TetherUSD

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Tether Discontinues USDt Redemptions on Legacy Blockchains
#Stablecoins #algorand #TetherUSD -$USDT

Tether has announced the cessation of USDt (USDT) redemptions on five legacy blockchains, effective September 1. This decision impacts users on Omni Layer, Bitcoin Cash SLP, Kusama, EOS (now Vaulta), and Algorand. Tether's CEO, Paolo Ardoino, stated that this move allows the company to concentrate on more scalable and engaging platforms. The plan to phase out support for these blockchains has been in progress, with prior announcements made in August 2023 regarding the Omni Layer, Kusama, and Bitcoin Cash SLP, and a halt on minting for EOS and Algorand in June 2024. USDt remains the largest stablecoin, boasting a market cap of $139.4 billion. Current balances show Omni Layer with $82.9 million in circulation, while other networks have lower amounts. Despite the changes, the Algorand Foundation reassured users that there would be no disruption, as Tether had previously allowed a year for redemptions. Algorand's revenue from transaction fees over the last month was reported at $42,300.

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Stablecoin giant Tether has quietly built an $8 billion gold vault in Switzerland as part of a bold strategy to diversify its reserves and cut long-term custody costs, according to CEO Paolo Ardoino in an interview with Bloomberg.
The massive stash, amounting to roughly 80 tons of gold, is stored in what Ardoino calls “the most secure vault in the world.” While exact coordinates remain undisclosed for security reasons, the move marks a significant pivot away from Tether’s traditional reliance on fiat-backed assets.
“We have our own vault. I believe it’s the most secure vault in the world,” Ardoino told Bloomberg, highlighting that directly owning physical gold allows Tether to bypass hefty storage fees charged by third-party vault operators.
Gold: A Buffer Against Fiat Turbulence
Tether’s March attestation shows that precious metals now make up 5% of the company’s $112 billion reserves. Its flagship stablecoin USDT recently hit a market cap of $159 billion, commanding over 62% of the entire stablecoin market worth $255 billion.
Ardoino argues that gold offers a vital safe-haven hedge amid growing concerns about rising US debt and potential regulatory headwinds for fiat-based reserves.
“Eventually, if people start to get concerned about the potential increase of the debt of the US, they might look at alternatives,” he explained, pointing to gold’s historical status as a store of value when fiat currencies weaken.
This shift mirrors broader trends, with central banks worldwide, especially in BRICS nations, ramping up gold purchases to shore up reserves. A recent J.P. Morgan report notes renewed investor interest in gold ETFs, while prices continue to climb.
Cost-Cutting and Long-Term Strategy
Tether’s gold push is not entirely new. The firm launched Tether Gold (XAUT), a tokenized gold product, which has quietly gained adoption alongside USDT. However, Ardoino says the real savings come from moving custody in-house.
“If Tether Gold were to grow to $100 billion in circulation, it’s a lot of money to pay 50 basis points,” Ardoino said, referencing the costly fees charged by external custodians.“If you have your own vault, eventually with the size, it gets much cheaper to do custody.”
Tether’s strategy mirrors traditional financial institutions like UBS Group, whose gold and commodity exposure matches Tether’s new precious metals holdings.
The latest revelation adds a fresh dimension to Tether’s positioning in an industry long scrutinized for reserve transparency. With gold now in the mix, the company aims to reassure investors that its stablecoins remain resilient even in times of fiat volatility.
The post appeared first on CryptosNewss.com

#Tether #TetherUSD $USDT

Tether #USDT ,currently trading at $1.00, remains a cornerstone in the crypto market, with a 24-hour trading volume of approximately $85 billion. As a stablecoin pegged to the U.S. dollar, Tether offers stability amid the volatility of other cryptocurrencies. However, it continues to face regulatory scrutiny regarding its claims of being fully backed by reserves.
Regulatory bodies, including the Commodity Futures Trading Commission (CFTC), have raised concerns about Tether's transparency and compliance, prompting increased calls for accountability. Despite this, Tether’s widespread adoption and its integral role in liquidity across crypto markets provide a strong foundation for continued use.As Tether expands across blockchain networks, it remains a reliable medium of exchange. While regulatory challenges persist, Tether’s stability and market dominance suggest it will maintain its position, offering confidence to investors seeking low-risk exposure in the crypto space.#Cryptopedia #USDT #USDT #TetherUSD #tetherUsdt

Tether CEO Paolo Ardoino said his company is holding more than 100,000 Bitcoins along with 50 tons of gold after a spectacular 2024 with a profit of 13 billion USD.

Tether reveals a massive reserve of Bitcoin and gold. Photo: Cointelegraph
At the Bitcoin 2025 Conference currently being held in Las Vegas (USA), the CEO of the stablecoin issuing company Tether (USDT), Mr. Paolo Ardoino, made surprising disclosures about the organization's investment activities.

Tether, the company behind the USDT stablecoin, has started financing oil deals. Recently, its investment team helped fund a $45 million transaction for 670,000 barrels of crude oil from the Middle East. This move shows Tether’s goal to expand beyond just digital currency. By entering the $10 trillion trade finance market, Tether aims to make cross-border payments faster and cheaper, using USDT.
Besides stablecoins, Tether is branching into other areas like Bitcoin mining, artificial intelligence, and venture capital. This means Tether wants to be a big player not only in the crypto world but also in traditional finance. CEO Paolo Ardoino views this oil deal as a first step towards supporting more industries with Tether’s financial solutions.
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