Tether freezes 46.3 million USDT owned by FTX at request of law enforcement

Tether has frozen 46 million of USDT owned by crypto exchange FTX, as a result of a request from law enforcement. The post Tether freezes 46.3 million USDT owned by FTX at request of law enforcement appeared first on The Block.

Timeline of Tether

The crypto markets have become more volatile ever since the problems with the FTX exchange and Alameda came to light. Extreme panic was felt in the market as Bitcoin and all the other major cryptocurrencies hit fresh yearly lows.

Tether (USDT), the largest stablecoin in existence and the lubricant that keeps the crypto markets ticking over, briefly fell 2% below its US$1 peg in the past hour. While stablecoin depeggings are common, anything greater than a fraction of a percent can be worrying.

Justin Sun's Tron is purchasing 1 billion USDT to fight short sellers and "safeguard the overall blockchain industry." The post Tron Dao to purchase 1 billion USDT to fight short sellers appeared first on The Block.

The crypto market is still seems to be in the grasps of FTX and Alameda. Currently, rumors are circulating that Tether's stablecoin USDT might be more affected by the downfall of FTX than it would like to admit.

The Tether (USDT) stablecoin showed signs of wavering on November 10, sinking as low as $0.9806 as market uncertainty continues to reign. The post Tether dollar peg sinks 1.7% as FTX-induced turmoil persists appeared first on CryptoSlate.

Tether's USDT has fallen slightly below its dollar peg on Thursday morning amid the ongoing uncertainty in crypto markets. The post Tether's USDT falls 1% below dollar peg amid market uncertainty appeared first on The Block.

Tether's CTO addressed concerns over USDT's exposure to FTT USDT daily volume sees a spike Members of the cryptocurrency community have been questioning prominent stablecoin companies about their engagements with FTX and FTT. Perhaps, out of worry that a repeat of the Terra scenario might transpire.

The issuers of the two largest stablecoins, Tether and Circle, have distanced themselves from the FTX situation, saying they have no exposure to the struggling crypto exchange or  Alameda Research. The post Tether, Circle deny exposure to FTX, Alameda appeared first on CryptoSlate.

"Tether does not have any exposure to FTX or Alameda," Ardoino tweeted, adding: "0. Null. Maybe is time to look elsewhere. Sorry guys. Try again." The post Tether CTO denies exposure to FTX and Alameda after exchange's forced sale appeared first on The Block.

The U.S. dollar-pegged stablecoin issued by Tether, USDT, has been rising in popularity in Lebanon amid rising inflation that has made access to foreign exchange from traditional channels difficult.