USDT

Major stablecoin network Tether may not be on board with the US Treasury Department’s ban on crypto mixer Tornado Cash.  In an official release on Wednesday, the team revealed that they would not blacklist any of the OFAC’s sanctioned smart contract addresses. Tether in Close Touch with Law Enforcement Agencies Earlier this month, the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned the privacy protocol Tornado Cash. The treasury highlighted its role in laundering the proceeds of cybercrime as the…

KuCoin, one of the most popular crypto exchanges, has launched an exchange-traded fund (ETF) to increase liquidity for NFT collections like Bored Ape Yacht Club (BAYC). This new service should help investors access non-fungible tokens and boost the assets’ widespread availability. The Seychelles-based exchange partnered with NFT infrastructure provider Fracton Protocol to ensure the project’s feasibility. A USDT-Dominated ETF The KuCoin NFT ETF is using Tether (USDT) as the crypto reference for its trading operations, including five different funds. The…

Decentralized finance, or DeFi, presents several hazards to investors. First, the impermanent loss is a significant concern when dealing with this growing market. This guide will explore the meaning of impermanent loss concerning the liquidity pool. Moreover, the guide will also discuss how to calculate the difference and reduce the risk of this phenomenon. Grasping the Notion of Impermanent Loss There is a high probability of impermanent loss in every given situation. For example, a net difference in the value…

Ukraine is switching from fiat to crypto transactions as the Russian invasion gradually strangles the country's financial stability. While cash use declines and fiat availability drops, Ukrainians turn to BTC, Ether, and USDT to transfer assets. Furthermore, crypto donations are landing in their wallets from worldwide users as a sign of solidarity. The question is, how much will crypto influence Ukraine's resistance? Restrictions on Cash Use in Ukraine Soon after Russia invaded Ukraine, the latter’s president, Volodymyr Zelenskyy, instated the…

As crypto markets are tanking, traders get some welcomed good news - from an unlikely source. Myanmar's shadow government made Tether its official currency. The National Unity Government, which holds no real political power, stated that it accepts stablecoin Tether. Formed after former leader Aung San Suu Kyi's ousting in February, the group stands in opposition to the military junta. Former government officials that the Junta deposed and pro-democracy groups make up NUG. The shadow government holds no territory. However, they…

Major cryptos are in the red as major stablecoin Tether faces another lawsuit. The Crypto Fear and Greed Index, a measure of crypto sentiment, says it all. After the same opinion dominated last week, market sentiment is at "Extreme Fear" again. Over the last 24 hours, Bitcoin fell below $46,000. It since settled at $47,000. Ethereum, the second-largest crypto, fell to $3,806. Furthermore, smaller coins such as BNB, Solana, Cardano and XRP are all red. Except Doge, which rose after…

Binance is the largest and most popular cryptocurrency exchange in the world. The platform remains a top option for anyone looking to get into the crypto space and make money. But, the past few months have been a bit of a challenge for Binance. The company has faced opposition from different governments. Now, all of these appear to be stifling the rise of its coin, BNB. It All Started So Well Binance launched BNB in 2019 as its exchange token.…

Bitfinex and Tether have settled the legal dispute with the New York Attorney General Office (NYAG) that began in 2019. As part of the settlement, the crypto firms have agreed to pay $18.5 million to the New York state regulator.  End To A Protracted Legal Dispute The New York Attorney General Office revealed the settlement agreement in a statement released today. The lengthy report highlighted the entire legal dispute process that began in 2019. In April 2019, the NYAG office charged…

Tether has dominated the stable market for the past three years, with a record high circulation of nearly $27 billion. However, the coin’s critics say that its lack of transparency is a liability to the crypto industry.  For the first time, Tether shed its market dominance to under 75%, according to the latest Coinmetrics figures. Some suggest better stablecoins in the market, while a centralized digital currency provider is a no go zone. USDC Making Major Moves Tether's main competitor…