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US Secretary of Commerce Howard Lutnick is personally assisting with Tether’s equity fundraise, according to Swan Bitcoin CEO Cory Klippsten. Citing a tip from a national news reporter, Klippsten claims that Lutnick is simultaneously running the Department of Commerce (DOC) and drumming up support for the stablecoin giant’s $20 billion open equity round. On September 23, Bloomberg reported that Tether was trying to sell approximately 3% equity in a $15-20 billion private placement. If successful, the raise could value Tether at $500 billion, putting it on a par with the likes of Exxon Mobil and Mastercard. Equity fundraises typically take a few weeks to fill and close, so the round could presumably remain open today. Donald Trump nominated Lutnick to join his Presidential Cabinet on November 19, 2024. He passed Senate confirmation on February 18 and was sworn in on February 21, 2025. Before joining Trump’s administration, Lutnick was a bond manager for Tether a...

Editor | WuBlockchain Babel Finance was a leader in cryptocurrency lending and wealth management. During the market crash on March 12, 2020 (also known as 312), Babel nearly went bankrupt due to its high-risk operational model but was rescued by Tether’s leniency and the subsequent market recovery. On May 26, 2022, Babel announced the completion of its Series B financing, raising $80 million at a valuation of $2 billion, officially becoming a unicorn. However, on June 17, 2022, Babel informed its partners: “We are insolvent.” The official website then suspended product redemptions and withdrawals. Yang Zhou is a co-founder of Babel Finance but largely exited the company in 2021. The interviewer in the video is Bill. Please subscribe to Bill’s personal Youtube channel and Xiaoyuzhou. WuBlockchain authorized the reprint and publication of this content. Background information: Previous article: Investigation into Babel Finance’s Business Model: Why Did it Collapse Two Years Ago on March 1...

A co-founder of the Russian crypto exchange Garantex has reportedly been arrested by police in India under the country’s extradition laws, according to TechCrunch. Kerala State police arrested Aleksej Besciokov at 4pm IST yesterday in the coastal region of Varkala, where he was reportedly holidaying with his family.  Last week, the US charged Besciokov, who is Garantex’s main technical administrator, with facilitating money laundering for transnational criminal organizations and conspiracy to violate sanctions. In conjunction with Germany and Finland, the US also seized Garantex’s online domains . Just before this, Tether froze $27 million worth of USDT on the platform, which Garantex called a “war against the Russian crypto market.” According to the US, Garantex has processed at least $96 billion worth of crypto transactions for the past six years.  Garantex says ‘USDT in Russian wallets under threat’ as Tether freezes $27M Read more: Russ...

Tether, the issuer of the leading stablecoin USDT, is one of the most profitable companies in the crypto industry. Tether is also the 18th largest holder of US Treasury bonds, surpassing three significant economies in Q3 2024. According to recently shared Q3 2024 results, Tether disclosed ownership of $102.5 billion in U.S. Treasury bonds. Paolo Ardoino, Tether CEO, went to X for comments on the matter, celebrating the company’s milestone in having more US treasuries exposure than Germany, Australia, and the United Arab Emirates (UAE). This happens as USDT increases its dominance in the cryptocurrency market, with over 70% of all stablecoins’ total capitalization. Notably, Tether’s USDT surged above the $120 billion market cap level, leading in exchange volume and increasing its relevancy. Picks for you SingularityDAO comm...

Your guide: How to Buy Tether (USDT) in the UAE? You have come to the right place if you want to buy USDT in the UAE. In short, USDT (Tether)is a stablecoin linked to the US dollar. It takes the good things about cryptocurrencies and makes them more stable like regular money. In a crypto market that is changing quickly, especially in advanced places like the UAE, it can be very helpful to know how to buy USDT. So, if you’ve ever wondered, “How to Buy Tether (USDT) in the UAE?” you’ve come to the right place. Keep reading to find out more. Also read: ‘BRICS Bridge’ To Replace SWIFT and End Dependency on the US Dollar How Tether (USDT) and Cryptocurrency Work in the UAE? It is a stablecoin, which is a type of cryptocurrency. Its value is tied to the US dollar, which makes it a safer business choice than other cryptocurrencies. People who want to avoid the ups and downs of the crypto market like how stable it is. The UAE government supports a safe and legal setting ...

