Tether Smashes Records, $1.48 Billion Profit In Q1- Surplus Over Reserves Hits All-Time High

Tether Holdings Limited, the issuer of the world’s largest stablecoin, USDT, has published its Q1 2023 Assurance Report, attested to by BDO Italia, a top five-ranked global independent public accounting firm.

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Stablecoin Issuer Tether Rakes In Staggering $1.5 Billon in Q1 Profits

In the first quarter of 2023, Tether, a prominent issuer of stablecoins, posted a net profit of $1.5 billion

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Tether attestation shows $1.5B worth of Bitcoin in reserves

Stablecoin issuer Tether (USDT) said it holds $1. 5 billion worth of Bitcoin (BTC) in its reserves — equating to 2% of its total reserves. The stablecoin issuer further revealed that it held $3. 39 billion in precious metals like gold.

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Crypto community criticizes Tether for blacklisting wallet that drained $20M from MEV bots

Several crypto stakeholders have criticized USDT issuer Tether for blacklisting a validator address that drained $25 million from maximal extractable value (MEV) bots. The MEV bots were drained of over $20 million on April 3 while executing a sandwich trade.

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Tether used Signature Bank to access the US financial system

According to Bloomberg, Tether, the world's largest stablecoin issuer, utilized Signature Bank to transfer funds from the United States to the Bahamas.

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Stablecoin issuer Tether accessed US banking system using Signature: Report

At the time New York regulators took control of Signature in March, there was reportedly a system in place for Tether clients to send dollars through the bank’s Signet platform.

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USDT issuer Tether has up to $1.7B in excess reserves, CTO says

Tether CTO Paolo Ardoino believes that USDT is becoming the “safest asset to hold in the world” amid the banking crisis.

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Tether claps back at WSJ over “stale” FUD

Tether calls Wall Street Journal’s claims “stale allegations from long ago. ” The USDT issuer noted in a recent blog post that it adheres to all regulatory and legal requirements around KYC, AML and Counter Terrorism Financing.

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Tether Partners Used Fraudulent Documents to Give Company Access to Bank Accounts, Says Report 

Stablecoin issuer Tether faces allegations by the Wall Street Journal that it accessed bank accounts through shell companies and accounts used for money laundering. The post Tether Partners Used Fraudulent Documents to Give Company Access to Bank Accounts, Says Report  appeared first on BeInCrypto.

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Stablecoin Issuer Tether Used Bank Accounts Opened With Falsified Documents in Past: WSJ

Tether, the company behind the world's largest stablecoin, accessed bank accounts by way of falsified documents and intermediaries, a new report says.

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USDT trading volumes rise 35% amid BUSD redemption requests

Tether (USDT) trading volumes are up by over 35% less than 12 hours after Paxos, the issuer of BUSD, a competing stablecoin, was directed to stop minting new coins.

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Tether taps Cantor Fitzgerald to help oversee bond portfolio: Report

The USDT issuer has made inroads into the traditional finance and accounting sectors as it attempts to increase transparency around its holdings.

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Wall street institution Cantor Fitzgerald reportedly manages $39B of Tether’s reserves

Stablecoin issuer Tether (USDT) is reportedly using Wall Street financial institution Cantor Fitzgerald to manage its $39 billion bond portfolio, Wall Street Journal reported February 10. The post Wall street institution Cantor Fitzgerald reportedly manages $39B of Tether’s reserves appeared first on CryptoSlate.

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Stablecoin Issuer Tether's Reserves Partly Managed by Cantor Fitzgerald: WSJ

The Wall Street bond trading powerhouse is managing Tether's $39 billion bond portfolio, according to the report.

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Tether's Attempt to Block CoinDesk's Request for Stablecoin Reserve Records Dismissed by New York Court

A New York judge on Friday rejected an attempt by iFinex and related companies, which include include cryptocurrency exchange Bitfinex and stablecoin issuer Tether, to block CoinDesk's request for information about the financial reserves backing the USDT token.

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Tether eliminates commercial paper from reserves, CTO boasts profit

Tether recently published an independent attestation report put together by accounting giant BDO Italia. The report revealed that the USDT issuer had eliminated its exposure to commercial paperThe post Tether eliminates commercial paper from reserves, CTO boasts profit appeared first on AMBCrypto.

