Global #Tether

Bitdeer, a cryptocurrency mining firm headed by Jihan Wu, is securing fresh funding from Tether, the entity behind the prominent stablecoin USDT. Tether has committed to investing up to $150 million in Bitdeer through a private placement deal.

Nick van Eck, CEO of the stablecoin issuer Agora, recently commented on “yield-bearing stablecoins,” stating they are “not money or stablecoins.” He clarified that stablecoin issuers offering passive income deviate from the core purpose of stablecoins.

Ripple CEO Brad Garlinghouse is facing substantial criticism for his remarks about Tether, stating, “The U.S. government is going after Tether, that is clear to me.”

Tether, the largest issuer of stablecoins globally, has generated an extra 1 billion USDT tokens on the Ethereum blockchain, sparking discussions about a possible surge in the market. This development aligns with the crypto community's keen anticipation of the U.S. Securities and Exchange Commission's (SEC) impending decision regarding a spot Ethereum exchange-traded fund (ETF), slated for later this week.

ether's recent revelation that it holds more US Treasuries than Germany has sparked discussions about stablecoin regulation, as its influence in the digital assets realm grows.

Kraken, a prominent cryptocurrency exchange, is considering removing Tether's USDT stablecoin from its European platform due to forthcoming regulations from the European Union.