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Tether CEO Paolo Ardoino says USDT will help to successfully keep the US dollar on top of the global financial power structure. In a new post to the social media platform X, Ardoino makes his argument for why USDT is the “most successful tool” for the US dollar maintaining its hegemony. “Tether built, over the last decade, the widest physical and digital distribution network, spacing from thousands of kiosks in Africa and South America to digital remittances platforms, from payment backbones to institutional tools. Every single day our teams and portfolio companies are with their boots on the ground in countless areas within developing countries, helping communities and growing utilization, trust and education into USDT and by reflection into the US economy.” Ardoino notes that USDT is held by more than 400 million people, growing at a pace of 35 million new wallets per quarter, or 140 million new wallets per year. He also says USDT is doi...

Tether, the issuer of the leading stablecoin USDT and one of the largest Bitcoin (BTC) holders, could now be forced to dump part of its BTC reserves, according to JPMorgan analysts. This raises questions on potential market impacts for both Bitcoin and USDT in 2025. As The Block reported this morning, JPMorgan analysts are looking to Tether’s reserves and the recently introduced U.S. bills, regulating stablecoins in the country. According to estimations, only 66% and 83% of the issuer’s reserves comply to each proposed bill at its current state. Percentage of Tether’s reserves compliant with the STABLE and GENIUS Acts. Source: J.P. Morgan / The Block Currently, Tether holds around $8 billion worth of 83,758 BTC in its reserves. This represents approximately 5% of all the $142 billion circulating USDT, which the company claims is 1:1 reserves-backed. Picks for you ...

The firm behind the largest US dollar-pegged stablecoin by market cap will soon be launching on another layer-1 blockchain. According to a new announcement from Tether, USDT will soon be available on Aptos (APT), a high-speed Ethereum (ETH) rival blockchain built for scalability. “Tether, the largest company in the digital assets industry, today announced that they will soon be launching U.S. dollar-pegged Tether tokens (‘USDT’) on the Aptos Network. This integration is part of Tether’s broader strategy to make digital currency more accessible and useful globally, capitalizing on Aptos’ advanced blockchain technology and exceptional speed and scalability… Recent data highlights significant ecosystem growth; average daily active users increased from 96K in January to 170K in July of 2024. Additionally, a record-breaking 157 million transactions were processed in a single day in May 2024.” Aptos utilizes a Proof-of-Stake (PoS) consensu...

Cryptocurrency exchange Coinbase will charge a fee for converting the stablecoin USD Coin (USDC) into USD. According to a Jan. 29 post on the exchange’s website, the cryptocurrency platform will charge a fee when institutional clients make net USDC to USD conversion s over $75 million “over a rolling 30-day period.” Conversions between $75 million and $150 million are subject to a 0.1% fee, while transactions between $150 million and $500 million are subject to a 0.15% fee. The exchange team emphasized that there will be a 0.2% fee for converting USDC into US dollars worth more than $500 million. “Coinbase Prime clients with over $500 million of assets on the platform or holding on average $100 million in USD/USDC over a calendar month are exempt from USDC Conversion Fees.” Coinbase team Additionally, Coinbase exchange liquidity program participants “who meet Tier 1 or Tier 2 requirements” will have USDC conversion fees waived wheneve...