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Cartier Family Member Indicted for Using USDT to Launder Hundreds of Millions in Drug Trafficking Money

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Maximilien De Hoop Cartier, a descendant of the family famous for their French luxury goods Cartier, has been indicted for his participation in a network that allegedly used several shell companies to launder drug trafficking money proceeds using USDT. Cartier and five Colombian individuals allegedly conspired to directly launder $14.5 million and used these shell … Read more

Tether Q1 2024 Attestation Reveals Record $4.52 Billion Profits

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Tether, one of the largest cryptocurrency companies, has recently released an attestation of its financial activity corresponding to Q1 2024. Tether registered a record-breaking $4.52 billion in profits, and disclosed its net equity levels, reporting $11.37 billion as of March 31, 2024. Tether issued over $12.5 billion USDT during this period. Tether Attestation Registers Record-Breaking … Read more

Latam Insights: Venezuela to Leverage USDT for Sidestepping Sanctions, Chivo Wallet Disregards Hacking Allegations

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Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Venezuelan oil company PDVSA could use USDT to sidestep U.S. sanctions, Chivo Wallet denies hacking allegations, and Nubank expands its crypto functionality in Brazil. Venezuela Might Use USDT for Sidestepping Sanctions Venezuela is … Read more

Venezuelan State Oil Company to Accelerate USDT Adoption for Settlements; Tether Vows to Uphold OFAC Sanctions

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PDVSA, the state-owned Venezuelan oil company, would be preparing to migrate more of its payments portfolio to USDT, a dollar stablecoin, to avoid being affected by the restitution of U.S. sanctions. Reuters reported that the company started receiving payments in USDT last year and will accelerate its adoption. Tether, nonetheless, stated it will uphold OFAC … Read more

Tether Integrates USDT on TON Network, Targets 900 Million Telegram Users

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Tether, the stablecoin company, has launched native USDT, the largest dollar-pegged stablecoin, on The Open Network (TON). With this addition, over 900 million Telegram users can seamlessly transfer digital dollars, without having to type crypto addresses. 11 million TON will be distributed among USDT users on TON to incentivize its adoption in the ecosystem. Tether … Read more

Tether Officially Reorganizes, Announces Four Different Business Divisions

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Tether, one of the largest companies in the cryptocurrency industry, has announced a reorganization of its business operations, seeking to restructure to support its expansion. Tether will now have four business divisions: Tether Data, focused on tech developments; Tether Finance, dedicated to the digital assets business; Tether Power, dealing with mining operations; and Tether Edu, … Read more

Celo Adds Tether’s USDT as Gas Currency

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Celo, a low-fee, usability-focused blockchain, has approved using Tether’s USDT, a dollar-pegged stablecoin, to pay transaction fees. The passed governance proposal stated this functionality would simplify the transaction experience for users, who only need to hold the USDT stablecoin in their wallets to move value using Celo’s network. Celo Passes Governance Proposal Enabling USDT as … Read more

Stablecoin Issuer Tether Completes SOC 2 Type 1 Audit

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Tether, the USDT stablecoin issuer, announced on April 1 that it had completed the System and Organization Controls (SOC) 2 Type 1 Audit, the highest level of security compliance achievable. Tether stated that the audit’s completion demonstrates the robust information technology control measures it has in place, ensuring the safety of its systems. Gold Standard … Read more