Tether's $120 million Bitcoin mining project in Uruguay collapsed due to a dispute with the state utility UTE over electricity allocations, leading to power disconnections in July 2025. The disagreement centered on contract terms about power limits, worsened by political changes and unpaid bills, forcing Tether's local entity to cease operations and lay off most staff. Despite this setback, Tether continues investing in Bitcoin mining in Latin America, including renewable energy projects in Brazil, and expanding its mining infrastructure and software offerings. The Uruguay project was initially a testbed for broader regional expansion but proved unviable due to electricity supply issues and economic pressures on Bitcoin mining.
USDT deposits on Aave V3 increased by $526 million over three months, pushing total deposits to about $3.03 billion by late July 2026. This surge reflects strong demand for stablecoins in decentralized lending, with active USDT loans reaching $2.5 bi...
Circle and Tether, the leading stablecoin issuers, minted $3 billion in new tokens over two days, reflecting ongoing high demand for dollar liquidity on blockchain networks. Tether added $1 billion to its USDT supply, now around $183 billion, while C...
Tether has exited two Bitcoin mining operations in Uruguay following a conflict with the state utility UTE over electricity supply, leading to a halt in mining activities and losses of about $120 million. The dispute arose from differing interpretati...
Oobit has partnered with AEON to integrate crypto payments into Vietnam's VietQR network, allowing travelers to pay with cryptocurrency by scanning local QR codes. Merchants receive payments in local currency, making it seamless without changing exis...
Maple Finance has emerged as the second-largest institutional crypto lender after Tether, with active loans around $1.9 billion and total loans originated between $15 billion and $22 billion. The platform shifted from risky uncollateralized lending t...
