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Within the 74-page complaint, the CFTC has labeled Ether, Binance USD, Tether and Litecoin as commodities along with Bitcoin, and made a few other startling claims. 

cointelegraph.com

7 details in the CFTC lawsuit against Binance you may have missed

Users of the Telegram messenger will now be able to send each other the leading stablecoin, tether (usdt), directly in the chats. The new option expands the list of cryptocurrencies available for purchase, sale, and trade in the messaging app.
Tether Added to Wallet Bot in Telegram Messenger
Support for transactions with the U.S. dollar-pegged tether, the largest stablecoin, has been introduced in Telegram, the most popular messaging service in the crypto space.
USDT has been integrated in the Telegram Wallet bot, allowing users to buy, sell, exchange as well as transfer tether free of charge between each other.
“We’re excited to announce the long-awaited integration of USDT into @wallet, making sending stablecoins as easy as sharing a photo,” the wallet service said in a Telegram post.
You can replenish your tether balance through the bot’s main menu, using an external USDT wallet and also by purchasing the stablecoin with a bank card or on Telegram’s peer-to-peer (P2P) market. @wallet only accepts transfers from the TRC-20 network, the announcement remarked.
The wallet’s interface has been updated. All crypto assets can be seen on the start page and users can choose which coins they want displayed from ‘Settings’. Purchase options are available in the ‘Market’ section.

The messenger’s P2P marketplace has been refreshed as well to allow users to buy and sell stablecoins directly in the bot by selecting one of the available offers. An ‘Exchange’ feature has appeared on the main page letting you to trade USDT and TON.
Toncoin (TON), which can also be sent in chats, and bitcoin (BTC), the crypto with the largest market cap, were added to the unofficial @wallet bot in April, 2022.
The Telegram Open Network (TON) blockchain was launched in 2018. However, in 2020, Telegram pulled out of the project due to litigation with the U.S. Securities and Exchange Commission (SEC).
Further support for the TON network was provided by members of the TON Foundation community who continued its development, RBC Crypto noted in a report.
While Telegram is not directly engaged with the expansion of the TON ecosystem, it remains involved. Last year, the messenger launched a blockchain platform called Fragment facilitating the purchase and sale of collectible usernames with toncoin.
Do you expect other cryptocurrencies to be added to the @wallet Telegram bot? Tell us in the comments section below. 




Users of the Telegram messenger will now be able to send each other the leading stablecoin, tether (usdt), directly in the chats. The new option expands the list of cryptocurrencies available for purchase, sale, and trade in the messaging app. Tether Added to Wallet Bot in Telegram Messenger Supp...

news.bitcoin.com

In-Chat Tether Transfers Introduced in Telegram

Tether’s chief technology officer (CTO) Paolo Ardoino is expressing bullish sentiment on Bitcoin (BTC) as the flagship crypto asset sits below $30,000.
Ardoino says in a new CNBC interview that Bitcoin could “easily retest” its all-time high of slightly above $69,000 reached in November of 2021.

“I’m bullish given all what I said in terms of geopolitical uncertainty…
I’m bullish on Bitcoin. I think that it can easily retest the all-time high levels around $60,000+.”
Bitcoin, which is trading at $28,109 at time of writing, would have to jump by around 145% to reclaim the record high.
According to the Tether CTO, the prevailing banking crisis is making a strong case for the adoption of Bitcoin.
“Bitcoin is in this moment, I think, decoupling from the traditional financial markets. I think that given the geopolitical situation we are in, the banking industry situation we are in, I think people are getting scared.
So when there are bank runs around the world, I think, Bitcoin is the only asset that you can really hold for yourself, you can hold in your hardware wallet.
And it’s a hedge against everything that could happen, or already happened in the past months and could happen in the future.”
Despite being bullish on Bitcoin, Ardoino says he’s doubtful Bitcoin could hit $1 million in under 90 days as former Coinbase CTO Balaji Srinivasan wagered last week.
“I know that there is a bet on Bitcoin that it could reach $1 million in 90 days. I’m kind of skeptical about that because honestly, I wouldn’t even hope for that.
Because if Bitcoin would reach such a high price level, it would mean that the entire economy will crumble. And I’m not sure it is the word that we want to live in.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The post Bitcoin Could Easily Rip by Over 140% Amid Banking Crisis, Says Tether CTO Paolo Ardoino – Here’s the Timeline appeared first on The Daily Hodl.


