Tether Empire and USDT Dynamic Tracking

ChainCatcher news, according to Whale Alert monitoring, Tether has frozen 2 suspicious USDT addresses related to Multichain on Ethereum, which hold a total of approximately 2.53 million USDT. (Source link)

According to ChainCatcher, recent data shows that since the beginning of 2022, stablecoin issuers including Tether, Circle, and others have spent over $1 million lobbying lawmakers in Congress.According to public interest media ProPublica, Tether has spent approximately $600,000 since the beginning of 2022, with $120,000 spent each quarter lobbying the U.S. Senate and House of Representatives; Circle began its lobbying efforts in partnership with strategic consulting firm Invariant at the end of 2021 and has since spent at least $560,000, with the company's quarterly lobbying budget currently at $100,000; Paxos has spent about $300,000 on lobbying since the beginning of 2022. (Cointelegraph)

ChainCatcher news, USDT issuer Tether announced that starting this month, it will regularly allocate up to 15% of its realized net operating profits to purchase Bitcoin. Tether expects that the current and future Bitcoin holdings in its reserves will not exceed the shareholder capital buffer and will further strengthen and diversify its reserves.As of the end of March 2023, Tether has approximately $1.5 billion in Bitcoin in its reserves. (source link)

ChainCatcher news, Tether released its first quarter reserve proof, with the USDT issuance increasing from $66 billion to over $82 billion. The percentage of secured loans in Tether's reserves decreased from 8.7% to 6.5%. Tether's direct holdings of U.S. Treasury securities reached a historic high of over $53 billion, accounting for more than 64% of total reserves. Treasury securities, along with other reserves in the cash and cash equivalents category (such as overnight repos, term repos, money market funds, cash, and bank deposits), accounted for nearly 85%, reaching an all-time high. Additionally, Tether reduced its bank deposits from $5.3 billion to $481 million in the first quarter to lower the counterparty risk faced by Tether.Previous report indicated that Tether completed an audit conducted by the independent accounting firm BDO Italia, with a net profit of $1.48 billion in the first quarter of 2023, more than doubling quarter-over-quarter, bringing its excess reserves to $2.44 billion, far exceeding the $960 million in the fourth quarter of 2022. (Source link)

ChainCatcher news, Tether announced the completion of an audit conducted by the independent accounting firm BDO Italia, showing that Tether's net profit for the first quarter of 2023 reached $1.48 billion, more than doubling from the previous quarter, bringing its excess reserves to $2.44 billion, far exceeding the $960 million in the fourth quarter of 2022.Tether stated that as of May 9, Tether's total assets were at least $81.8 billion, with liabilities of $79.4 billion. Of the reserve assets, 85% are held in the form of cash, cash equivalents, and other short-term deposits. The value of precious metals and Bitcoin accounts for about 4% and 2% of the total reserves, respectively. (source link)

ChainCatcher news, Tether's Chief Technology Officer Paolo Ardoino stated on Twitter that Tether's new proof will be released next week. The proof will include more disclosures, and Tether achieved good results in the first quarter of 2023, which will also enhance transparency.Previously reported, in early April, Paolo Ardoino mentioned on Twitter that the company's profit for the first quarter of this year has exceeded 700 million USD. (source link)

ChainCatcher news, Tether is partnering with the city of Lugano and Swiss universities to launch the second Plan ₿ Summer School program, lasting two weeks, focusing on Bitcoin and peer-to-peer technology. The course topics will emphasize Bitcoin, the Lightning Network, stablecoins, peer-to-peer technology, mining, blockchain analysis, regulation, self-custody, and more. (source link)

ChainCatcher news, U.S. Delaware bankruptcy judge John Dorsey ruled that Alameda Research should be repaid a loan of nearly $53 million. This loan, provided to Tether's bank Deltec International Group in 2021, was initially approved by FTX's Ryan Salame in 2021. The judge authorized and directed Deltec to pay Alameda an amount equivalent to $52,859,644, plus daily interest of $10,538.Deltec is a Cayman Islands company whose banking division serves the stablecoin company Tether. (CoinDesk)

ChainCatcher news, according to CNBC, Tether's Chief Technology Officer Paolo Ardoino stated that Tether will achieve a profit of $700 million in the first quarter of 2023, bringing its excess reserves (the portion of reserve funds exceeding the amount of USDT issued) to $1.66 billion. Paolo Ardoino noted that this is the first time USDT's excess reserves have surpassed $1 billion. (source link)

ChainCatcher news, Tether announced a partnership with the fashion brand Guess to officially introduce Bitcoin, Tether, and LVGA payments in retail stores in Lugano. Guess stores will adopt a POS system utilizing Bitcoin Lightning Network technology, allowing customers to purchase the new collection of clothing and accessories using three cryptocurrencies, and offering customers a 10% cash back in LVGA. (source link)

ChainCatcher news, according to monitoring by Lookonchain, Tether has just minted 1 billion USDT on Tron, and in the past 7 days, Tether has minted 5 billion USDT on Tron and Ethereum. (source link)

According to ChainCatcher news, data from Lookonchain shows that Tether issued 100 million USDT on the Tron network 1 hour ago, and subsequently transferred 162 million USDT to Binance and 28.6 million USDT to Kraken. (Source link)

ChainCatcher news, according to Whale Alert data, stablecoin issuer Tether increased the issuance of 1 billion USDT on the Tron network at 21:56:33 Beijing time on March 20.Tether's Chief Technology Officer Paolo Ardoino added that this is a transaction that has been authorized but not issued on the Tron network, meaning this increase will be used for the next issuance request and on-chain interactions. (Source link)

ChainCatcher news, the total market capitalization of the stablecoin USDT has surpassed 75 billion USD, currently at 75.36 billion USD, with a market cap increase of 7.8% over the past 30 days.The main reason for the surge in Tether's market cap is the collapse of Silicon Valley Bank, which prompted investors to shift their funds from USDC to USDT. Currently, Circle's stablecoin USDC has a market cap of 36.8 billion USD; Paxos-issued BUSD has a market cap of 8.25 billion USD; and MakerDAO's stablecoin DAI has a market cap of 5.73 billion USD. (source link)

ChainCatcher news, according to Whale Alert data, the stablecoin issuer Tether issued an additional 1 billion USDT in the Tether Treasury wallet on the Ethereum network at 18:35:59 UTC on March 16.Tether's Chief Technology Officer Paolo Ardoino added that this is a transaction that has been authorized but not yet issued on the Ethereum network, meaning this issuance will be used for the next issuance request and on-chain interactions. (source link)

ChainCatcher news, Tether's Chief Technology Officer Paolo Ardoino tweeted that Tether has no exposure to Signature Bank.According to previous reports, Signature Bank was closed by New York state regulators on Sunday. The Federal Reserve, FDIC, and the U.S. Department of the Treasury issued a joint statement saying that all depositors using Signature will be compensated. (source link)