USDT/USD(USDTUSD.HAS)

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USDTUSD.HAS
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Tether’s role in Venezuela, Iran highlights the duality of stablecoins

Recent turmoil in Venezuela and Iran has highlighted the duality of stablecoins like Tether, which serve as a lifeline for citizens while also enabling sanctioned entities to evade restrictions. In Iran, the rial's devaluation has led to protests and increased reliance on Tether for economic stability. Meanwhile, Venezuela's citizens use USDT to navigate hyperinflation and distrust in banks, with the state oil company demanding payments in Tether. Tether has been actively blacklisting wallets linked to sanction evasion, freezing significant amounts of funds in response to these challenges.

Cointelegraph·
US
CRCL
+1.36%
Cointelegraph·
US
CRCL
+1.36%

Dow Jones Top Financial Services Headlines at 12 AM ET: Hedge Funds Get Ready for the 'Donroe Doctrine' Trade | U.S. ...

Hedge funds are preparing for the 'Donroe Doctrine' trade following the U.S. capture of Nicolás Maduro. U.S. prosecutors are investigating Fed Chair Jerome Powell regarding his testimony on renovations linked to Trump's campaign. Maduro's crypto-backed oil deals have made Tether central to Venezuela's financial situation. Trump proposes a 10% cap on credit-card interest rates. Saks is nearing a bankruptcy financing package, while HSBC accepts a $313 million fine for tax fraud claims. Eir Partners raised $1 billion for healthcare tech, and JPMorgan cuts ties with proxy advisers, opting for an AI platform for shareholder votes.

MorningStar·
US
JPM
-0.18%
MorningStar·
US
JPM
-0.18%

Ethereum Founder Vitalik Buterin Says Crypto’s Stablecoin Model Is Not Built to Last

Ethereum founder Vitalik Buterin criticized the current stablecoin model, stating it is not sustainable long-term. He emphasized the need for better decentralized stablecoins, highlighting risks tied to the U.S. dollar and the influence of centralized oracle systems. Buterin also pointed out that attractive staking yields for ETH make it difficult for stablecoins to compete. He reaffirmed Ethereum's commitment to decentralization and user sovereignty, distancing the network from VC-backed trends in the crypto industry. However, he acknowledged challenges in addressing staking issues and the complexities of stablecoin design.

Coinpedia·
US
CRCL
+1.36%
Coinpedia·
US
CRCL
+1.36%

Venezuela Oil Exports Use USDT Heavily, Is Bitcoin Dominance at Risk?

Venezuelan President Nicolás Maduro's use of Tether (USDT) for oil transactions is boosting its market cap, currently over $180 billion, making it the leading stablecoin. However, USDT's market cap is far from Bitcoin's $1.8 trillion, making it unlikely to surpass Bitcoin in the short term. While USDT serves as a medium of exchange, Bitcoin is viewed as a store of value. Regulatory challenges and skepticism about Tether's reserves further complicate its potential to rival Bitcoin, despite theoretical possibilities if it gains official status in the U.S.

TradingKey·
TradingKey·

Binance Launches Regulated TradFi Perpetuals Settled in USDT

Binance launched regulated USDT-settled perpetual contracts for gold and silver, expanding crypto derivatives into traditional finance markets. source:

CoinLive·
CoinLive·
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