Close to half of Tether's $180 billion USDT supply, about $89 billion, circulates on the Tron network, which has no US regulatory oversight. This network is popular in emerging markets due to low fees and fast transfers. While Tether's reserves are heavily backed by US Treasury assets, the operational use of USDT on Tron creates enforcement challenges for US regulators. Efforts like the GENIUS Act target US issuers but do not cover offshore networks like Tron. Tether is developing its own settlement layer to reduce reliance on Tron, but user migration may be slow because of Tron’s deep liquidity and low costs. This situation leaves a significant portion of global dollar transactions outside US supervision.
Bitcoin fell 1.28% to $65,545.74 while Ethereum rose 1.02% to $1,788.32 amid cooling trading volumes in spot, derivatives, and stablecoins. Most large-cap altcoins declined, and total crypto market cap stood near $2.25 trillion with reduced trading a...
Solana (SOL) has gained 13% in the past week, nearing a key resistance level at $77 amid easing geopolitical tensions and lower oil prices. The upcoming Federal Reserve meeting and new chairman's stance on interest rates will be crucial for SOL's nex...
Tron Inc has aggressively accumulated 1.2 million TRX tokens in June, increasing its total holdings to over 700.4 million TRX despite the token trading lower around $0.31. This buying effort occurs amid sustained bearish pressure and a declining pric...
The crypto market is experiencing a generally positive session with the CoinMarketCap 20 Index up nearly 1% for the day and 3.5% over the week, despite being down over 30% year-to-date. Bitcoin trades around $64,278, showing modest daily gains but re...