Tether’s chief technology officer (CTO) Paolo Ardoino is expressing bullish sentiment on Bitcoin (BTC) as the flagship crypto asset sits below $30,000. Ardoino says in a new CNBC interview that Bitcoin could “easily retest” its all-time high of slightly above $69,000 reached in November of 2021. ...

dailyhodl.com

Bitcoin Could Easily Rip by Over 140% Amid Banking Crisis, Says Tether CTO Paolo Ardoino – Here’s the Timeline

The number one stablecoin by market cap has announced it will reach $1.6 billion in excess reserves of Tether (USDT). The firm estimates this figure for the March quarter. 
Tether Chief Technology officer Paolo Ardoino disclosed that it expects an estimated $700 million in profit within the said period pushing the reserves higher. Ardoino further revealed that this money would remain in Tether to support USDT capitalization. 
Tether Expects to Make More Profit this Quarter
In a CNBC report, the Tether CTO revealed that the firm made $700 million in December 2022 quarter. According to the report, Tether’s assets exceeded its liabilities during the quarter. Notably, after subtracting the liabilities from its assets, the company had $960.6 million left.

While speaking with CNBC, Ardoino stated that Tether’s excess reserve will record an additional $700 million this quarter. The figure will supposedly push the reserve to $1.66 billion marking the first time it achieves a figure above $1 billion.

Regarding how Tether makes money, users pay a $1,000 withdrawal fee; the minimum amount a user can withdraw is $100,000. Secondly, Tether reportedly makes money by investing in precious materials and digital tokens. It also issues loans to many institutions, thereby earning interest. 
Moreover, the challenges USDC faced when Silicon Valley Bank (SVB) crashed also pushed up USDT usage. Recall that Circle announced it had $3.3 billion of its USDC reserve stuck in SVB. 
After the announcement, USDC de-pegged from the USD, causing panic and a selling frenzy among investors. Many USDC holders moved their coins to USDT, exchanging them even below the market value to cut costs.

The loss in USDC and the banking crisis prompted the Tether CTO to recommend USDT as a safer alternative. In Arduino’s words, the stablecoin is making money while the traditional banks are falling. 
According to CNBC’s Ryan Browne, Arduino was asked if Tether could withstand an event like the Silicon Valley bank crash. In response, he referred to the instability of Credit Suisse and other banks, asking why people still question Tether’s reserve when recording massive gains.
A Brief On Stablecoin And Regulators 
This new development is an excellent achievement for the USD-backed stablecoin, which means more user trust. Recall that these asset classes have always faced regulators’ scrutiny due to claims of a 1:1 peg ratio to fiat currencies such as USD or precious stones such as Gold.

However, the regulators’ attention increased following the crash of TerraUSD/UST in 2022. The stablecoin was supposedly pegged to the USD but didn’t own cash in reserves to back up the claim. It only depended on other mechanisms to maintain the peg. As it crashed, investors lost billions of dollars. 
Following UST’s crash, regulators mandated that stablecoin issuers disclose their reserve amounts and components more transparently to prove they have USD amounts equivalent to the coins in circulation. 
Featured image from Pexels and chart from Tradingview.com


The number one stablecoin by market cap has announced it will reach $1.6 billion in excess reserves of Tether (USDT). The firm estimates this figure for the March quarter. Tether Chief Technology officer Paolo Ardoino disclosed that it expects an estimated $700 million in profit within the said p...

bitcoinist.com

Tether Claims $1.6 Billion In Excess Reserves To Back Its Stablecoin

Telegram has added a new feature enabling users to send each other the world’s largest stablecoin, tether (USDT).
USDT runs on several blockchains, but for now, Telegram has added support for the stablecoin only on Tron.

According to an update on March 22nd, USDT-TRON – TRC20 – has been added to the popular messaging app’s wallet function, thereby expanding its payment capabilities for buying and selling crypto.
USDT is the third crypto-asset joining Bitcoin and The Open Network token as assets supported by the Wallet bot (TON).
Telegram’s announcement read,

“You can now buy, swap, and make P2P trades with Tether USDT (TRC20). You can also directly send USDT to your friends with no transaction fees.”

With the new integration, Telegram is competing against other social media platforms, such as Twitter, which already added support for tips in Bitcoin and Ethereum in 2021, in addition to its partnership with Stripe to add payment features via the USDC stablecoin.
Telegram’s tryst with crypto dates back to 2018, when it launched its Telegram Open Network (TON), which was initially designed to be a proof-of-stake (PoS) blockchain platform with a native token with the aim to generate payments on its chat app. The launch, however, was not smooth.
The app founder and CEO of the app – Pavel Durov – previously said he had to face numerous scammers and fake accounts on Twitter.
Subsequently, the project was abandoned by Telegram just two years later after the United States Securities and Exchange Commission (SEC) deemed the initial coin offering illegal, which forced Telegram to step away from the TON project and hand it over to the TON Foundation.
Last November, DWF Labs announced a commitment to deploy $10 million to support the TON ecosystem.

The post Telegram Integrates Tether (USDT) Payments on Tron Network appeared first on CryptoPotato.

Tether price	$1.00
Low - High 24H	$0.997468 - $1.00
Market cap	$79.63B
Volume 24H	$29.45B
All time high	$1.32 -24.28% July 24th 2018
All time low	$0.572521 74.98% March 2nd 2015
Genesis date	N/A

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