Tether’s (USDT) chief technology officer Paolo Ardoino has denied that the stablecoin issuer took a loan from Celsius in a Jan. 31 tweet. Ardoino responded to a Twitter thread on the Celsius examiner report that said that Tether, alongside Three Arrows Capital and Alameda Research, could exceed their credit limits with the bankrupt lender. The report claimed that the stablecoin issuer had over $2 billion in exposure to Celsius and was considered an “existential threat” to the lender’s financial health. It added that Celsius’ couldn’t survive a Tether default because its capital was insufficient. (cryptoslate)

Tether is first cryptocurrency to take a stand with INHOPE against CSAM.

Genesis Trading’s lending business Genesis Global Capital filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York. Amid the bankruptcy filing, Genesis Trading is actively transferring crypto assets to other crypto exchanges and wallets.

Instead of desiring and aspiring to become a pure CBDC, Tether realizes that the future of USDt and XAUt are more and more directed towards supporting communities around the world that have been ignored and forgotten by the finance industry. Nothing else matters.

There has never been a time when Tether [USDT] wasn’t being discussed, either positively or negatively. Being the most valuable stablecoin in the world, this comes as no surprise. However, recent developments in Canada may put the stablecoin’s dominant position in jeopardy.

Stablecoin USD Coin (USDC) has grown in popularity since the collapse of FTX and now frequently reaches daily transfer volumes four to five times that recorded by major competitor Tether (USDT) according to data from blockchain analytics firm Glassnode.

According to Glassnode's data, while USDT is the largest stablecoin by market cap, USDC has more transfer volume.

Cryptocurrency exchange Crypto.com will no longer facilitate transactions involving Tether in Canada and plans to delist the largest stablecoin by market capitalization for customers in the region.

Justin Sun, shadow owner of the Chinese crypto exchange, Huobi Global on Thursday affirmed that they are planning to lay off around 20% of its staff. Since this announcement, Huobi’s native crypto price has dropped by around 12% in the last 24 hours. However, data depicts that Justin Sun is moving huge amounts of funds amid this drop.

Chapter five —— Stablecoins

According to CoinGecko, as of press time, the top 10 crypto market capitalization in 2022 are: BTC, ETH, USDT, USDC, BNB, XRP, BUSD, DOGE, ADA, MATIC.

The crypto economy has suffered two major crypto failures this year: the collapse of Luna/TerraUSD in May and the failure of FTX in November. In both instances, the world's largest stablecoin, Tether, was caught in the blast radius as waves of redemptions poured into the company. It shrunk by $18 billion, or 21%, in May and June and by another $4 billion, or 6%, in November.

Bankrupt crypto trading firm Alameda Research’s wallets have been involved in some questionable transactions of late, as it engages in a series of swaps, converting several ERC-20 tokens to USDT and ETH. The converted assets were then routed through multiple addresses to ChangeNow, FixedFloat, and Binance.

Stablecoin trading volume reached a record high of $7.4 trillion in 2022, according to a report by The Defiant. This marks an increase of more than 600% from two years ago when the market saw only $1 trillion worth of transactions.

Tether, the company operating the blockchain-enabled platform tether.to that powers the first and most widely used stablecoin, and the Swiss city of Lugano announced today that the second annual Plan ₿ forum has been scheduled and will be held on Friday, October 20 through Saturday, October 21, 2023. The announcement comes just weeks after the conclusion of the massively successful, first-ever Plan ₿ forum, which attracted nearly 2,000 attendees. 

In addition to dismissing the recent cycle of Tether FUD that’s hitting the rumor mill, Tether is announcing starting from now, throughout 2023, it will reduce secured loans in Tether’s reserves to zero.

After another critical article from the Wall Street Journal, Tether announced that it would get rid of “Secured loans” by the end of next year.

In 2019, Tether (USDT) had a global stablecoin dominance of 89%, but it has since fallen to just under 50%, according to on-chain data provided by Glassnode — analyzed by CryptoSlate.

BDO could become the latest auditing firm to halt or limit services to crypto companies, based on reports from the Wall Street Journal on Dec. 16.

Tether Limited, issuer of Tether USD (USDT), plans to eliminate collateralized loans from its reserves.