Tether Reneges on Loan Promise: Lends $5.5 Billion in Stablecoins Despite Earlier Pledge
Tether, the company behind the popular USDT stablecoin, has raised eyebrows in the crypto community by lending out $5.5 billion in stablecoins, despite its earlier promise to halt such loans by the end of 2023, according...
This revelation has raised questions about Tether's ability to handle a potential rush of redemptions and highlights its increasing dominance in the stablecoin market, while its top competitor, USDC, has been losing market share....
Read More: Tether Reneges on Loan Promise: Lends $5.5 Billion in Stablecoins Despite Earlier Pledge
Original source
Read on CryptonewsRelated market context
Ripple chases AI’s machine economy as XRPL stablecoins near $1 billion
Stablecoin liquidity on the XRP Ledger (XRPL) has nearly doubled over the past month, putting the network within reach of a $1 bil...
Rob Hadick Warns Tether and Circle Face Rising Pressure From New Stablecoins
Dragonfly General Partner Rob Hadick believes stablecoins are entering a new phase. While USDT and USDC remain dominant today, he...
Tether’s Brief Flip of Ether in Value Gives Crypto a Reality Check
Tether's USDT briefly overtook Ether in market value for a few hours, highlighting the growing dominance of stablecoins in crypto....
SpaceX’s $75 Billion IPO at $135 Sparks Fresh Crypto Bets
Key Takeaways: SpaceX’s IPO was priced at $135 a share to raise a record $75 billion. Offering will value the company at about $1....
JPMorgan Says the Debasement Trade Retreat Has ‘Accelerated’ for Bitcoin as June ETF Outflows Reach $2.1 Billion
The debasement trade that fueled demand for bitcoin and gold through much of this year is unwinding, and the retreat has accelerat...
$1.5 Trillion Transacted: Rain Report Reveals the Massive Scale of Latam’s Stablecoin Economy
The crypto card company stressed that these volumes result from a more conscious use of stablecoins, driven by concrete problem-so...