Ad Binance CEO Changpeng “CZ” Zhao highlighted how Tether’s USDT has grown amidst the issues plaguing its rivals. In a March 21 tweet, Zhao described how Binance USD (BUSD) was forced to stop other mints despite being regulated by the New York authorities and audited by “big audit firms.” According to him, BUSD was “the most fiat-backed … Read more
The U.S. Commodity Futures Trading Commission (CFTC) stated in its Dec. 13 court filing against FTX founder Sam Bankman-Fried that digital assets like Bitcoin(BTC), Ethereum (ETH), and Tether (USDT) are commodities. Source: CFTC Court Filing CFTC wrote that these digital assets are commodities because they meet the definition of the term as defined by the … Read more
Binance USD (BUSD) is now available for deposits and withdrawals on the Polygon network, giving our users access to one of the fastest-growing stablecoins. BUSD, first issued on Ethereum and BNB chains, is now extended to Polygon to provide users with a fast and secure way to transfer the USD-backed stablecoin across different blockchains. The … Read more
USD Coin (USDC) issuer Circle has revealed that it would fully support the Ethereum (ETH) proof-of-stake (PoS) chain post-merge. According to an Aug. 9 blog post, the stablecoin issuer was looking forward to “the future scaling opportunities (the Merge) unlocks as well as the reduced energy consumption profile of the network.” While we don’t speculate … Read more
As Bitcoin (BTC) wavers around $41,000, Tether is indicating big moves may be coming for crypto in general. According to data from analysts Santiment, Thursday and Saturday had the two largest days of 2022, in terms of addresses interacting on the network, with 83,000 and 74,000 addresses interacting with the network respectively. Keep an eye … Read more
Polygon and Tether stablecoin are backing the City of Lugano in its effort to transform this picturesque lakeside town in southern Switzerland into Europe’s blockchain capital. Lugano will allow citizens and companies to use Bitcoin, Tether and the city’s own LVGA stablecoin to pay their annual taxes, parking tickets, public services and student tuition fees, … Read more
The stablecoin market has seen explosive growth over the past years. The market has been and still is, dominated by Tether’s USDT coin. However, the rival stablecoin issued by Circle Inc., USDC, just flipped USDT on the Ethereum blockchain – the largest stablecoin platform. A Flippening refers to a change in the total market cap … Read more
Cryptocurrencies are multi-faceted assets with distinct use cases. They can be categorized as digital properties, digital currencies, digital platforms or digital/decentralized applications. The aforementioned compartmentalization encapsulates Michael Saylor’s “four quadrant magic.” Bitcoin, according to the MicroStrategy CEO, leads the first category. It is the “king of digital property” and an appealing “store of value.” The … Read more
With a market cap of $62.75 billion at press time, Tether or USDT was the market’s 3rd most valuable crypto-asset. USDC, the other major stablecoin in the top 10, was ranked 8th with a market cap of ~25 billion. While USDT does have ~2.6x times the valuation, USDC is slowly climbing up the ladder in … Read more
