Record Profits for Tether Driven by Treasury Holdings
Tether's Q4 2023 net profit hits $2.85 billion, driven by U.S. Treasury interest. Annual profits reach $6.2 billion, showcasing crypto prominence.
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Tether's Q4 2023 net profit hits $2.85 billion, driven by U.S. Treasury interest. Annual profits reach $6.2 billion, showcasing crypto prominence.
Tether Treasury's substantial transfer of USDT tokens to Bitfinex, valued at $229,956,875, has stirred interest within the crypto community. As the market reacts to Bitcoin's recent swings and Tether's significant move, the impact on overall market dynamics remains to be seen.
Tether Treasury transfers $182 million USDT to an unknown 'whale', with total transactions now at $2 billion, maintaining market stability.
Tether Treasury has minted an additional 1 billion USDT, significantly expanding its circulating supply on the Ethereum network.
Tether enhances market stability, minting 1 billion USDT on Ethereum, with CEO Paolo Ardoino ensuring transparency and earmarking funds for future demand.
The US Treasury has taken action against Mexican national Mario Alberto Jimenez Castro for his involvement in smuggling the potent synthetic opioid, fentanyl, into the US through crypto channels.
The removal of its iOS and Chrome Extension wallets from the market is scheduled for November 1, 2023, although customers will still be able to access their wallets until October 1.
The firm had said it plans to bring its commercial paper holdings to zero by the end of the year.
The trio launched Holepunch with a vision to bestow control over data while breaking technology monopolies, among others.
With a peso-backed stablecoin, Tether is essentially “recreating the foreign exchange market with a Tether product,” Ardoino said.