Tether Whales are Returning USDT Recently Dumped; What does this Mean?

Santiment has pointed out another indicator to look out for that could signal a crypto market recovery. Per the data, Tether USDT shark and whale wallets — wallets that hold between $100k and $10 million of the dollar-pegged stablecoin — have been adding back to accumulation ways.

Timeline of Tether

Tether has announced that starting November 3, 2022, and its USDT stablecoin will become available throughout Brazil in more than 24,000 automated teller machines (ATMs) operated by fintech company SmartPay.

USDT will be available in 24,000 ATMs in Brazil from Nov. 3 to enable conversion from USDT to Brazilian reals and vice versa. The post Brazil Now Allows You to Transact in Tether Through 24,000 ATMs appeared first on BeInCrypto.

USDT stablecoins will be available at more than 24,000 ATMs in Brazil starting next month. The post Tether stablecoins to expand to 24,000 ATMs in Brazil next month appeared first on The Block.

Stablecoin issuer Tether announced that local crypto services provider SmartPay will launch USDT tokens in over 24,000 ATMs across Brazil starting Nov. 3. Brazil still has 34 million unbanked individuals, or those who do not have a bank account or do not use it often, according to a survey by the Instituto Locomotiva conducted in January 2021.

U.S. federal prosecutors have alleged that five Russian nationals laundered tens of millions of dollars in cryptocurrencies for Russian oligarchs and sanctioned entities. What Happened: The accused have been identified as Yury Orekhov, Artem Uss, Svetlana Kuzurgasheva, Timofey Telegin and Sergey Tulyakov.

The Department of Justice has hit an alleged criminal ring for violating sanctions through the use of shell companies and cryptocurrencies to launder Venezuelan oil sale profits and purchase equipment for the Russian military.  The post U.S. authorities indict alleged money laundering ring that sold Venezuelan oil for USDT appeared first on The Block.

Stablecoins haven't been exempt from suffering losses during the ongoing cryptocurrency market crash, but its major assets are still persevering, with Tether (USDT) not only ranking third among all cryptos but also dominating centralized exchanges by stablecoin trading volume.

In a tweet on October 13, stablecoin issuers Tether announced that it had reduced its commercial paper holdings to zero to ensure secure and liquid reserves for Tether USD (USDT). “Tether is proud to announce that we have eliminated commercial paper from our reserves,” said Tether in its tweets.

Market maker Wintermute has paid off a $96 million USDT loan, paying back DeFi lender, TrueFi, a day before the debt hit its maturity date. The post Wintermute pays off $96 million USDT TrueFi loan appeared first on The Block.

Late in September, Tether made headlines when a judge ordered the company to reveal what is likely to be crucial documentation for any evaluation of USDT's backing with U.S. dollars. The court found that the proof was necessary to establish that Tether had a treasury that completely backs its stablecoin.