USDT News: Tether Explores Greater US Presence Amid Favorable Regulatory Climate

Tether Holdings Ltd., the issuer of the world’s largest stablecoin, USDT, is considering expanding its presence in the United States. CEO Paolo Ardoino highlighted favorable market conditions and a promising regulatory outlook under the Trump administration as key drivers for this strategic move.

Trump Administration’s Crypto Support Boosts Tether’s US Goals: Ardoino

Tether Holdings Ltd., the issuer of the world’s largest stablecoin, USDT, is exploring the potential for a greater presence in the United States. The chief executive of the company has cited favorable market conditions and a promising regulatory outlook under President-elect Donald Trump as key factors driving this consideration. In an interview with Bloomberg Television, Tether CEO Paolo Ardoino clarified that the company is taking a cautious approach and added that regulatory clarity remains a key factor in deciding future moves. Ardoino described the evolving US regulatory environment as 'a great opportunity' but asserted that it is important to wait and see how laws develop before committing to significant expansion. This development comes amidst growing Optimism over the regulatory landscape for cryptocurrencies in the US.

WazirX Freezes $3M in USDT Amid Recovery Efforts from $230M Security Breach

Crypto exchange WazirX, the largest in India, has frozen $3 million in USDT following a catastrophic security breach in July 2024 that resulted in the loss of $230 million, nearly 45% of the platform's total cryptocurrency assets. The recovery process involves multiple jurisdictions and court cases. The breach has been attributed to the Democratic People’s Republic of Korea (DPRK), including the infamous Lazarus Group, according to a joint statement from the U.S., Japan, and South Korea.

Tron DeFi: SunSwap Leads the Way with 8.3 Million Transactions in 2024

In 2024, the TRON network saw a significant shift beyond stablecoin transactions, with decentralized finance (DeFi) activities gaining momentum. SunSwap, a Tron-based decentralized exchange (DEX), played a pivotal role in this transformation, recording 8.3 million transactions. This surge in activity was driven by the adoption of TRX and its wrapped version, WTRX, which benefited from the increased trading and token generation on the platform. Despite the rise in DeFi, USDT continued to dominate the Tron network, with its supply growing from $48 billion to $62 billion, and the value of USDT transfers also saw a substantial increase.