TETHER

Tether on Thursday said it generated $700 million of profit in the December quarter, which the firm has used to boost its reserves.

USDT, the stablecoin issued by Tether Holdings Ltd., isn’t the most valuable cryptocurrency or the most likely to make you rich. Tether simply promises that if you give it $1, it’ll give you a coin that will almost always be worth $1. That dull utility has made it the most widely traded digital token in crypto. It’s also become a focus of concern in the wake of the collapse of the FTX exchange, whose knock-on effects continue to reverberate throughout the sector. If USDT stumbles, the risk of br

The collapse of FTX, the bankrupt cryptocurrency exchange that was worth $32 billion at its peak, has thrown the crypto space under intense scrutiny.

Tether has cut its commercial paper holdings to zero, replacing them with U.S. Treasury bills instead, according to a blog post.

There’s plenty of naysayers ready to pounce on failures. Industry leaders needn’t make it so easy for the critics.

The cryptocurrency company Circle says it will start issuing its first euro-denominated cryptocurrency, a stablecoin known as Euro Coin, later this month.

Celsius, which offers exceedingly high interest rates, says it can't give depositors their money right now.

The U.K. wants to make sure stablecoins don't end up threatening the wider financial system.

Tether has seen its circulating supply plunge from a record $84 billion on May 11 to around $73 billion as of Monday.

Tether said it now owns around $286 million in non-U.S. government bonds.

Tether's circulating supply has slipped from about $83 billion a week ago to less than $76 billion on Tuesday.

U.S. Treasury Secretary Janet Yellen has urged Congress to approve federal regulation of stablecoins.

The collapse of another so-called stablecoin called terraUSD had shaken crypto investors' confidence in tether.

The platforms that have promoted Bitcoin and other new currencies have a lot to answer for.

Tether sank to as low as 98 cents Thursday morning, according to data from CoinGecko.

Stablecoin firm Tether holds short-term corporate debt in its reserves but does not disclose from which companies, raising transparency concerns.

A former police officer lost $15,000 overnight as part of a large-scale crypto swindle. It underlines the startling increase in these scams — and their growing power to affect anyone.

U.K. Finance Minister Rishi Sunak has asked the Royal Mint to create and issue the NFT "by the summer," a government minister said Monday.

It may seem paradoxical, but in the entirety of the wild and woolly world of cryptocurrencies, what some of the top financial regulators are most worried about is the flavor of digital money designed to be the safest. Even the name, stablecoin, exudes, well, stability. But stablecoins in general and the giant among them, Tether, have drawn increasing scrutiny amid worries that they could pose risks to cryptocurrency users and even to the global financial system. With Tether, there’s also the que

The Justice Department is investigating possible bank fraud by executives of Tether Ltd., according to Bloomberg News.

Payments and digital currency firm Circle plans to go public later this year through a SPAC.

Meanwhile, the People's Bank of China's digital yuan now has more than 10 million users, Fan Yifei, a deputy governor at the central bank, said Thursday.

Some investors believe a loss of confidence in tether could be crypto's "black swan," an unpredictable event that would severely impact the market.

State Rep. Jewell Jones was in front of a judge Thursday, accused of violating his bond after his suspected DUI arrest in April.

Bitcoin was up nearly 8% Wednesday, climbing back above the $34,000 mark.

Guillaume Payen | SOPA Images | LightRocket | Getty ImagesCryptocurrency firms Tether and Bitfinex reached an agreement with the New York attorney general's office to pay an $18.5 million fine to settle a closely-watched legal dispute. Tether and Bitfinex will be required to cease trading activity with New Yorkers and submit quarterly transparency reports, the attorney general's office said. But there have been concerns about whether Tether had enough cash reserves to back all the tether tokens in circulation. Critics have also raised fears that tether tokens were used to manipulate bitcoin prices, a claim Tether has repeatedly denied. Executives at Bitfinex and Tether then allegedly engaged in a series of transactions that opened up Tether's cash reserves to Bitfinex.

"We find that the identified patterns are not present on other flows, and almost the entire price impact can be attributed to this one large player," Griffin and Shams wrote. A forensic study on bitcoin's 2017 boom has found that nearly the entire rise of the digital currency at the time is attributable to "one large player," although the market manipulator remains unidentified. The digital currency exchange Bitfinex is one of the largest in the world. The study found that, through Bitfinex, the single player was able to manipulate demand for bitcoin via "extreme" flows of tethers. Cowen said Griffin and Shams' study will likely add even more scrutiny of bitcoin and cryptocurrency at large, especially from regulators and lawmakers.

Facebook has suggested its Libra project could use multiple cryptocurrencies backed by different existing currencies like the dollar, rather than having one single digital token tied to a basket of currencies. The tech giant had initially proposed one synthetic unit of value that would be tied to a basket of currencies and government debt. "Instead of having a synthetic unit we could have a series of stablecoins, a dollar stablecoin, a euro stablecoin, a sterling pound stablecoin, etc." Stablecoins are cryptocurrencies that are usually pegged to government-backed currencies like the dollar. Such currencies aim to reduce the volatility seen in virtual currencies like bitcoin and ether.