Bitcoin24h $114,715.91-0.70%

Ethereum24h $4,493.90-2.47%

XRP24h $3.02-0.78%

BNB24h $916.30-0.95%

Solana24h $232.50-5.16%

Dogecoin24h $0.2631-4.68%

TRON24h $0.3428-1.52%

Cardano24h $0.8577-3.73%

Hyperliquid24h $52.62-3.65%

Chainlink24h $23.11-4.26%

Tether invests in energy production in Uruguay to mine bitcoin

Tether is following in the footsteps of Bitfinex operator iFinex, which has previously invested in bitcoin mining efforts led by Blockstream.

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.

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.