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Tether, the issuer of the top stablecoin USDT is making inroads into the US market. On Friday, the stablecoin firm unveiled its plans for USAT, a dollar-pegged asset the company says will be regulated in the US and backed by transparent reserves. Tether notes the new stablecoin will comply with the GENIUS Act, which was signed into law in July by President Donald Trump. The new legislation establishes a regulatory framework for stablecoins, requiring each token to be fully backed by liquid assets such as cash or short-term US Treasuries. Tether also notes that Bo Hines, a former Republican Congressional candidate, will serve as chief executive of the new US-focused venture. Hines served as executive director of Trump’s “Crypto Council” from January to August. Tether CEO Paolo Ardoino says the new development will help fortify the US dollar. “Tether is already one of the largest holders of U.S. Treasuries because we believe deeply in the enduring power of ...

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer ...

Tether chief executive Paolo Ardoino reportedly says that the stablecoin issuer will stay focused on foreign markets as a stablecoin regulatory bill works through Congress. According to a new report by Bloomberg, Ardoino says that even though the Genius Act, an industry-backed bill to regulate dollar-pegged crypto assets in the US, is making its way through Congress, Tether will remain focused overseas. “It is important for us to see how the Genius Act is distinguishing between foreign issuers and domestic issuers. For us, the main interest will remain outside of the US. We are looking at the Genius Act in a way that will allow us to be compliant. We can be compliant while still having a strong focus on foreign markets.” Tether, which is based in El Salvador, is the largest stablecoin issuer in the world but stopped serving customers in the US in 2018. However, the report says that if Tether were to focus on the US, it may run into issues such as back...

The entire cryptocurrency industry saw a major shift in sentiment over the past few months. With rising prices the demand for prominent cryptocurrencies also increased. The world’s largest cryptocurrency, Bitcoin (BTC) has been under the spotlight for the longest time. The end of 2024 and the begining of 2025 was an extremely bullish period for the market. The king coin jumped all the way to a high of $109,114.88. Bitcoin, however, dipped below the $100,000 mark just last month. Along with the recovering prices, the market saw a jump in new wallets as well. Also Read: Trump Opens Saudi Checkbook: 13 U.S. Stocks at Center of $600B Deal Bitcoin Outshines Ethereum, XRP & Tether Source: Coinpedia According to recent data from Santiment, the market has welcomed a plethora of new wallets during the past month. The daily avereages of these wallets for the top four cryptocurrencies highlights the increasing interest in the ecosystem. The firm revealed that Bitcoin topped the list with a t...

Tether CEO Paolo Ardoino has provided a breakdown of the company’s reserves following a report from the Wall Street Journal (WSJ) that said the stablecoin issuer was under investigation by the US Department of Justice (DoJ). Speaking at Lugano’s PlanB event in Switzerland, Ardoino said Tether holds $100 billion in US Treasuries, over 82,00 Bitcoin and 48 tons of gold for its USDT reserves. Tether CEO Says WSJ Article Is “Regurgitating Old Noise”  The Tether CEO’s appearance follows an Oct. 25 article by the WSJ, which claimed the company was under investigation by the DoJ for allegedly violating anti-money-laundering laws and US sanctions. As we told to WSJ there is no indication that Tether is under investigation. WSJ is regurgitating old noise. Full stop. — Paolo Ardoino 🤖🍐 (@paoloardoino) October 25, 2024 Ardoino responded to the publication in an Oct. 25 post on X, stating that the company has told the WSJ that ...

PayPal’s stablecoin, PYUSD, made its debut on August 7. Explore PYUSD, what it means for crypto, and how the community reacted. The financial landscape, long accustomed to gradual evolution, witnessed a seismic shift on August 7 when PayPal, a vanguard of financial technology, introduced PYUSD, its US dollar-based stablecoin.  Today, we’re unveiling a new stable coin, PayPal USD (PYUSD). It’s designed for payments and is backed by highly liquid and secure assets. Starting today and rolling out in the next few weeks, you’ll be able to buy, sell, hold and transfer PYUSD. Learn more https://t.co/53RRBhmNHx pic.twitter.com/53ur2KmjU7 — PayPal (@PayPal) August 7, 2023 Stablecoins have long been considered in the mainstream financial ecosystem but haven’t seen widespread adoption. With PYUSD, PayPal has positioned itself at the intersection of traditional and digital finance, suggesting a possible increased role for digital currency in everyday transactions. What...

Major crypto exchange Huobi has quietly fixed a data breach in which a bad actor could have stolen user assets, spread malware, learned the IP address of every over-the-counter (OTC) trader since 2017, and identified nearly 5,000 crypto whales on the platform, according to a white hat hacker. Citizen journalist Aaron Phillips discovered the data breach occurred in the summer of 2021, when Huobi accidentally shared a file containing AWS credentials. However, after learning about the breach in 2022, it took Phillips an entire year to get the exchange to confirm that the breach had been fixed. “For two years, every user who logged into a Huobi website or app was potentially at risk of losing their account,” the citizen journalist wrote. “An attacker exploiting Huobi’s mistakes would have had the opportunity to carry out the largest crypto theft in history. ” Huobi data breach exposed 5,000 whales Huobi accidentally published the sensitive file in June 2021. According to Phillips...

The collaboration intends to bring changes to public administration and the business sector. Stablecoin issuer Tether has signed a memorandum of understanding (MoU) with the government of Georgia to develop Bitcoin and peer-to-peer (P2P) infrastructure in the country. The strategic collaboration between the Tether and the Georgian government will focus on building key infrastructure for a thriving startup ecosystem in Georgia.  The collaborative effort aims to attract international attention and investment toward the nascent decentralized space. The partnership aims to foster the growth of P2P technology at a state level and help build financial tools around it. Some of the key areas of develop ment include education on Bitcoin (BTC) and blockchain technology, building payment infrastructure for merchants, and develop ing a resilient, open and private P2P communication system. Paolo Ardoino (CTO, Tether) and Irakli Nadareishvili (Deputy Minister of Economy and Sustainable Develo...

Volcano Energy said the funds would go toward developing a 241-megawatt power generation park. A public-private partnership in El Salvador pledging to pump $1 billion into creating a Bitcoin (BTC) mining farm has received its first $250 million. This first release of funds kickstarts a 241-megawatt (MW) power generation park in the country’s Metapán region. Volcano Energy, the company behind the site, said the funds would go toward developing the power generation park using solar and wind energy, which will eventually power the Bitcoin mining operation. Volcano Energy chairman Max Keiser took to Twitter on June 7 to announce the news. .@Volcano_Energy receives the first $250M of a $1 billion commitment that kickstarts 241 MW’s of #Bitcoin mining in El Salvador. “We Got The Power” https://t.co/j2wE6UJq0O pic.twitter.com/db3PZvFo4q — Max Keiser, sr. bitcoin advisor pres. Bukele (@maxkeiser) June 7, 2023 Bitcoin mining uses high-power computers hooked up to a global network, usi...