Merchant

August 07, 2023 | 2:03 pm

The stablecoin market has seen a shift in market share, with Tether (USDT) gaining over 25% to $83.7 billion in the past year, while USD Coin (USDC) has lost over 40% to $25.82 billion. Other stablecoins like Binance USD (BUSD) and Dai (DAI) have also seen a decrease in market share. The only stablecoin to increase its market share is TrueUSD (TUSD). The shift could be due to several factors, including the collapse of TerraUSD (USTC) and the slow response of Silicon Valley Bank to rumors about the reserves backing its USDC. Tether's profitability is getting closer to Blackrock (BLK) due to rising U.S. government bond yields.

Portfolio Pulse from Murtuza Merchant

August 04, 2023 | 1:57 pm

Justin Sun, the founder of TRON (CRYPTO: TRX), has purchased approximately $2.9 million worth of Curve (CRYPTO: CRV) tokens from Michael Egorov, the founder of Curve Finance. The transaction was confirmed by blockchain security company PeckShield and blockchain data analytics platform Lookonchain. Sun withdrew two million Tether (CRYPTO: USDT) from AAVE (CRYPTO: AAVE) and transferred them to Egorov, who in return transferred around five million CRV to Sun.

Portfolio Pulse from Murtuza Merchant

August 04, 2023 | 9:27 am

Shiba Inu (SHIB) is the largest non-stablecoin token holding among the top 100 Ethereum (ETH) whales, despite the majority of SHIB investors currently facing losses. Only stablecoins USD Coin (USDC) and Tether (USDT) surpass SHIB in terms of whale investments. Data reveals that only 13% of SHIB holders are in profit, while 81% are in a loss.

Portfolio Pulse from Mehab Qureshi

July 28, 2023 | 11:57 am

The recent Arkham (CRYPTO: ARKM) token airdrop saw approximately 59,700 addresses claim a total of around 27.9 million tokens. The top 2,000 addresses received a total of 10.4 million tokens, accounting for 37% of the total tokens distributed. Notable recipients of the airdrop included addresses associated with the ENS names thorhartvigsen.eth and onedayiwannaownapudgypenguin.eth. Most of the top recipients have sent most, if not all, of their tokens to an exchange, indicating a trend of selling the airdropped ARKM tokens.

Portfolio Pulse from Murtuza Merchant

July 20, 2023 | 5:21 pm

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