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Tether reports $700 million net profit in Q4 2022

Stablecoin issuer issued its latest attestation report for the fourth quarter of 2022. The company reported a net profit of $700 million in Q4. The profit is in addition to the company’s reserves.

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Tether reports $700M profit for Q4’22

Stablecoin issuer Tether reported a $700 million profit for the fourth quarter of 2022, according to its latest attestation report published on February 9. The post Tether reports $700M profit for Q4’22 appeared first on CryptoSlate.

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Stablecoin Issuer Tether Reports $700M Profit, Complete Exit From Commercial Paper

Tether's assets as of Dec. 31 stood at $67 billion, with liabilities of $66 billion, almost all of which relates to digital tokens issued.

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86% of Tether was concentrated among four people till 2018

A report by WSJ revealed that 86% of Tether was controlled by four people as of 2018. The USDT issuer has disclosed very little about its operations and ownership structure. A new report by The post 86% of Tether was concentrated among four people till 2018 appeared first on AMBCrypto.

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86% of Stablecoin Issuer Tether Was Controlled by 4 People as of 2018: WSJ

Documents reveal the previously unknown ownership structure of the secretive stablecoin issuer.

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Tether denies borrowing from bankrupt Celsius

Tether’s (USDT) chief technology officer Paolo Ardoino has denied that the stablecoin issuer took a loan from Celsius in a January 31 tweet. The post Tether denies borrowing from bankrupt Celsius appeared first on CryptoSlate.

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TrueUSD unveils yuan-backed stablecoin on Tron

TrueUSD has launched its new stablecoin TCNH, backed by Chinese yuan and issued on the Tron (TRX) network. The move comes days after Tether launched its yuan-pegged token CNHT. TrueUSD, the issuer of the dollar-backed TUSD stablecoin, has announced the…

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USDT issuer Tether would stop making secured loans in 2023, thanks to FUD

USDT has been battling FUD around it in recent months as a result of its exposure to collapsed projects like FTX. Tether has made a move to reduce its secured loan to ensure the stability of thThe post USDT issuer Tether would stop making secured loans in 2023, thanks to FUD appeared first on AMBCrypto.

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FTX boss allegedly siphoned $84 million to a rural bank via Alameda

Investigators make a shocking discovery on Sam Bankman’s bankruptcy filing as FTX insolvency revealed a bizarre connection between FTX, Alameda Research, stablecoin issuer Tether, and a rural bank.

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Tether withdrew $1 billion USDT from the Solana blockchain as part of the swap

Tether announced a swap, as a result of which the company converted $1 billion USDT stored on the Solana blockchain, transferring its stablecoins to Ethereum The issuer of the USDT Tether stablecoin announced the commission of a large-scale swap between blockchains.

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Tether Ditches Solana, Performs $1 Billion USDT Swap

In a backward move for the Solana ecosystem, stablecoin issuer Tether is set to swap 1 billion USDT on Solana for ERC20 tokens for use on Ethereum The post Tether Ditches Solana, Performs $1 Billion USDT Swap appeared first on BeInCrypto.

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82% of Tether reserves held in ‘extremely liquid’ assets, according to attestation

The USDT issuer had total assets of $68.06 billion at the end of the third quarter, exceeding its total liabilities of $67.8 billion.

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$46 million of USDT embargoed on FTX by Tether due to legal request

Following sanctions from legal authorities, stablecoin issuer Tether has confiscated around $46 million worth of USDT on the Tron blockchain network. The wallet address currently holding the stablecoins is suspected to be owned by the defunct cryptocurrency exchange FTX. Tether…

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Tether Freezes Over $46M of FTX’s USDT

Centralized stablecoin issuer Tether has frozen funds belonging to FTX. Funds Locked According to data from Whale Alert, at least 46,360,701 USDT of FTX’s funds was frozen today at 14:11...

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Tether Freezes $46M of USDT Held by FTX Following Law-Enforcement Request

Stablecoin issuer Tether has frozen $46 million of USDT on the Tron blockchain following a request from law enforcement.

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Tether (USDT) Hits Back against Media Misinformation

Tether is asserting that Bloomberg is misinforming the public about USDT. They have been targeting the issuer of USDT with a slew of bad media coverage.

