Nelson Wang / CoinDesk:
Stablecoin issuer Tether claims to have reduced its commercial paper holdings to zero, replaced with US Treasury bills, after saying it would by the end of 2022 — The company has been gradually replacing its commercial paper holdings with U.S. Treasury bills.
Sam Reynolds / CoinDesk:
A New York judge orders Tether to produce documents related to the backing of USDT in a lawsuit claiming Tether conspired to issue USDT to pump bitcoin prices — The order relates to an ongoing lawsuit that alleges that unbacked USDT issuances have caused $1.4 trillion in damage to the market.
Oliver Knight / CoinDesk:
Tether freezes FTX’s $46M in USDT on the Tron blockchain at the request of law enforcement while investigations occur — Tether received the request to freeze assets while an investigation occurs. — Stablecoin issuer Tether has frozen $46 million of USDT held on the Tron blockchain …
Parikshit Mishra / CoinDesk:
USDC stablecoin developer Circle ends its planned SPAC merger with Concord Acquisition Corp., announced in July 2021, by mutual agreement — The firm had announced plans to go public in July of 2021. — Circle, the company behind stablecoin USDC, has terminated its agreement …
Jamie Crawley / CoinDesk:
Binance will stop supporting the world’s second biggest stablecoin USDC and convert users’ USDC, USDP, and TUSD into its own stablecoin BUSD on September 29 — The action effectively removes the world’s second biggest stablecoin USDC as a tradeable asset on Binance’s platform.
Colin Wilhelm / The Block:
DC-based policy nonprofit Coin Center sues the US Treasury Department, saying the treasury overstepped its authority by sanctioning Tornado Cash in August 2022 — – The D.C.-based policy nonprofit sued the Treasury Department, saying it overstepped its authority when it sanctioned transaction mixer Tornado Cash in August.
Nelson Wang / CoinDesk:
Meta’s Reality Labs division posts a $3.67B loss for Q3 2022 on $285M in revenue vs. $406M est., up from its Q2 2022 loss of $2.81B on $452M in revenue — Meta’s revenues for the division came in at $285 million, down from $452 million in the second quarter.
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