Bitcoin24h $103,663.00+0.51%

Ethereum24h $3,299.21+1.62%

XRP24h $3.09-2.53%

Solana24h $254.38-0.17%

BNB24h $686.75-1.08%

Dogecoin24h $0.3488-3.02%

Cardano24h $0.9752-0.63%

TRON24h $0.2520-0.80%

Chainlink24h $25.40+1.12%

Avalanche24h $35.15-4.07%

Stablecoin market cap dips to lowest levels in nearly two years

Total stablecoin market cap has fallen for 14 consecutive months and currently sits at its lowest level since September 2021.

Tether to spend profits on growing its mysterious bitcoin reserves

As of March, Tether’s $1.5B in bitcoin was triple the amount of cash in its reserves. This change will likely exacerbate that difference.

Tether revealed a Q1 2023 attestation on Wednesday. Tether’s surplus is up, while cash and bank deposits have plummeted.

The Hong Kong-based architect made 65 transactions on a fake crypto website that showed inflated and manipulated Tether prices.

Tether is no longer required to submit attestations but does this mean that all transparency around the leading stablecoin will be lost?