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Tether's just dropped a bombshell. The stablecoin issuer minted $1 billion USDT on the Tron network. This move brings their total minted tokens in the past year to a whopping $33 billion. Blockchain data spilled the beans on August 20. Tether created the tokens and sent them to its treasury wallet. Lookonchain, an on-chain analytics platform, crunched the numbers. The platform revealed some eye-opening stats. Tether's been busy. They've minted $33 billion in stablecoins over the last year. That's no small change. The breakdown is interesting. Tron network saw 19 billion USDT tokens minted. Ethereum wasn't far behind with 14 billion. This latest mint follows a similar move on Ethereum. On August 13, Whale Alert flagged a $1 billion transaction there too. Talk about déjà vu. Tether's CEO, Paolo Ardoino, chimed in on X. He called the Ethereum transaction a "USDT inventory replenish". It's authorized but not issued yet. What does that mean? Well, it's like restocking shelves. Tether's getting ready for future demand. They're creating USDT to meet upcoming issuance requests and chain swaps. Tether's staying mum on the Tron mint. But it's likely serving the same purpose as the Ethereum one. They're probably running low on USDT on Tron. Their Transparency page backs this up. As of August 19, Tether had only $36 million USDT tokens on Tron that were "authorized but not issued". Demand's looking strong on Tron. Speaking of Tron, it's leading the stablecoin supply market. Coin Metrics data from August 16 shows it commands 37.9% of the total market share. That's over $61 billion in stablecoins. Not too shabby. This move by Tether is raising eyebrows in the crypto world. It's a clear sign of growing demand for USDT, especially on the Tron network. As the stablecoin market continues to evolve, all eyes will be on Tether's next moves.

Celsius Network is going after Tether. The bankrupt crypto lender filed a lawsuit demanding the return of $3.35 billion worth of Bitcoin. And beyond any doubt, this is a story that might have an unpredictable outcome with a massive influence on the market. The legal drama kicked off in New York's Southern District court. Celsius wants its Bitcoin back, pronto. Here's the lowdown: Celsius transferred 39,542.42 BTC to Tether as collateral. That's a whopping $2.31 billion at current prices. But that's not all. The lender is also after another 17,886.22 BTC, worth about $1.05 billion. Celsius claims Tether used the assets to pay off outstanding loans. They say it happened when Celsius was going belly-up. The lender's lawyers aren't pulling any punches. They're calling it a "preferential transfer" under bankruptcy law. "These transfers should be avoided and recovered," Celsius's legal team stated. They want Tether to cough up damages too. Tether's not taking this lying down, in case you wondered, as they've resolutely dismissed the lawsuit as a "meritless shakedown." That implies they are going to stand their ground. "The complaint is undermined by actual facts," Tether fired back. They're planning to duke it out in court. This legal tussle is shaping up to be a real crypto slugfest. It's anyone's guess how it'll play out. The crypto world is watching closely. This case could set some serious precedents for the industry. As the drama unfolds, one thing's clear: there's no love lost between these former crypto allies.

Circle CEO Jeremy Allaire (the man in charge of USDC) has made a bold prediction about the future of digital assets. In a recent interview, he suggested stablecoins could capture a significant portion of the electronic money market. Allaire compared stablecoins to online videos. He noted how streaming gradually eroded cable TV's dominance. He believes stablecoins will do the same to bank-held electronic money. "You have currently a total addressable market of about $100 trillion of legal electronic money," Allaire stated. He added, "Most of that is bank-intermediated electronic money." Allaire reckons stablecoins will chip away at this market. He cited their "internet-scale utility" and "programmability" as key advantages. His forecast? In a decade, stablecoins could snag 5% of global electronic money. "That would be extraordinary and seems very achievable," he said. It's a pretty wild claim. But Allaire's not just blowing smoke. He's got some solid reasoning behind it. Stablecoins, he argues, will slash transaction costs. They could make moving money as cheap as sharing information online. "I believe the same principle is going to apply here with blockchain networks and stablecoins," Allaire explained. He predicts the cost of storing and moving value will approach zero. This cost reduction could be a game-changer. Allaire believes it'll ramp up the velocity of money big time. As a result, he expects demand for stablecoins to skyrocket. It could even outstrip demand in the current system. Allaire admits the exact implications are unclear. But he's certain the total addressable market for money will expand. Why? Because "we've restructured the actual economics of how this works." It's a hefty prediction from a major player in the crypto world. Only time will tell if Allaire's crystal ball is on the money.

The stablecoin market is on a roll. It's grown for ten straight months. In July, it hit $164 billion. That's a 2.11% jump, according to CCData. Tether's still the big dog. It grew 1.61% to $116 billion. That's an all-time high. It's been climbing for eleven months straight. DefiLlama says Tether owns nearly 70% of the market. USDC, the runner-up, is making moves. Its trading volume shot up 48.1% to $135 billion in July. Why? New EU rules and more market funds. The EU's crypto law, MiCA, kicked in last month. It's shaking things up. USDC was ready. It ticked all the boxes. Traders loved that. PayPal's stablecoin is the dark horse. It surged 17.9% to $589 million. That's its highest ever. Not bad for the new kid on the block. But it's not all sunshine and rainbows. Overall stablecoin trading dropped 8.35% to $795 billion. Centralized exchanges are struggling. MiCA's causing headaches for some. Tether's future in Europe? It's up in the air. The new rules are tough. Stablecoin issuers need an EU base. They need to file paperwork. Big players face even stricter rules. USDC and EURC jumped through the hoops. They're compliant. Traders trust them more now. It's paying off. The stablecoin landscape is changing fast. Compliance is key now. It's adapt or die in the EU market. Despite the hurdles, the market's growing. Spot Ethereum ETFs and Bitcoin 2024 Conference vibes are helping. The crypto world never sleeps, does it?

Stablecoins are having a moment. Their market cap hit $164 billion in July. That's the highest since April 2022. It's a 2.1% bump from June. Circle's USDC is the star of the show. Its trading volume on centralized exchanges reached a whopping $135 billion by July 25. That's a 48% jump. Not too shabby. USDC's market cap also rose 5.4% to $33.6 billion. What's behind this surge? Two things: market inflows and new EU rules. On July 1, the EU's Markets in Crypto-Assets (MiCA) framework kicked in. Circle was quick off the mark. They became the first stablecoin issuer to get the regulatory green light in Europe. Tether, the big dog in the stablecoin world, grew too. But slower. Its market cap hit $114 billion, up 1.6% in July. That's 11 months of growth in a row. Pretty solid. Tether's still top dog, though. DefiLlama says it's got nearly 70% of the stablecoin market. And get this – Tether reported record profits of $5.2 billion in the first half of 2024. Not too shabby. But it's not all rosy. Trading volume on centralized exchanges dropped 8.4% to $795 billion by July 25. That's the fourth month in a row it's gone down. Bit of a bummer. The new EU rules are shaking things up. Some crypto exchanges in Europe delisted stablecoins before the June 30 deadline. Talk about a last-minute scramble. The new rules are pretty strict. Stablecoin issuers need to be based in the EU. They've got to notify authorities and submit a white paper for approval. Big stablecoins face even tougher rules. Tether's CEO, Paolo Ardoino, isn't thrilled. He said in May, "Very few banks accept this type of business in Europe. It's already very difficult to get just one!" Sounds like a headache.