USDT depegged today but Why?

Updated

About 12 hours ago, whale"0x3356" created a new address to deposit 52.52M USDC and borrowed 40M USDT on Aave and Compound then he started depositing 40M USDT into Coinbase and Kraken 6 hours ago, USDT started depegging after whale"0x3356" deposited USDT to exchanges
and whale"0x3356" withdrew 25M USDC from Coinbase 4 hours after depositing USDT.

then about 5 hours ago, 2 whales sold a total of 9.6M USDT at a similar time after USDT depegged, CZSamSun shorted USDT on AaveV2 4 hrs ago,Whale"0xd275" started to borrow USDC from Aave and Compound and buy USDT for arbitrage after CZSamSun shorted USDT

USDT started back to the peg, but due to multiple FUDs, whales keep dumping USDT
USDT further depegged..

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Tether announced that the New York Attorney General’s Office provided responsive documents to CoinDesk this morning, today’s attack on USDT via both DeFi and CEX occurred on the day that materials were handed over. Tether called on Coindesk not to disclose information about its past and current customers

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USDT almost recovered

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Tether will stop minting and issuing USDT on Kusama, Bitcoin Omni, and BCH from today

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Tether updated its reserve report. As of August 24, Tether's total assets were US$86.1 billion, its total liabilities were US$82.8 billion, and its reserve ratio exceeded 100%. Tether currently has a liquidity buffer of $3.29 billion across 15 blockchains, with total assets made up of USDT, EUR₮, CNH₮, XAU₮, MXN₮

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Tether purchased 10,000 Nvidia H100 GPUs worth $420 million in exchange for a 20% stake in Northern Data, Europe’s largest Bitcoin mining company, which plans to lease these GPUs to artificial intelligence startups

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1.347 billion USDT was transferred to Binance.

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Binance will restrict the availability of Unauthorized Stablecoins for EEA users across its product offerings, starting from 2024-06-30 (UTC+3). On 2024-06-30 (UTC+3), the new MiCA stablecoin rules will come into effect across the European Economic Area.

Tether CEO Paolo Ardoino expressed concerns about the EU MiCA and its impact on stablecoins, saying that these requirements would make the work of stablecoin issuers extremely complicated and would make EU-licensed stablecoins extremely vulnerable and riskier in operation

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Tether reached a capitalization of $113 billion

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Tether plans to double its staff to 200 in the next year to strengthen compliance, etc. The company is using more automated tools to monitor potential illegal activities involving USDT in the secondary market

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Celsius filed a lawsuit against Tether on Friday in an attempt to claw back Bitcoin worth $2.4 billion that the company says Tether sold improperly at the bottom of the market as the crypto lender began to collapse.

Tether has vowed to defend itself against the lawsuit, which CEO Paolo Ardoino described as “baseless” and “bullying.”

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Tether announced today that it will soon launch USDT on the Aptos network and this integration is part of Tether’s broader strategy to leverage Aptos’ blockchain technology, speed, and scalability to make digital currencies more accessible and usable around the world

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Tether Holdings, the issuer of the stablecoin USDT, recently said that the company has abandoned plans to launch its own blockchain. As long as the highest level of security and sustainability can be ensured, it does not mind which blockchain USDT is traded on.

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Tether’s USDT surpasses $ 120 billion market cap

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Tether expands its USDT stablecoin to the Aptos L1. USDT’s integration on Aptos will bring low gas fees “costing only a fraction of a penny.” Previously, Tether presented a preview of its Local AI development kit powered by peer-to-peer technology.

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