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Tether is in talks with investors to raise $15 billion to $20 billion in new funding that could value the largest stablecoin issuer at around $500 billion, putting it in the same league as titans like OpenAI and SpaceX. The private placement would involve issuing new equity, with Cantor Fitzgerald advising on the process, and give investors a stake of about 3% in the company, Bloomberg reported, citing two people familiar with the matter. They cautioned that the final raise could be significantly smaller as talks are in the early stages. If successful, the deal would rank among the largest private financings ever, and highlights the company’s bid to dominate stablecoins even as rivals such as Circle expand. “Tether is evaluating a raise from a selected group of high-profile key investors, to maximize the scale of the Company’s strategy across all existing and new business lines (stablecoins, distribution ubiquity, AI, commodity trading, energy, communications, medi...

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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 ...

Bank of America is lobbying Congress to pass legislation that will favor banks when determining who can issue stablecoins. The $284 billion Global Systemically Important Bank (G-SIB) aims to limit non-banks’ legal abilities to create stablecoins. This year, CEO Brian Moynihan has been working with lobbying groups like the American Bankers Association and Bank Policy Institute, according to The Block. He wants to issue a fully reserved, 1:1 backed “ Bank of America coin .” If the bank’s efforts succeed, it could limit the stablecoin efforts of non-banks like Coinbase, Circle, Amazon, Meta, Tether, and many others. Why is Tether 213% bigger than Circle but 8,000% more profitable? Read more: PayPal and Ripple stablecoins still sub-1% despite ‘stablecoin gold rush’ Bank of America wants to compete with Circle, Tether Obviously, Circle is also conducting its own lobbying efforts. The company’s major stablecoin, USDC, has a $60 billion market cap that ranks sec...

Tether USDT chain swap operations hit a milestone with a $1 billion move to the Tron blockchain. This shift changes how the cryptocurrency market works. The USDT transfer works with a major exchange and helps blockchain scalability. The total supply of the world’s biggest stablecoin stays the same. In the next hours Tether will coordinate with a 3rd party prominent exchange to perform a chain swap, converting part of their $USDt cold wallets from different blockchains to $USDt on Tron. The #tether $USDt total supply will not change during this process. Amount (subject to… — Tether (@Tether_to) January 6, 2025 Also Read: Ripple’s RLUSD Outshines PayPal and Euro: Could RLUSD Hit $1.80? Understanding Tether’s $1 Billion Chain Swap on Tron Blockchain and its Impact on Crypto Markets Source: StormGain Strategic Transfer Details Source: CoinMarketCap The Tether USDT chain swap moves tokens from various blockchain cold wallets to Tron’s network. “The process will not al...

Tether, the world’s largest stablecoin, used 2024 to grow its market capitalization by nearly $50 billion, its investments across a variety of industries, its product lines, and its political influence.  Cantor Fitzgerald Tether stores a massive portion of its reserves at Cantor Fitzgerald, a firm that has been led by Howard Lutnick. Lutnick, for his part, has been willing to publicly endorse the often beleaguered stablecoin, saying he is “a big fan.” Lutnick is also an important political figure, serving as co-chair of the transition committee for President-elect Donald Trump. He was also floated as a potential Treasury secretary before eventually being nominated as the future commerce secretary.  Tether’s dreams come true with Donald Trump victory Read more: Tether custodian Cantor Fitzgerald loves Tether, chief says Recently, Cantor Fitzgerald had to pay a $6.75 million penalty to the Securities and Exchange Commission (SEC) ...

The firm behind the largest stablecoin by market cap is announcing the achievement of a significant regulatory milestone. In a new announcement, Tether says USDT has become an Accepted Virtual Asset (AVA), as recognized by the Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA). Says Tether CEO Paolo Ardoino of the achievement, “This milestone underscores Tether’s commitment to fostering global financial inclusion and innovation. By bringing USDT to the forefront of ADGM’s regulated virtual asset framework, we are not only validating the importance of stablecoins as critical tools for modern finance but also opening new doors for collaboration and growth across the Middle East. The UAE’s forward-thinking approach to virtual asset regulation sets a global benchmark, and we are proud that USDT can play a pivotal role in driving economic progress and digital transformation in the region. This approval highlights Tether’s dedic...