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US Tether Bank Fraud Investigation Changes Hands Within the DOJ: Report

A criminal investigation into whether Tether’s executives committed bank fraud in the early days of the stablecoin issuer’s existence has been reassigned after months of stagnation, according to Bloomberg.

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Stablecoin Issuer Tether to Make USDT Available at 24,000 ATMs in Brazil

The conversion of tether to Brazilian reals and vice versa will be managed by local crypto services provider SmartPay in conjunction with TecBan, which owns the ATMs.

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Tether reduces commercial paper reserves for USDT to zero

Stablecoin issuer Tether has eliminated commercial papers from its USDT reserve, according to its latest reserve update. The post Tether reduces commercial paper reserves for USDT to zero appeared first on CryptoSlate.

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Tether Cuts Out Commercial Paper Holdings To Foster Trust

The stablecoin issuer Tether (USDT) has made good on its word to cut its exposure to riskier assets like commercial paper. The post Tether Cuts Out Commercial Paper Holdings To Foster Trust appeared first on BeInCrypto.

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Tether cuts commercial paper reserves to zero

Tether’s commercial paper has shrunk to zero, the USDT issuer has announced. Instead of…

The post Tether cuts commercial paper reserves to zero appeared first on CoinJournal.

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Tether reduces commercial paper exposure to zero, replaces investments with T-Bills

The USDT issuer has faced criticisms for its exposure to commercial paper and, specifically, its alleged holdings of Chinese commercial paper.

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Stablecoin Issuer Tether Cuts Commercial Paper Holdings to Zero

The company has been gradually replacing its commercial paper holdings with U.S. Treasury bills.

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Tether stablecoin issuer freezes 8.2M USDT on Ethereum: Data

Tether has frozen a total of 215 USDT addresses on Ethereum in 2022 so far, according to data compiled by ETH researcher Philippe Castonguay.

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Tether reduces commercial paper exposure to below $50M, Treasury bills rise to 58.1% of reserve

Insider information on Tether’s reserve revealed that as of September 30, the shadlecoin issuer had increased its United States Treasury bills to 58. 1% of its reserves while reducing its commercial paper exposure to below $50 million.

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Stablecoin Issuer Tether Increases US Treasury Portfolio, Cuts Commercial Paper Holdings to Below $50M

The firm had said it plans to bring its commercial paper holdings to zero by the end of the year.

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Friedman, Former Tether’s Auditing Firm, Faces Over $1.6 In Penalty By SEC

The U.S. Security and Exchange Commission (SEC) sued and set charges of 1 million USD as a monetary penalty against Friedman LLP, the former auditing firm of Tether. Although the stablecoin issuer Tether hired the same auditing company from May 2017 to January 2018, the case filed last week does not count it. It has […]

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Tether's Former Auditor Fined $1M by SEC for Sloppy Accounting

The U.S. Securities and Exchange Commission (SEC) filed and settled charges last week against Friedman LLP, the former auditing firm of stablecoin issuer Tether, finding “serial violations of the federal securities laws” and numerous instances of “improper professional conduct,” according to an order published Monday.

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U.S Judge Orders Tether To Produce Financial Records Proving USDT’s Backing

Stablecoin issuer Tether has recieved a court order to produce financial records that prove the backings of its USDT. The Judge at Northern District Court New York, Katherine Polk Failla, issued the order for Tether on Tuesday upon the plaintiffs’ request to prove its reserves.

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Tether Addresses Court Order in $1.4 Trillion Lawsuit

Controversial stablecoin issuer has addressed recent ruling in $1.4 trillion market manipulation lawsuit

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Stablecoin Issuer Tether Ordered to Produce Documents Showing Backing of USDT

The order relates to an ongoing lawsuit that alleges that unbacked USDT issuances have caused $1.4 trillion in damage to the market.

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Tether (USDT) Seek Termination of Legal Firm Linked to Avalanche (AVAX)

Tether (USDT) has requested that Roche Freedman, the legal firm accused of holding a “secret pact” with Avalanche (AVAX), be terminated from a class action suit brought against the stablecoin issuer, citing a conflict of interest.

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Tether responds to Wall Street Journal ‘disinformation’

To attack Tether’s reserves [...] further highlights an agenda by the publication to single out Tether and hurt its reputation,” the USDT issuer said.

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