Tether Shuts Down Uruguay Mining Operations
@Tether has halted its planned $500 million investment in Uruguay due to high energy prices and regulatory challenges impacting mining operations. #Update #Crypto $USDT
Stablecoins
Related to cryptocurrencies pegged to stable assets like fiat currencies or gold to reduce volatility.
Tether Halts Mining Operations in Uruguay
@Tether halts its Bitcoin mining operations in Uruguay, citing uncompetitive electricity rates. Most employees laid off; plans to explore long-term projects in Latin America remain. #Update #Crypto $USDT
Terra Crash: Do Kwon Seeks 5-Year Cap
Terraform Labs co-founder Do Kwon argues any prison term over 5 years is excessive for his role in the $40B TerraUSD collapse, citing nearly 3 years’ detention and financial penalties. #Update #Legal
Visa Expands Stablecoin Settlement in EMEA
@Visa expands its stablecoin settlement program across Europe, Middle East, and Africa through a strategic partnership with Aquanow, enhancing blockchain-powered payments. #Update #Crypto
Binance Boosts Stablecoin Reserves to $51B
@Binance leads in spot and futures trading, controlling a third of Bitcoin and Ethereum flows, with stablecoin reserves hitting $51.1B. Spot volume at $25B outpaces competitors. #Update #Crypto $BTC $ETH
USDT Approved for Crypto Banking in Bolivia
Bolivia integrates stablecoins like $USDT into its banking system, allowing banks to offer accounts and payment services amid rising crypto use. #Update #Crypto $USDT
Tether Downgraded After Buying Record Gold
@Tether has accumulated 116 tons of gold and $10 billion in Bitcoin, but S&P Global downgraded USDT’s dollar peg rating due to liquidity concerns and lack of transparency. #Update #Crypto $USDT
Ripple’s RLUSD Stablecoin Approved for Institutions
@Ripple’s RLUSD stablecoin received approval for institutional use in Abu Dhabi’s ADGM, enabling licensed firms to utilize it for financial activities. #Update #Crypto $XRP
Tether Challenges S&P After USDT Downgrade
Tether disputes S&P’s downgrade of $USDT stability score to 5, citing reserve transparency issues and Bitcoin exposure. Tether emphasizes its financial strength and role in emerging markets. #Update #Crypto $USDT
Tether Stability Rating Crashes to Weakest
S&P Global downgraded Tether’s $USDT stability rating due to increased reserves in volatile assets like Bitcoin and gold, raising depegging risks. #Update #Stablecoin $USDT
Bitcoin Boosts Bolivia’s Stablecoin Integration
Bolivia will integrate stablecoins into its financial system, allowing banks to offer crypto services like savings accounts and loans, marking a regulatory shift. #Update #Stablecoin
Stellar Network Powers US Bank Stablecoin Test
U.S. Bank is testing a stablecoin on the Stellar blockchain with PwC and the Stellar Development Foundation, joining other banks exploring crypto rails. #Update #Crypto $USDC
Paxos Acquires Fordefi to Enhance Stablecoin Infrastructure
@Paxos acquires @Fordefi to enhance its regulated custody, tokenization, and institutional onchain operations with MPC wallet infrastructure. #Update #Crypto $USDC
Stellar Chain Powers US Bancorp Stablecoin Pilot
US Bancorp is piloting a stablecoin on the Stellar blockchain, chosen for its compliance features like asset freezing and transaction management. #Update #Crypto #Stablecoin