Just-In: Binance Resumes USDT (SOL) Shortly After De-listing From Platform

On Thursday morning, the world's biggest exchange, Binance, announced that deposits of USD Coin (USDC) and Tether (USDT) on the Solana blockchain “have been temporarily suspended until further notice,” causing the SOL token to test a low of $12.45. The move comes right after OKX, another crypto exchange,  announced that it will delist USDC and The post Just-In: Binance Resumes USDT (SOL) Shortly After De-listing From Platform appeared first on CoinGape.

Timeline of Solana, Tether

The announcement from the largest crypto exchange by trading volume comes after rival OKX announced it will delist both USDC and USDT on Solana. The post Binance halts Solana-based USDC and USDT deposits, in line with rivals appeared first on The Block.

Tether, the issuer of the major stablecoin USDT, denied having exposure to either Genesis Global Capital or Gemini Earn. Some, however, wonder how it is possible for such a large company not to be affected by any of the massive events that shook the crypto space this year.

Crypto exchanges Binance and OKX announced temporary suspension of USDC (SOL) and USDT (SOL) deposits. “Deposits of USDC (SOL) and USDT (SOL) have been temporarily suspended until further notice.

Recent Solana price analysis has been bearish as the cryptocurrency has fallen below a key resistance level. The digital asset is currently trading at $14.24 and is down by 0.87 percent in the last 24 hours.

Stablecoin issuer Tether (CRYPTO: USDT) said on Wednesday that it had no exposure to institutional cryptocurrency lender Genesis or the Gemini Earn program, which have halted withdrawals. What Happened: The lending division of crypto investment bank Genesis Global Trading temporarily stopped withdrawals on Wednesday, raising speculations that USDT had significant exposure to Gemini.

Genesis has stopped both debt repayments and new loan issuances, according to a statement from CEO Derar Islim today. The withdrawal requests surpassed the available liquidity at Genesis Global Capital.

Solana‘s price was badly impacted by the recent FTX meltdown and dropped heavily from levels close to $40 to as low as $12. While many were perplexed because no direct link was visible to the naked eye, the details that emerged later astounded the entire crypto space.

The Solana price analysis is bullish today as the coin's price function is headed upwards for the third consecutive day, and we expect more upside to follow after a break above $14.63. as SOL is retesting $14.63 resistance after covering the range upwards since November 14, 2022.

The Solana (SOL) ecosystem, according to Laguna Labs Chief Executive Officer (CEO) Stefan Rust, took a harder hit compared to other major digital coins such as Bitcoin and Ethereum following the collapse of the FTX crypto exchange. Here's a quick glance at SOL performance: Following the collapse of FTX, Solana lost almost 60% of its market value SOL has gone up by 2% over the last 24 hours, trading above the $14 marker Solana coins deposited on blockchain decreased sharply, from 68 million in June to just almost 25 million now “In the current crypto shakeout, the most unfortunate innocent victim is the Solana ecosystem,” Rust said.

The accounting firm BDO Italia has performed a quarterly assurance on the Consolidated Reserves of Tether Holdings Limited and its wholly-owned subsidiaries as of 30th September 2022. According to its report, Tether Group's consolidated assets exceed its consolidated liabilities.