USDT

USDT

Markets

Asia Morning Briefing: China’s Car, America’s Currency — Why Stablecoins Keep the Dollar in the Driver’s Seat

A BYD Dolphin Mini sold for USDT in a BRICS country highlights the irony of China’s de-dollarization drive, where the yuan is sidelined to academic theories about a post-U.S. order, while crypto-dollars power real-world trade.

Tether (CoinDesk)

Finance

Tether Reports $4.9B Net Profit in Q2, Invested $4B in U.S. Initiatives

The firm held roughly $8.9 billion in bitcoin in the reserves, translating to roughly 83,200 coins.

Tether CEO Paolo Ardoino at White House

Finance

Tether-Focused Blockchain Stable Raises $28M to Power Stablecoin Payments

The blockchain aims to enable fast, low-cost and stable digital payments using USDT as its gas token.

Pot full of coins (micheile henderson/Unsplash)

Policy

Crypto Industry Asks President Trump to Stop JPMorgan’s 'Punitive Tax' on Data Access

A coalition of fintech and crypto trade groups is urging the White House to defend open banking and stop JPMorgan from charging fees to access customer data.

JPMorgan CEO Jamie Dimon (CoinDesk Archives)

Markets

Asia Morning Briefing: Animoca Exec Says U.S. Heat Is Pushing China's Stablecoin Agenda

Beijing once warned of stablecoin risks. Now it’s turning to them to help stem the growth of U.S. dollar-pegged tokens in Asia.

Evan Auyang, president of Animoca Brands, speaks in an interview at the company's new Web3 workspace in Hong Kong (Chris Lam/CoinDesk)

Web3

Tether to Halt USDT on Omni, BCH, Kusama, EOS, Algorand as Focus Shifts to Layer 2s

The decision is due to declining usage of USDT on these networks over the past two years and as the company moves its focus to newer platforms such as Layer 2s.

U.S. Capitol and Tether (Jesse Hamilton/CoinDesk)

Markets

Tether/Circle Stablecoin Supply Growth Signals Strong Liquidity Backing Crypto Rally

The market capitalization of the two largest stablecoins — USDT and USDC — reached new records this week, a sign that capital is flowing into digital asset markets.

USDT and USDC combined market capitalization (CoinDesk Data)

Markets

Asia Morning Briefing: Asia's Banks Look to Stablecoins to Prevent Deposit Flight

PLUS: Bakkt is entering the BTC Treasury market with a $1 billion BTC purchase.

Jeremy Allaire, Co-Founder, Chairman and CEO, Circle Speaks at Hong Kong Fintech Week in 2024 (HK Fintech Week)

News Analysis

Can Tether's Dominance Survive the U.S. Stablecoin Bill?

Some uncertainties remain around the GENIUS Act that could establish U.S. stablecoin rules, and theories abound about how Tether may respond.

U.S. Capitol and Tether (Jesse Hamilton/CoinDesk)

Finance

Tether, Tron Dominate Fast-Growing Stablecoin Payments Arena, Survey Shows

Analytics specialist Artemis, assisted by VC firms Dragonfly and Castle Island Ventures, looked at data from 31 stablecoin payment companies.

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