USDC Outflows Surpass $10B as Tether’s Stablecoin Dominance Reaches 22-Month High
Circle's USDC stablecoin saw net outflows surpassing $10 billion since March 10 after the regulators shut down the firm's banking partner Silicon Valley Bank. Many of the investors who fled USDC switched to Tether's USDT stablecoin, driving the token to reach its largest market share in 22 months. "The Hash" panel weighs in on these developments.
Stablecoins Explained: 3 Things You Need to Know
Stablecoins are meant to provide a predictable haven within the volatile world of cryptocurrency. Former Paxos Head of Portfolio Management and Columbia Business School Adjunct Professor Jesse Austin Campbell explains the use cases and risks you need to know about this type of cryptocurrency.
Crypto Critics' Corner Co-Host 'Surprised' by Tether's Resiliency
Crypto Critics' Corner co-host Bennett Tomlin, who is a notable critic of stablecoin Tether, said he is continuously "surprised" by the resiliency of Tether, particularly following its relationship with Alameda Research.
Dominance of Tether’s USDT Is Rising Among Stablecoins: Data
Earlier this week, USDT’s market share among stablecoins surpassed 54%, data from CoinGecko shows. This is the largest market share Tether’s stablecoin has reached since late November 2021, after the crypto bull market reached its apex. Crypto Critics' Corner co-host Bennett Tomlin discusses the outlook for stablecoins and reacts to the Wall Street Journal report that alleges Tether accessed bank accounts by way of falsified documents and intermediaries.
Tether Used Bank Accounts Opened With Falsified Documents in Past: WSJ
The Wall Street Journal reports that Tether used bank accounts in the names of executives of various companies, slightly tweaking those companies' names, to maintain its access to the global financial system in 2018. CoinDesk Global Policy and Regulation Managing Editor Nikhilesh De breaks down the latest details from the publication.
Tether Reports $700M Profit For Q4 2022 In Latest Attestation Report
Tether, issuer of the world's largest stablecoin, reported a $700 million profit in the fourth quarter of 2022 and said it completely moved away from holding commercial paper as part of the reserves backing its USDT token. "The Hash" panel discusses the latest from Tether and the larger implications for the stablecoin market.
Bitcoin Slips After Stronger Than Expected U.S. November Jobs Report
Edward Moya, Senior Market Analyst of the Americas at OANDA, discusses his outlook for the crypto markets as bitcoin (BTC) sinks below $17,000 after the U.S. added 263,000 jobs in November, down from an upwardly revised 284,000 in October but topping expectations of 200,000 as the U.S. economy continues to show signs of strength. Plus, concerns over Tether loans.
TRX Momentarily Surges 4,000% on FTX; Tether Freezes $46M of USDT Held by FTX Following Law Enforcement Request
Tron network’s native TRX token momentarily surged some 4,000% from 6 cents to $2.50 on embattled crypto exchange FTX even though they are trading for 6 cents on other prominent exchanges, such as Binance and OKX. Separately, stablecoin issuer Tether froze $46 million of USDT held on Tron by FTX following a request from law enforcement. "The Hash" panel discusses the ripple effects amid fallout for FTX.
SmartMedia Technologies Exec on Tether Ditching Commercial Paper
Reeve Collins, co-founder of stablecoin issuer Tether and SmartMedia Technologies, discusses Tether's cash management after it reduced its commercial paper holdings to zero, replacing those holdings with U.S. Treasury bills.
Tether Cuts Commercial Paper Holdings to Zero
Stablecoin issuer Tether has reduced its commercial paper holdings to zero, replacing those holdings with U.S. Treasury bills. "The Hash" discusses the latest in the world of stablecoins.