Tether has launched its USDT token on the Aptos blockchain to reduce transaction costs by taking advantage of Aptos’ high speed and low gas fee. This will enable users to transact more cheaply, including microtransactions and large enterprise transactions. Aptos has seen significant growth in user and transaction numbers, with a record-breaking 157 million transactions in a single day in May 2024. Additionally, Nansen has partnered with Aptos to provide on-chain data and analytics to help users identify trends in the Aptos ecosystem. Separately, bankrupt cryptocurrency exchange Celsius has sued Tether for $3.5 billion, alleging that Tether liquidated bitcoin that Celsius had provided as collateral for a USDT loan, almost exactly covering the debt without allowing for additional collateral. ExplanationTether is expanding the use of its USDT token to the Aptos blockchain to take advantage of its benefits of fast and cheap transactions. This integration can facilitate everything from small transactions to large trading operations, due to the low fees that Aptos offers. Aptos’ partnership with Nansen is also designed to improve data analysis within the Aptos network, which could help users make more informed decisions. On another note, Celsius’s lawsuit against Tether involves a dispute over a USDT loan. Celsius argues that Tether sold bitcoin, which had been used as collateral, to cover the loan in a way that did not allow Celsius to put up further collateral to cover the debt. #Binance #Tether #MarketDownturn