📰 Table Of Contents
Tether Collaborates with Chainalysis
Tether, the issuer of the world’s largest stablecoin, has partnered with the blockchain data platform Chainalysis to enhance monitoring of secondary market activity and combat illicit actions.
Enhancing Compliance Measures
Tether is launching new monitoring and analysis tools in collaboration with Chainalysis to identify wallets posing risks or associated with illicit or sanctioned addresses. This proactive approach aims to make the USDT ecosystem safer for transactions.
Monitoring Secondary Market Activity
Tether defines “secondary market activity” as transactions conducted beyond direct purchases from Tether. The tools developed by Chainalysis will enable Tether to systematically monitor transactions, providing oversight of the USDT market.
Record Profit and Risk Assessment
In the first quarter of 2024, Tether reported a net profit of $4.52 billion, driven by financial gains on Bitcoin and gold. However, the stablecoin faces scrutiny, with a ‘constrained’ rating of 4 from S&P Global Inc. due to limited disclosure.
About Stablecoins
Stablecoins like Tether are cryptocurrencies pegged to fiat currencies or commodities. Tether, established in 2014, remains the longest-standing stablecoin with the largest circulation volume, maintaining price stability over recent years.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