Ask a typical Bitcoiner to name the most influential mining company, and they would almost certainly name Bitmain. The company is by far the world’s dominant mining rig manufacturer and leads a near-majority of mining pools: Antpool and its many sockpuppets. Quietly, however, stablecoin giant Tether has been increasing its influence with a variety of bitcoin miners across the globe. The stablecoin giant recently invested $100 million in Bitdeer , a publicly traded company operated by a Bitmain co-founder, and it’s also the leading investor in Blockstream , Bitcoin ’s leading development company. Funded partly by Tether, Blockstream has an operating mining division and a dedicated purchasing division that securitizes Bitmain mining rigs. Bitfinex, Tether’s sister exchange, is the trading venue for the Blockstream Mining Note. Tether has also either invested in or funded : Salvadoran bitcoin mine Volcano Energy A Bitcoin mine in Uruguay . Swan Mining , which has deployed o...

In a rare interview with Paolo Ardoino , the CTO of Tether , Camila Russo from The Defiant podcast was able to discuss the embattled $82 billion stablecoin. The always-cagey executive suite of Tether refused to answer any important questions — but some gems still appeared in the rough. During the 40-minute interview published on Tuesday, Russo pushed Ardoino to name Tether’s banking partners. “Tether Truthers… or the haters, they like to harass these banks,” he said, suggesting the multibillion dollar marketcap stablecoin couldn’t provide banking details publicly or ‘haters’ would barrage a bank. Tether can’t be transparent because BitBoy Ardoino alluded to Ben Armstrong, known as BitBoy, without mentioning the crypto influencer by name. “We had, in the past, cases of physical harassment directly on the premises of these banks,” the Tether CTO explained. Back in November, BitBoy visited the headquarters of Deltec Bank, a Bahamas-based bank of Tether, to ‘expose’ the firm. ...

The hacker’s wallet with more than $100K worth of USDT was blacklisted and frozen, while the Victim had been drained for almost $170K worth of NFTs and other assets. With the help of police and cyber authorities, a victim of a hack worth 90 Ether (ETH) has gotten the attacker’s Tether (USDT) address black listed . As a result, they may be able to get most of their funds back. [2023/08/11 17:30] USDT black listed 0x788bc56b67c289399cd6e2022f0d76484f04724a in block 17893148 https://t.co/WipjkHXFGp — usdt blacklist (@usdtblacklist) August 11, 2023 The victim, who goes by @l3yum on X (Twitter), was initially drained on March 16 after the hacker managed to get a hold of their hot wallet seed phrase. Several Yuga Labs-related NFTs were stolen, alongside some crypto and other NFTs from smaller projects, and then promptly swapped or sold off. In an Aug. 11 X thread, L3yum highlighted that the hacker’s Ethereum-based USDT address had been blacklisted, as he noted that: “Today after ...

Telegram is one of the most underrated instant messaging apps. It is free to use and offers a fast and secure platform with end-to-end encryption. The platform offers not just the Features to send and receive messages, but also a wide array of useful Features . Telegram is gradually making its way into the cryptocurrency realm. It had added support for cryptocurrency payments, according to a tweet from the TON ( Telegram Open Network) Foundation in April. The TON token can be used to make cryptocurrency payments on Telegram . Also read: Circle Chief Strategy Officer’s Twitter Account Compromised According to the latest details from an announcement shared with CoinDesk, Telegram has added the feature to send users Tether ( USDT ). Source: CryptoTrends Telegram takes a leap with USDT The new feature will now allow users to send and receive the largest stablecoin, USDT. USDT has always appeared as a much better option for investors due to its less volatile na...