Like a Hobbit sequel would, the stablecoin war is being fought by three entities: Tether holdings, Circle/Coinbase, and Binance, with their respective stablecoins USDT, USDC, and BUSD, all fiat-backed stablecoins.

Tether restated that it had absolutely no credit towards FTX or Alameda Research. No special deal whatsoever was established between FTX/Alameda and Tether.

Deposits and withdrawals of USDT among gambling websites through crypto payment platforms are on the rise, according to a <a href="https://wublock.substack.com/p/research-how-usdt-is-used-in-online">report</a> from Wu Blockchain, authored by Bitrace.

The last few months, especially following the FTX collapse, have been rough for <a href="https://ambcrypto.com/can-usdt-retain-its-stablecoin-crown-these-recent-developments-suggest/">USDT</a> as the currency has been the target of fear, uncertainty, and doubt (FUD).

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.

In a Dec. 13 post, the stablecoin issuer addressed recent mainstream media FUD (fear, uncertainty, and doubt) concerning its secured loans, among other FUD which have hit the "rumour mill." Tether reiterated that its secured loans are over-collateralized and covered by “extremely liquid assets,” while also adding that the firm would be eliminating these loans throughout 2023, stating: Tether is announcing starting from now, throughout 2023, it will reduce secured loans in Tether’s reserves to zero. (Cointelegraph)

WSJ reported that the company held $6.1 billion of the loans in its balance sheet.

Tether intends to remove all secured loans from its backing in 2023 after The Wall Street Journal said that the stablecoin operator's increasing roster of loans might make it unable to pay back redemptions in the event of a crisis.

Tether (<a href="https://cryptoslate.com/coins/tether/">USDT</a>) said it would remove its secured loans in its reserves by 2023, according to a Dec. 13 blog <a href="https://tether.to/en/tether-addresses-fud-around-secured-loans-reveals-plans-to-reduce-these-to-zero-in-2023/">post</a>.

Tether announced that it's assisting crypto exchange Binance with a “chain swap,” which involves converting 3 billion USDT to the Ethereum network from the Tron network.&nbsp;

Cryptocurrency will survive with or without Tether or Coinbase. Having an unbiased opinion on the Stablecoin Wars is the best choice possible.

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The relief rally in the United States equities markets took a breather this week as all major averages closed in the red. Traders seem to have booked profits before the busy economic calendar next week.

Tether executives and Binance CEO Changpeng “CZ” Zhao worried that Sam Bankman-Fried (SBF)was attempting to destabilize the crypto market aiming to save FTX.

The question for you: What are the risk factors that make you stay away from a crypto investment? Is it an anonymous founder? A sketchy business model? Forked code?

Former FTX CEO Sam Bankman-Fried has deflected a lot of the allegations leveled at him since his resignation, but today pointedly said he did not target Terra or Tether’s stablecoins.

The USDC stablecoin saga continues as leading cryptocurrency exchange Coinbase attempts to ease the conversion process of USDT holders looking to convert their USDT to USDC. The onlooker brand strategic move comes not long after Binance halted all of the USDC trading pairs on its platform.

In what may signal the beginning of a new phase in the battle for stablecoin dominance, Coinbase, the world’s second-largest crypto exchange by trading volume, is now encouraging its users to swap from Tether's USDT to&nbsp; Circle's USDC with zero-fee trades.

Coinbase waives conversion fees for its users to ditch their USDT holdings for its co-founded stablecoin, USDC.

Crypto exchange Coinbase has asked users to switch from Tether (USDT) to Circle’s USD Coin (USDC), referring USDC as a “trusted and reputable stablecoin.” While the major reason remains unclear, Coinbase believes events of the past few weeks have made them take the decision to switch to a stablecoin it co-founded in 2018. (coingape)