Tether Archives - Rvpg media

Tether says new court order to produce USDT reserve backing is a ‘routine discovery matter’

On Wednesday, Tether, the issuer of the U.S. dollar-pegged USDT stablecoin, said that a recent order by a U.S. judge to provide evidence of USDT backing is part of routine discovery in court cases. The firm said that the decision did not substantiate any of the claims listed in an ongoing lawsuit:  “We had already … Read more

New York Judge orders Tether to document USDT backing

The judge for the United States District Court for the Southern District of New York, Katherine Polk Failla, ordered Tether to prove 1-to-1 backing of its eponymous stablecoin, Tether (USDT). The company is required to provide “general ledgers, balance sheets, income statements, cash-flow statements, and profit and loss statements” and other documents to the court.  … Read more

Tether USDT stablecoin goes live on Near Protocol to boost DeFi presence

Major stablecoin issuer Tether Operations Limited continues expanding integrations with diverse blockchain networks, launching the Tether (USDT) stablecoin on the NEAR Network. Tether USDT is now live on the NEAR Network, a smart contract-enabled blockchain platform designed for decentralized applications, Tether officially announced on Monday. The integration of Tether into the NEAR ecosystem is a … Read more

Court hears Roche Freedman could create ‘a sideshow’ in the Tether class action

The fallout from the leaked Kyle Roche videos has continued after two law firms submitted a document to the court asking that his law firm Roche Freedman be removed as interim co-lead from the Tether and Bitfinex Crypto Asset Litigation. Roche Freedman are acting for plaintiffs in the class-action lawsuit initiated in 2019 alleging Tether … Read more

No plans to auto-convert Tether, though that ‘may change’

Crypto exchange giant Binance has confirmed it has no plans to “auto-convert” Tether (USDT) to Binance USD (BUSD) at the moment, though noted that this “may change.” On Sept. 6, the crypto exchange surprised the market with the announcement it will cease trading support for U.S. dollar-pegged stablecoin USD Coin (USDC) on its platform, along … Read more

You can’t stop the Tether FUD

In the world of crypto, FUD stands for fear, uncertainty and doubt. It’s often evoked intentionally in order to draw negative attention to a particular project or business. One of crypto’s most enduring legacies has been the constant FUD surrounding Tether, whose USDT stablecoin commands a market capitalization of nearly $68 billion. Whether intentional or … Read more

El Salvador Bitcoin bond delayed due to security concerns: Tether CTO

El Salvador, the Central American nation that adopted Bitcoin (BTC) as a legal tender in September last year, has delayed the launch of its billion-dollar Bitcoin bond again. The Bitcoin bond, also known as the “Volcanic bond” or Volcanic token, was first announced in November 2021 as a way to issue tokenized bonds and raise … Read more

Tether requests Roche Freedman to be booted from class action

USDT-issuer Tether wants law firm Roche Freedman “terminated” as counsel from the Bitfinex and Tether class action lawsuit following a motion from Kyle Roche to be removed as counsel in the case. In an Aug. 31 court order request by Elliot Greenfield of Debevoise & Plimpton LLP, the law firm representing Tether and Bitfinex requested … Read more

Tether responds to Wall Street Journal ‘disinformation’

Tether Holdings Limited has clapped back at The Wall Street Journal over an article it claims spread “false information” about the stablecoin issuer’s profitability, solvency and accounting standards.  In an Aug. 29 article, the Journal claimed that Tether could be deemed “technically insolvent” if its assets fell just 0.3%. That conclusion was drawn from Tether’s … Read more

0.3% fall in assets “could render Tether technically insolvent” — WSJ

An article in the Wall Street Journal (WSJ) has claimed that Tether’s balance sheet is in a position that even a 0.3% drop in value of its reserve assets could “render Tether technically insolvent.” In an Aug. 27 report, WSJ journalists Jean Eaglesham and Vicky Ge Huang focused on the cloudy nature of Tether’s USDT … Read more