#USDT

In a three-month span beginning in March 2023, the FBI shifted gears in their investigations involving digital currencies. Those efforts have led to the confiscation of an estimated $1.7 million in cryptocurrencies such as BTC, ETH, USDT, XMR, and DAI. Some of these were traced back to Binance-affiliated wallets. Notably, the Eastern District of Virginia saw the most substantial single seizure of 428.5 ETH.

Identifying a crucial flaw in HackenProof's system, the hacker known as blazezaria was rewarded $1 million, with payouts over the course of a year. He then pledged to allocate 10% from each disbursement to a Ukrainian fund aiding the AFU. The initial contribution of 8290 USDT has been successfully executed.

The CEO of Binance has repeatedly aired his distrust of USDT, dubbing it a "black box" due to its lack of transparency in audits and reports. Also, Binance listed a new stablecoin, FDUSD, on July 26th, that has seen a rapid rise in capitalization. They are in the process of designing their own algorithmic stablecoin and are open to listing more USDT equivalents on their exchange. Meanwhile, Tether's CTO has hinted at CZ's involvement in market manipulation in the stablecoin sector, mentioning a 10 basis point USDT depeg on July 28th. "Isn't it interesting that USDt is being pressured down (slightly, within 10bps, just to push market makers to react), and USDc, the main competitor that you would expect being gaining from the situation, is redeemed heavily nevertheless, while suddenly a competitor born 2 days ago is getting it all? Exactly! It feels definitely organic and not manipulative at all. Some people never learn." For the record, the Twitter account of First Digital Labs (FDUSD) has a mere 585 followers. It's intriguing to watch the outcome of this power struggle. Is this just the tip of the iceberg? Fingers crossed, this won't escalate into a challenge for a bout in the octagon, as seems to be a popular move among billionaires...

In a pivotal ruling on July 25, Judge Philip Jeyaretnam of the Singapore High Court declared cryptocurrency as personal property, placing it on par with fiat money. Judge Jeyaretnam's elucidation is notable for the legal status of digital assets. It was stemmed from a case where ByBit accused its former employee, Ho Kai Xin, of illicitly transferring approximately 4.2 million USDT from the company's coffers to personal accounts. The court mandated Ho to return the funds to cryptocurrency exchange.

Company’s CTO Paolo Ardoino has shared his excitement about a mobile app designed to facilitate international purchases settlements B2B, B2C and C2C based on USDT and XAUT payments. Notably, the app will also incorporate support for Bitcoin Lightning. Paolo stated that he envisions this app as the future of trade finance. Having personally reviewed the code, his experience as a developer has left him genuinely impressed. Currently, the app is in its testing stages, with more specifics yet to be unveiled.

Renowned business analyst Adam Cochran recently shared insights concerning Huobi's financial state and its potential insolvency. Key takeaways from Adam's analysis: Investigation Underway: Both Huobi and Tron are facing scrutiny, with their staff being questioned by the police. Unusual Asset Distribution: After Justin Sun's introduction of wrapped USDT (stUSDT), a whopping 98% of user assets intended for Tether bond redemptions ended up in the wallets of Huobi and Justin Sun. Discrepancy with USDT Balance: Huobi's reported USDT balance is just $63 million, but their users hold a staggering $631 million worth of USDT. Something doesn't add up here. ETH Holdings in Question: It appears that Huobi is holding all of its users' ETH as stETH, raising eyebrows about their handling of customer assets. Binance Making Moves: Meanwhile, Binance is actively selling USDT and purchasing DAI, possibly indicating a shift in market dynamics. Outdated Reserves Page: It's been a whole month since Huobi last updated its reserve page, and discrepancies between the reported figures and wallet balances need clarification.

A user fell victim to a 'Zero Transfer Phishing' scam, losing $20 million USDT. These malicious parties imitated a few characters in the wallet address to deceive the unsuspecting victim. Fortunately, Tether reacted swiftly and froze the assets in just 50 minutes.Always stay vigilant when copying wallet addresses from transaction records.Scammers create custom smart contracts to generate look-alike addresses and dupe potential victims. Correct Address: 0xa7B4BAC8f0f9692e56750aEFB5f6cB5516E90570 Phishing Address: 0xa7Bf48749D2E4aA29e3209879956b9bAa9E90570

The token is already trading on the Bybit exchange as WLD/USDT. The listing on other centralized exchanges is scheduled for later today. In the first minutes of trading, WLD saw a 600% increase.