Tether co-led a $7.5 million seed round for Utexo, which integrates Bitcoin's base layer, Lightning Network, and the RGB protocol to enable native USDT stablecoin issuance on Bitcoin. This move marks a return of USDT to Bitcoin after years on Ethereum and Tron, addressing issues like privacy, fixed transaction costs, and institutional risks. Utexo's platform targets payment service providers and exchanges, offering instant, private, and low-cost transactions secured by Bitcoin's network. The growing Lightning Network volume supports this shift, signaling strong institutional interest in Bitcoin-native stablecoin infrastructure.
Senator Richard Blumenthal has requested Tether to provide records by November 3 regarding payments to Nxum, a consulting firm co-owned by Bo Hines, who helped craft the GENIUS Act on stablecoin regulation. Nxum reportedly earned $6.3 million from a ...
Utexo has started testing the minting, transfer, and redemption of Tether USDt (USDT) on Bitcoin's Signet test network, targeting exchanges, wallet providers, and market makers. The tests use the RGB protocol, which keeps transaction details confiden...
US Senator Richard Blumenthal has requested detailed records from Tether on over $6 million in payments to Nxum, a firm co-founded by Bo Hines, a former White House official involved in stablecoin legislation. The payments coincided with Hines lobbyi...
In the latest 24-hour crypto fund flow data, Bitcoin (BTC) experienced a net outflow of $43.60 million, with $1.87 billion inflows and $1.92 billion outflows. Ethereum (ETH) led net inflows, attracting $77.08 million with $1.02 billion inflows agains...
Senator Richard Blumenthal has requested detailed records from Tether and Nxum, a consulting firm co-founded by former White House crypto official Bo Hines, regarding millions of dollars paid by Tether to Nxum while Hines worked on stablecoin policy....
