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Cryptocurrency USD Tether / US Dollar

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Peter Schiff predicts a significant crash for Bitcoin, attributing it to speculative ETF buyers selling off, leading to a lack of liquidity. He also foresees a potential bankruptcy for MicroStrategy (NASDAQ:MSTR) due to its heavy investment in Bitcoin. Schiff criticizes the blockchain and Bitcoin as a 'Digital Ponzi' scheme and questions MicroStrategy's financial strategies. Despite Bitcoin's recent losses, analysts predict its holdings will increase significantly by 2025.

Portfolio Pulse from Khyathi Dalal

April 11, 2024 | 9:53 pm

A Bernstein report highlights Solana's (SOL) emerging lead in blockchain payments over Ethereum (ETH), attributing it to Solana's streamlined architecture and efficiency in stablecoin settlements. Despite challenges in scalability and network congestion, Solana's advancements and the broader stablecoin market's growth, dominated by USDC and Tether (USDT), indicate a significant shift in digital payments. The report also notes the increasing adoption of stablecoins by major payment processors and fintech platforms.

Portfolio Pulse from Murtuza Merchant

April 09, 2024 | 3:38 pm

Ripple announced the launch of a U.S. dollar-pegged stablecoin on the XRP Ledger and Ethereum, aiming to compete with Tether and Circle in the $150 billion stablecoin market. The stablecoin is backed by U.S. dollar deposits, short-term U.S. government treasuries, and cash equivalents, with plans for third-party audits and monthly attestations for transparency. This move is seen as a strategic step for Ripple and is expected to enhance liquidity and opportunities for the XRP Ledger community.

Portfolio Pulse from Murtuza Merchant

April 04, 2024 | 2:54 pm

Andrey Zverev, a Russian operative, used Tether (USDT) to transfer millions of dollars for securing drone components for Kalashnikov Concern, bypassing international sanctions. This highlights a significant loophole in sanction enforcement, with over $10 trillion in transactions using Tether in 2023 alone. The U.S. Treasury Department seeks regulatory authority over U.S. dollar-denominated stablecoins like Tether to close this gap. Tether Holdings has initiated a policy to freeze transactions linked to sanctioned entities, but the use of Tether in circumventing sanctions remains a concern.

Portfolio Pulse from Murtuza Merchant

April 01, 2024 | 8:05 pm

Andrey Zverev, a Russian middleman, has been using Tether (USDT) to facilitate transactions for Russian companies to procure high-tech equipment and weapons parts, bypassing Western sanctions. The U.S. Treasury Department is seeking legislation to block transactions in U.S. dollar-denominated stablecoins like Tether in response to their use in evading sanctions.

Portfolio Pulse from Benzinga Neuro

April 01, 2024 | 6:58 am

The 'overnight effect' observed in traditional stock markets, where significant price movements occur outside regular trading hours, is being scrutinized for its relevance in the cryptocurrency market. Unlike the stock market, the crypto market operates 24/7, making it susceptible to news-driven fluctuations at any time. Studies, including one from the Federal Reserve Bank of New York, suggest that crypto might still be influenced by traditional market movements, particularly during the opening hours of other global markets. Factors such as global interdependence, investor sentiment, and the role of Tether (USDT) in the crypto market are crucial in understanding this dynamic. However, crypto's inherent features like decentralization, a continuous news cycle, and high volatility could mitigate the 'overnight effect'.

Portfolio Pulse from Murtuza Merchant

March 21, 2024 | 9:39 am

Shiba Inu (SHIB) has become the fourth most traded cryptocurrency globally, with a 111% increase in value over the past week. On Binance, SHIB is the second most-traded pair after BTC/USDT. Tether (USDT) leads in trading volume, followed by Bitcoin (BTC) and Ethereum (ETH). SHIB's volume reached $5.7 billion, surpassing USDC, Bitcoin Cash (BCH), Dogecoin (DOGE), and Solana (SOL), despite being 76% below its all-time high from October 2021.

Portfolio Pulse from Bibhu Pattnaik

March 03, 2024 | 3:34 pm

Tether CEO Paolo Ardoino, in a recent podcast, expressed optimism about USDT reaching a market cap of $200-$400 billion or even $1 trillion, citing its current $96.5 billion cap and $6.2 billion in 2023 profits. Ardoino highlighted Tether's 100% reserve-backed tokens and a $5.2-billion surplus in corporate reserves. He emphasized the significant usage of USDT in countries like Brazil, Venezuela, Vietnam, and Nigeria, and Tether's focus on blockchain solutions with real-world applications. The article also mentions criticism of stablecoins by New Zealand Central Banker Adrian Orr and U.S. Rep. Maxine Waters' mention of nearing stablecoin regulation in the U.S.

Portfolio Pulse from Khyathi Dalal

February 12, 2024 | 9:05 pm

Cryptocurrency analyst Justin Bennett warns of a potential downturn in Bitcoin's value, citing the Tether dominance chart as a key indicator. Bennett suggests that Bitcoin has not reached its market bottom yet, potentially retesting mid $44,000 levels. He also draws parallels between current SPX trends and Bitcoin's 2021 peak behavior, hinting at future movements.

Portfolio Pulse from Bibhu Pattnaik

February 04, 2024 | 3:00 pm

Tether (CRYPTO: USDT) reported a Q4 profit of $2.85 billion, contributing to an annual profit of $6.2 billion. The profit includes $1 billion from U.S. T-bill interests and $1.85 billion from gold and Bitcoin holdings. Tether's assets under management are $98.5 billion, with a market cap increase from $91.7 billion to $96.2 billion over the past month. The company is expanding into Bitcoin mining and other sectors, with plans to build mining facilities in Uruguay, Paraguay, and El Salvador. Tether's transparency efforts and asset backing have been acknowledged by Cantor Fitzgerald CEO Howard Lutnick.

Portfolio Pulse from Khyathi Dalal

January 31, 2024 | 9:58 pm

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