According to Whale Alert monitoring, at 21:25:11 Beijing time, an address holding 1,000,000 USDT on the Ethereum blockchain has been frozen.

Tether Holdings Ltd has announced a 3-year plan to invest $500 million in its Bitcoin mining venture, with the aim of becoming one of the world's top Bitcoin mining companies. The funds will be used to construct crypto mining sites and purchase stakes in other companies. Tether hopes to hit 120 megawatts in its mining operations by the end of the year and 450 megawatts by the end of 2025. This move marks a pivot away from Tether's USDT token and could transform the competition around it.

According to Bloomberg's report, Tether Holdings Ltd. is taking steps to become one of the world's top Bitcoin miners. The company's incoming CEO, Paolo Ardoino, stated in an interview that the company plans to invest approximately $500 million over the next six months to achieve this goal by building its own mining facilities and investing in other companies. This investment includes a portion of the $610 million credit arrangement provided by Tether to the Bitcoin mining company Northern Data AG, which went public this month. Tether also acquired shares of Northern Data AG in September.

Tether announced that the Chief Judge of the Federal District Court in the Southern District of New York rejected Shawn Dolifka's class action lawsuit against Tether and Bitfinex, and Dolifka decided not to appeal. The judge ultimately ruled in favor of Tether and Bitfinex, dismissing the lawsuit. In the statement, Tether stated that Dolifka's decision to waive his right to appeal was the correct decision, as his claims had no basis, and further litigation would not bring any economic or other benefits to him or his lawyers. Tether emphasized that they will never become victims of shameless litigation extortion.

Binance has transferred around $3.9 billion in tether (USDT) from its Tron-based 'Binance-Cold 2' wallet to its 'Binance 3' hot wallet. Out of this, $300 million was sent to 'Binance-Hot 7', leaving approximately $3.6 billion in 'Binance 3'. The transfer is one of the largest tether transactions on Tron to ever occur. Binance's stablecoin activities have come under scrutiny after its failure to appropriately manage Binance-Peg BUSD, and it currently faces lawsuits from the Commodity Futures Trading Commission and Securities and Exchange Commission.

Tether CEO Paolo Ardoino announced on X platform that another "extremely powerful piece" will soon be added to the Tether ecosystem. In 2024, there are a total of 5 projects (and more to come), some of which may permanently eliminate popular Web2 centralized services, and focus on the pure real-world ecosystem, also known as "what people really need". In October, Paolo Ardoino announced on X platform that Tether RWE (Real World Ecosystem) will be launched. The platform will leverage Tether's experience in building financial technology and focus on real-world assets (RWA).

According to Whale Alert monitoring, Tether minted 1 billion USDT on the Tron network at 5:06 on November 11th Beijing time. Tether's Chief Technical Officer Paolo Ardoino stated that this was an authorized but not yet issued transaction, which means it will be used as inventory for the next issuance request and on-chain exchange.

US lawmakers proposed a new bill called CLARITY on Wednesday, which prohibits federal government officials from conducting business with Chinese blockchain companies. The bill also explicitly prohibits US government officials from trading with iFinex, the parent company of Tether, the issuer of the world's largest stablecoin, USDT. The bill also prohibits US officials from trading with The Spartan Network, The Conflux Network, and Red Date Technology Co. (the development company behind the digital yuan). It is reported that the CLARITY bill is co-led by US Representatives Zach Nunn (Republican from Iowa) and Abigail Spanberger (Democrat from Virginia), aimed at prohibiting US government officials from trading with Chinese crypto companies and cutting off government employees' access to networks supporting blockchain or cryptocurrency trading platforms in China. Neither of the bill's two sponsors are members of the US House leadership or hold important positions in committees.

Data monitored by Whale Alert shows that at around 7:02 Beijing time, 1,000,000,000 USDT (1,000,742,500 USD) was minted at Tether Treasury. Tether's CEO, Paolo Ardoino, stated that this 1 billion USDT was a supplement to Tron's network inventory. This is an authorized but unissued transaction, meaning that the additional issuance will be used for the next issuance request and inventory for chain exchanges.

According to a new attestation report from BDO, Tether's reserves were made up of approximately 86% cash and cash equivalents as of September 30, which is the highest percentage ever. The report shows that $56.6 billion worth of reserves are in U.S. Treasury bills with a maturity date of less than 90 days, while another $8.8 billion was held in reverse repurchase agreements involving these bills. Tether has reduced its reliance on secured loans, which now make up only $5.1 billion worth of USDT reserves. BDO publishes attestations of Tether's reserves every quarter, with a one-month lag between the end of the quarter and the publication of the report.