USDT in the spotlight: latest news

A significant transfer of $235 million in USDT has occurred, moving from an unknown wallet to the OKX exchange. This event raises questions about the implications of such large cryptocurrency transactions.

Tether, the issuer of the prominent stablecoin USDT, has announced the suspension of its Bitcoin mining operations in Uruguay due to increasing energy costs and outstanding debts.

A significant transfer of 234 million USDT has taken place, moving from the OKX exchange to an unidentified wallet. This transaction has created a considerable stir within the cryptocurrency community.

OKX exchange has published its latest proof-of-reserve report, indicating a decline in users' Ethereum holdings.

Truther, a cryptocurrency payment company, is set to launch a non-custodial USDT Visa card in El Salvador, marking a significant step towards the widespread adoption of stablecoins.

Gold is significantly outperforming Bitcoin, and this trend can be attributed to the profile of the investors making the purchases. Since January 2024, gold has attracted a growing number of investors seeking stability and value preservation.

Tether has halted its Bitcoin mining operations in Uruguay due to unsuccessful negotiations over electricity rates, increasing expenses, and contractual disputes.

Tether has decided to halt its Bitcoin mining operations in Uruguay, citing high electricity costs as the primary reason for the suspension, according to local media reports.

The digital asset market is exhibiting signs of a potential recovery. Binance has reported an increase in its stablecoin reserves, indicating growing confidence among investors. However, concerns surrounding Tether, a major stablecoin, continue to cast a shadow over the market's stability.

S&P Global recently downgraded Tether's rating to "weak," highlighting ongoing issues with transparency. However, this downgrade has not affected the stablecoin's peg to the US dollar or its overall credibility in the market.

Tether Uruguay has officially ceased its mining operations in the country following unsuccessful negotiations with UTE, which led to substantial layoffs.

S&P Global has lowered Tether's ($USDT) stability ranking due to increasing concerns about reserve risks, marking a significant shift in the assessment of the cryptocurrency.

Tether, the company behind the USDT stablecoin, has announced the suspension of its Bitcoin mining operations in Uruguay due to rising energy costs.

Tether Holdings selected Uruguay for its Bitcoin mining operations due to the low energy costs. However, the venture has now been shut down as the profitability has diminished.

Tether, the issuer of the USDT stablecoin, is discontinuing its Bitcoin mining operations in Uruguay because of rising energy costs, according to local media reports.

S&P Global Ratings has downgraded Tether's USDT stablecoin to its lowest rating of "5 (weak)," highlighting concerns about Tether's risky asset holdings and lack of transparency.

Tether has decided to cease its mining operations in Uruguay, citing high energy costs and regulatory challenges as the primary reasons for its withdrawal. The company initially intended to invest up to $500 million in the country.

Tether CEO has criticized a credit rating agency's concerns regarding the increasing risky assets in the reserves of the world's leading stablecoin, labeling it a "propaganda machine."

Tether, the issuer of the USDT stablecoin, is discontinuing its Bitcoin mining operations in Uruguay because of rising energy costs, according to local media reports.

Circle has successfully executed two significant USDC mints on the Solana network, amounting to a total of $500 million, as reported by Arkham Intelligence.

Tether, a major player in the cryptocurrency market with a valuation of $180 billion, is facing a lawsuit from billionaire Patrick Drahi. The case explores a new antitrust theory that is currently affecting credit disputes.

USDT issuer Tether has emerged as the world's largest independent holder of gold, boasting nearly $8.7 billion in gold assets.

S&P has downgraded Tether (USDT) to its lowest rating, sparking controversy in the stablecoin market. The rating agency's decision raises questions about the reliability of USDT compared to other stablecoins.

S&P Global has assigned Tether the lowest possible stability score, labeling it as "weak." Despite this, Tether is reportedly purchasing more gold than many central banks.

S&P Global Ratings has downgraded Tether's USDT to its lowest stability score, noting that its exposure to Bitcoin has surpassed the necessary overcollateralization margins.