💬 Tether CEO Paolo Ardoino predicts that the United States will be the first to regulate cryptocurrencies.

He connected via video to DC Fintech Week, a conference in Washington, to explain how Tether is cooperating with global governments.

“There is no place like the United States.”

“I think it’s very, very important that sensible crypto and stablecoin regulations come to fruition in a way that will protect end users.”

10 years ago, on October 6, 2014, the first stablecoin was launched.
Called Realcoin, the first tokens were issued on the Omni overlay of the Bitcoin network.

Now called #Tether (USDT), over 120 billion tokens are in circulation and the company generated more profits than BlackRock in 2023!

Tether generates its yield from U.S. Treasuries, which the company holds more of than some countries, such as Germany.

🇪🇺 Coinbase announces plans to delist all unauthorized stablecoins from its platform in the European Economic Area (EEA) by the end of December 2024.

Coinbase will provide an update on its plans next month, including users converting their stablecoins to EU-compliant versions such as USDC.

Currently, only USDC and EURC have achieved MiCA compliance, so there is a potential delisting of USDT by the end of 2024.

Indeed, Tether has not yet received authorization to issue $120 billion in USDT in Europe.

🇺🇸 Tether announced today that it has helped the U.S. Department of Justice seize more than $6 million in assets linked to an Asia-based scam.

To date, Tether has assisted over 180 authorities in 45 jurisdictions, and has blocked over $1 .8 billion, redistributing over $128 million to its rightful owners.

“Tether is unwavering in its commitment to helping law enforcement agencies around the world put an end to the misuse of cryptocurrency.”

“We stand ready to work with government agencies and provide all the tools necessary to ensure that global bad actors are brought to justice and ultimately, victims are supported.”

Tether, the issuer of $USDT , has become the 18th largest U.S. Treasury holder, surpassing Germany, UAE, and Australia.

Tether now holds $118 .4 billion in reserves, exceeding liabilities by $5 .3 billion.

🇬🇧 English Supreme Court rules that Tether's stablecoin $USDT is considered property.

“USDT attracts property rights under English law.”
"It can be searched and can be held in trust in the same way as other property."

https://www.coindesk.com/p...

UK High Court Rules Tether's $USDT Stablecoin as Property, as Government Gears Up for New Crypto Legislation.

💸 In 2023, Tether generated $6 .2 billion in profits with about 100 employees, more than BlackRock's $5 .5 billion and its 20,000 employees

💸 Tether invests $100 million in the leading agricultural company Adecoagro 🧑‍🌾

Tether acquires a 9.8% stake in Latin American agricultural giant Adecoagro for $100 million to diversify its investments in the agriculture and food sectors

Adecoagro is a major milk producer in Argentina and manages over 193,000 hectares of sugarcane crops in Brazil, producing refined sugar and ethanol.

🚨 USDT of Tether_to will be launched on the Aptos blockchain.

“The Tether team is excited to integrate and collaborate with the Aptos ecosystem, furthering our commitment to making digital currencies more accessible and functional.”
says Paolo Ardoino, CEO of Tether

https://tether.io/news/tet.../

⚖️ Celsius sues Tether, seeking over $2 .4 billion in #Bitcoin .

Celsius claims that Tether breached its agreement when the company used the company's assets (Bitcoin) as collateral to pay Celsius's outstanding loan.

Tether defends itself by calling the attack a "shake down" and says "this lawsuit seeks to unduly impose the costs of Celsius' mismanagement and failure on Tether."

🗣️ “The problem I have with MiCA is that instead of making the system safer, it actually creates an incredibly large systemic risk”

Tether CEO Paolo Ardoino expresses concerns about MiCA, which poses a systemic risk not only to stablecoins, but also to the broader banking system.

The MiCA regulation, which came into force on June 30, imposes strict limits on stablecoin operations in the EU.

In particular, it requires that at least 60% of the reserves backing stablecoins must be held in EU bank accounts.

He further pointed out that EU cash deposits are only insured for a maximum of $100 ,000, an amount insufficient for large stablecoin issuers like Tether

https://cointelegraph.com/...

🚨 Tether plans to double its staff to 200 people by mid-2025 to strengthen compliance.

Tether will also add staff to its finance department, which manages the $118 billion in assets backing USDT

The summary of the news #crypto and markets

1) Powell (FED) leaves rates unchanged, no pivot decided, possible in September but reserves the possibility of acting until early 2025 if necessary

2) Senator Cynthia Lummis submitted her bill to make #Bitcoin a store of value alongside gold

3) Gold hits a new ATH close to $2 ,500 per ounce

4) According to several technical analysts $BTC is still in downtrend (lower high point and lower low point) which could lead it to a new low point in August around $48 -50k if the current supports do not hold

5) The results of META and Schneider Electric are good

6) MtGox BTC continues to be distributed while whales accumulate 600,000 BTC changed hands between $66k and $67k

7) GrayScale continue to sell their ETHE at a very sustained pace

8) Yesterday the inflows-outflows were just in balance for BTC and net negative again for ETH

9) The Hashrate of #Bitcoin at 2% of its ATH has recovered almost the entire period of capitulation of miners

10) Tether published their results, they generated 5.2 billion profits in the last quarter

11) Nancy Pelosi bought thousands more Nvidia shares

12) General activity (on and off chain metrics) around DeFi has increased sharply in recent weeks

13) UAE residents now have the ability to trade crypto directly from their bank account

14) Inflation rose by 0.1% in the Euro zone from 2.5 to 2.6%

🚨 Tether_to announces record results for the second quarter of 2024: a profit of $5 .2 billion in the first half, a historic holding of Treasury bills and consolidated capital of nearly $12 billion.

🚨 Cantor Fitzgerald, the global financial services group, announces plans to launch a bitcoin financing business.

The company will have $2 billion in funding at launch.

Cantor already owns a large quantity of bitcoins according to its CEO Howard Lutnick.

“Bitcoin should trade the same as gold everywhere in the world, without exception and without limitation.”

“We will build the best bitcoin financing platform, we will work with the best custodians, we are committed to your bitcoin ecosystem.”

https://www.theblock.co/po...

📊 Tether's USDT dominates the stablecoin market and represents 69.7% of their capitalization.

In your opinion, can the compliance of USDC with MiCA change the situation? 🤔

🇵🇭 Tether now allows Filipinos to pay their social security contributions in USDT on the TON Blockchain.