A new report from The New York Times sheds light on how Chinese investors , aided by Binance, acquired a Texas mining facility. A 23-year-old Chinese national and NYU student, Jerry Yu, appears to be the majority owner of a Texas-based crypto mining facility BitRush, which was backed by $6 million in Tether (USDT) by undisclosed Chinese investors , according to a recent report from The New York Times. In one of the lawsuits filed by Crypton Mining Solutions, which alleges non-payment for services in the Texas Panhandle town, BitRush’s investors — described as “not only Chinese citizens but citizens in highly political and influential business positions” — raised concerns about how exactly the funds were transferred from China to the U.S. The lawsuits, as reported by NYT, exposed a public money trail ending at Binance, which facilitated transactions with USDT through its offshore branch when the exchange’s operations were not adhering to American banking r...

Even if approved by Nov. 17, the spot Bitcoin ETFs are unlikely to come to market for at least a month after approval. The United States Securities and Exchange Commission (SEC) could approve all 12 pending spot Bitcoin exchange-traded fund (ETF) applications by Nov. 17. Beginning on Nov. 9, the SEC reportedly has a “window” to approve all 12 spot Bitcoin ETF filings, including Grayscale Investments conversion of its Grayscale Bitcoin Trust product. However, even if the SEC approve s spot Bitcoin (BTC) ETFs by Nov. 17, it could be more than a month before the products launch. The expected delay in launch following SEC approval would be due to the two-step process of launching an ETF. For an issuer to start a Bitcoin ETF, it must get approval from the SEC’s Trading and Markets division on its 19b-4 filing and its Corporate Finance division on the S-1 filing or prospectus. Of the 12 Bitcoin ETF applications, nine issuers have submitted revised prospectuses showing they have communicat...

Coinbase director Conor Grogan has flagged on chain data that highlights massive USDT mints ordered by Sam Bankman-Fried’s Alameda Research in 2021. Blockchain data flagged by Coinbase director Conor Grogan indicates that Alameda Research redeemed over $38 billion for Tether (USDT) tokens in 2021 despite not having the equivalent assets under management. Onchain data shows that Alameda was responsible for minting $39.55B of USDT, a number that is 47% of Tether's circulating supply today A previous report by Protoss estimated the number at around $36.7B; I was able to update these figures with additional wallets I found pic.twitter.com/fYBvGAYlFd — Conor (@jconorgrogan) October 9, 2023 According to Grogan, the total value of USDT creation was higher than Alameda’s total assets on its books at the height of the wider cryptocurrency market bull run in 2021. Grogan also suggests that FTX ordered USDT redemptions were likely to have been from Alameda’s tokens, totalling 3.9 bil...

The US Commodity Futures Trading Commission (CFTC) has shut down Kalshi’s predictions market that enabled wagers on whether Republicans or Democrats would win a majority of Congressional seats, reasoning that such a predictions market would operate “contrary to the public interest.” This order continues a pattern of regulatory pressure on prediction markets. Throughout US history, almost all prediction markets that wade too far into the waters of politics or gambling ended up shuttering or fading into obscurity amid government intervention. In their new order, commissioners explained that the platform operated by KalshiEx LLC would permit unlawful betting. They also cast a dim view on many predictions markets based on election outcomes. The US Commodities Exchange Act (CEA) section 5c(c)(5)(C)(i) empowers the CFTC to determine that contracts in certain commodities “are contrary to the public interest if the contracts involve: (1) activity that is unlawful under any Federal or State...

How Much Does It Cost to Send USDT? A Comprehensive Guide USDT (Tether) has emerged as one of the most popular and widely used stablecoins in cryptocurrencies. It’s price stability and familiar unit of account make it a preferred choice for various use cases such as peer-to-peer transactions, cross-border payments, and collateral in decentralized lending and borrowing. However, transferring USDT to different exchanges, platforms, or wallets incurs a fee. It is essential to understand how much it costs to send USDT, the reasons behind these fees, and how to minimize them. This comprehensive guide will explore the cost of sending USDT and provide valuable tips to help you reduce transaction fees. Also read: Did Tron’s Justin Sun Fuel Huobi With 200 Million USDT? Source: What is USDT? Understanding Tether (USDT) Tether ( USDT ) is a stablecoin that was launched in 2014 and has gained significant popularity due to its stability and reliability. As a stablecoi...