Despite a recent dip in Bitcoin's price due to fake news of a spot Bitcoin ETF approval, Bitcoin is still performing well compared to other cryptocurrencies. The price of Bitcoin is currently up by 1.9%, trading above $28,700, and is expected to rally further due to significant USDT accumulation by top Tether wallets.

According to on-chain analyst Yu Jin, a whale transferred 7,416 ETH (approximately $11.64 million) to Binance for sale last night, and then withdrew 12.34 million USDT to repay the loan on Aave. The whale had leveraged long on ETH from June 12th to July 5th: borrowed 18.9 million USDT from Aave by mortgaging ETH, transferred it to Binance, and then withdrew 10,460 ETH at an average price of $1,806. This leveraged long on ETH resulted in a loss of about $1.22 million (-6.5%).

Data monitored by Santiment shows that during the cryptocurrency market volatility caused by false ETF news yesterday, Tether's whale wallet was hoarding USDT on a large scale. The largest wallets in the top 10 rankings have regained a quarter of the total USDT supply, and the trading volume on the top stablecoin chain has reached a two-month high.

Tether has frozen 32 blockchain addresses linked to terrorist groups in Israel and Ukraine, holding assets worth $873,118.34. The move was made in collaboration with Israel's National Bureau for Counter Terror Financing to combat crypto-funded crime. Tether has previously frozen millions of dollars lost to DeFi hackers and phishing scammers, but refused to freeze addresses tied to privacy protocol Tornado Cash after the US Treasury placed sanctions on it last year. Tether has complied with 31 different agencies worldwide to freeze over $835 million in criminal-connected crypto to date.

On October 16th, Tether has frozen 32 addresses related to terrorism and war in Israel and Ukraine, which collectively hold 873,118.34 USDT. Tether stated that it has assisted 31 institutions globally in investigating 19 jurisdictions, resulting in the freezing of assets totalling $835 million, primarily related to theft (hacker attacks), with a small portion related to other crimes.

Paolo Ardoino, the new CEO of Tether, revealed on social media that the Tether Real World Ecosystem is about to launch.

Tether's Chief Technology Officer, Paolo Ardoino, will take over as CEO from December, the company announced on Friday. The current CEO, Jean-Louis van der Velde, will transition to an advisory role. Tether issues a stablecoin, also called Tether, which is widely used in crypto-to-crypto trading and has $83.5 billion worth of tokens in circulation, making it the third-largest cryptocurrency after bitcoin and ether. Ardoino, who became CTO in 2017, is known as the public face of the company and has a background in computer science and cryptography.

According to official sources, Paolo Ardoino, the Chief Technology Officer of Tether, will become the new CEO of Tether in December 2023. The current CEO, Jean-Louis van der Velde, will become an advisor to Tether and retain his position as Bitfinex CEO. Ardoino will continue to serve as the Chief Technology Officer of Bitfinex and the Chief Strategy Officer of Holepunch.

According to a report from Chainalysis, between June 2022 and July 2023, Tether, Bitcoin, and Ethereum accounted for 83% of Brazil's cryptocurrency demand. During that period, Tether accounted for about 52% of the country's investor trading demand, Bitcoin accounted for 25%, Ethereum accounted for 6%, while other altcoins totaled just over 17%. Chainalysis categorizes Brazil as a "unique market in Latin America."

Coinbase executive Conor revealed on social media that blockchain data shows Alameda is responsible for the issuance of 39.55 billion USDT, which accounts for 47% of Tether's current circulating supply. It is reported that a previous report by Protoss estimated this number to be around 36.7 billion US dollars.