Tether (USDT) To Face Do or Die Situation in 2021: Messari Report
Tether is the cryptocurrency industry’s biggest threat in 2021, says a report penned by Messari’s Founder Ryan Selkins. The 134-page thesis ventured into the stablecoin’s emergence as a proxy for the US dollar that helps crypto traders getting in and out of their positions quickly on exchanges. It also focused on the controversy that tails […]
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Per a Bloomberg report, executives from Tether Limited, the company behind stablecoin USDT, could face a criminal probe for alleged bank fraud. The investigation is currently ongoing with the U.S. Justice Department and is focused on specific events. According to three anonymous sources cited by Bloomberg, the probe is investigating if Tether Ltd. Held information […]
Newly surfaced reports revealed that some hedge funds are now shorting Tether USDT. A Monday report from the Wall Street Journal (WSJ) stated several opened short positions on USDT. According to the report, a leading crypto brokerage, Genesis Global Trading Inc., held some notional values worth hundreds of millions for USDT shorting. The firm is […]
The growth of USDC in 2021 is more tremendous than that of Tether. The Ethereum-based USDC stablecoin is gaining immense traction as the experts deem it as the most dominant asset. In coming weeks it is very likely USDT’s share of the stablecoin supply on Ethereum will fall below 50% for the first time. USDC […]
Tether supplies on Ethereum are dwindling as USD Coin demand grows and grows. USDC has grown much faster than Tether (USDT) in 2021 and it is emerging as the dominant stablecoin on Ethereum thanks to its popularity in DeFi according to Messari.Research by the analytics firm revealed that the demand for USD Coin has grown so much that it has consumed a large chunk of Tether’s market share this year. Researcher Ryan Watkins predicted that in the coming weeks, this could result in Tether' share of the stablecoin supply on Ethereum falling below 50%. He added that over half of the total USDC....
A new study by Protos claims that Tether flow is dominated by just two firms — Alameda Research and Cumberland. Tether (USDT) has gone from being a renegade cryptocurrency to becoming the industry’s primary crutch during the last seven years, according to a new report. Essentially, USDT is a bridge between traditional currencies like the United States dollar and decentralized digital currencies operating on open blockchain networks.Independent crypto outlet Protos provided an in-depth insight into the most common stablecoin and the liquidity providers who supply it to cryptocurrency....