A report issued by TRM Labs indicated that Tether’s USDT, the largest stablecoin in the cryptocurrency industry, was the preferred stablecoin used for illicit transactions during 2023. TRM Labs alleges that 1.6% of USDT’s volume was linked to illicit activity last year, with $ 19.3 billion worth of USDT used in illegal transactional flows. …
JPMorgan has warned of increased risk for the crypto market resulting from Tether’s “lack of regulatory compliance and transparency.” The global investment bank’s analysts explained that other stablecoin issuers that have been more compliant with existing regulations are likely to benefit from the coming regulatory crackdown on stablecoins and gain market share. JPMorgan Warns About […]
In the last quarter of 2023, Tether Holdings Limited registered a “record-breaking net profit of $ 2.85 billion.” Overall, the stablecoin issuer’s net profit in 2023 topped $ 6.2 billion. Tether’s secured loans ($ 4.8 billion), which are collateralized by highly liquid assets, were “fully covered by the undistributed accumulated profits known …
Howard Lutnick, CEO of the renowned financial services company Cantor Fitzgerald, recently shared his insights on bitcoin and tether during an appearance at the World Economic Forum in Davos on Tuesday. Lutnick drew parallels between the fervor around spot gold exchange-traded funds (ETFs) and the anticipated trajectory of bitcoin. Howard Lutnick Projects Bitcoin Rally Post-Halving, […]
Arthur Hayes, CIO of Maelstrom and former CEO of Bitmex, discussed the eventual demise of Tether and other stablecoin companies. Hayes explained that Tether’s business model, which consists of taking dollars and investing in treasuries, will eventually be cannibalized by big banks like JPMorgan when they get allowed to issue fiat-backed stablecoins. Arthur Hayes Warns […]