Tether (USDT) has reached a market capitalization of more than $10 billion as of July 22. The milestone was announced by Tether and also seen through the market price aggregator CoinGecko. Tether’s issuance has seen a significant growth in 2020, doubling from $5 billion in just five months since March 2020. Cointelegraph previously reported that a relevant portion of this growth comes from existing fiat on exchanges being transformed into USDT. Tether and Bitfinex CTO, Paolo Ardoino, recapped some of Tether’s achievements during its growth. Tether transfers currently account for a majority of transactions and value on many of the …

For the last month Bitcoin (BTC) price has traded in a tight range and trading volume has been relatively flat. Meanwhile, several tokens on the Ethereum network have been topping the price charts, especially the Decentralized Finance (DeFi) tokens. New data from Messari shows that Ethereum has just surpassed Bitcoin as the network that settles the most value per day. This means that the dollar value on the transactions of both Ether (ETH) and its tokens is now higher than that of Bitcoin. Ethereum vs Bitcoin daily settlement value. Source: Messari While the DeFi sector has been gaining popularity, stablecoin …

Tether (USDT) recently rose through the ranks as it replaced XRP as the third highest ranked asset by market capitalization. It now sits at a total of more than $9 billion in circulating USDT, dwarfing its stablecoin competitors in traded volume and overall supply. Cointelegraph interviewed Paolo Ardoino, the CTO of Tether and Bitfinex, to get an inside look into the sudden rise. Half of Tether’s total growth came after the infamous March 12 market crunch, jumping from $4.6 billion to $9.1 billion in the span of a few months. Ardoino revealed that this is not a coincidence. Old money …

Paolo Ardoino, Chief Technology Officer (CTO) of Bitfinex and Tether, says recent pushes for governments to adopt regulatory paths towards central bank digital currencies won’t adversely affect stablecoins like Tether. “In the long term, we believe that Tether will continue to exist alongside CBDCs,” the Tether CTO said to Cointelegraph, citing the token’s performance on several different blockchains including Algorand, Ethereum, EOS, Liquid Network, Omni and Tron. “Tether will remain in demand as it continues serving and unifying a variety of ecosystems.” Governments pushing for CBDCs Cointelegraph reported on July 15 that the Japanese government was planning to include consideration …

The price of Chainlink’s LINK token has increased 480% since the beginning of 2020/ These three key metrics may explain its rise. LINK price 2020. Source: Nomics. Is it another pump? Chainlink has been in the news a lot over the past several months with a number of partnerships and integrations. However, whenever a cryptocurrency or a token experiences rapid appreciation, the crypto community begins to speculate about the underlying causes. Typically, the most popular explanation is that the company behind the asset must be “pumping” it. We decided to look at some key on-chain metrics for the LINK token …

Industry experts say Tether and Decentralized Finance tokens will play large roles in the future of Ethereum as the blockchain approaches its five-year anniversary on July 30. In a statement shared with Cointelegraph, Paolo Ardoino, Chief Technology Officer (CTO) of Bitfinex and Tether, said the Ethereum blockchain will “play a central role in the digital asset ecosystem in the years ahead” as “Ethereum-based Tether can continue to support and empower growing ventures and innovation in the blockchain space.” “We hope that the recent surge of DeFi can translate to more DeFi financing products and projects that will truly shape industry …

Tether (USDT) has blacklisted 39 Ethereum addresses worth $46 million in USDT, with 24 holding a total of over 5.5 million USDT being blacklisted this year. This revelation comes on the back of Centre’s first blacklisting of an Ethereum address holding $100,000 USDC. Ethereum researcher at Horizon Games Philippe Castonguay used Dune Analytics to create a dashboard that tracks the number of addresses blacklisted by both Centre and Tether. The largest address holds over 4.5 million USDT and was only recently blacklisted on April 5. 39 addresses blacklisted by Tether. Source: Dune Analytics Similar to blacklisted addresses holding USDC, Tether …

A New York Supreme Court has found that veteran cryptocurrency exchange Bitfinex and its related stablecoin company Tether (USDT) must face claims they concealed the loss of commingled corporate and client funds. The claims were brought by New York Attorney General Letitia James, who has accused firms associated with Bitfinex and several associated companies of hiding more than $850 million in lost funds. Bitfinex asserts that its funds were deposited with Crypto Capital — a Panamanian firm accused of providing shadow banking services to virtual currency exchanges — before being seized by government authorities in various countries. They are working …

The Chinese authorities dismantled a significant crypto-related scam in Wenzhou. The scheme amassed over 100 million yuan ($14.31 million), which was seized along with a number of luxury cars and villas. According to Toutiao, the gang has been operating since 2019 and primarily sought out victims through Telegram chat groups, including one called “Huobi Global Moving Brick Arbitrage HT Chinese Group Community.” ETH, BTC, and USDT stolen from victims The report states the scammers pretended to be investors who had benefited from an “investment scheme.” The scammers told their victims that all they had to do was send their cryptos …

China’s central bank digital currency is usually identified as a way to challenge the dominance of the U.S. dollar, not Bitcoin (BTC). But it may struggle to find adoption in niches where crypto versions of the dollar thrive, primarily Tether (USDT). At the Unitize panel on Monday, Charles Yang from Genesis Block explained why the DCEP, commonly referred to as digital yuan, is not particularly attractive as a crypto replacement. Speculation and payments Yang identified two key drivers of crypto adoption, specifically in Asia. The first is speculation, noting that traders from countries such as Korea and China have a …

On Tuesday, Tether announced a sizable swap of USDT from the Tron blockchain to the Ethereum protocol. Tether explained that the amount of USDT in circulation would remain the same, meaning that USDT (TRC-20) will be burned and the same number of tokens will be issued on Ethereum. Tether makes use of several blockchains to host the circulating supply of USDT, which allows users to bypass congestion in a certain chain if the need arises. This system also makes USDT use easier for users invested in a certain platform to continue transacting in USDT and makes the stablecoin somewhat of …

Crypto market data aggregator Messari reports that the market cap of leading stablecoin Tether (USDT) has surpassed $10 billion for the first time. Alongside Bitcoin (BTC) and Ethereum (ETH), Tether is now one of three crypto assets with an eleven-figure capitalization. Tether’s reported $10 billion market cap comes after year-to-date growth of 144% — with Tether representing $4.1 billion at the start of 2020. However, data aggregators are at odds on Tether’s capitalization, with CoinGecko and CoinMarketCap estimating USDT’s market cap to be just over $9 billion. USD Coin and Binance USD post strong growth The second-largest stablecoin by market …