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Tether’s USDT Is Coming to Bitcoin and the Lightning Network
The largest stablecoin is integrating with the Bitcoin network, Tether Paolo Ardoino announced at a Bitcoin conference in El Salvador.
Tether, the world’s largest stablecoin issuer, is coming to Bitcoin.
USDT, the company’s dollar-backed stablecoin, will soon be fully functional across both Bitcoin’s base layer and the Lightning Network, a Bitcoin scaling network, Tether CEO Paolo Ardoino announced onstage Thursday at a Bitcoin conference in El Salvador.
The integration marks a significant milestone for both Tether and Bitcoin, two dominant forces in crypto that had yet to combine forces. At a market capitalization of over $139 billion, USDT is handily the world’s top stablecoin, used by hundreds of millions of people worldwide as a secure form of payment linking traditional finance to the crypto economy.
Bitcoin, meanwhile, is by orders of magnitude the world’s largest and most influential cryptocurrency. But the Bitcoin network itself has been slow to attract on-chain users, given that it was not initially designed to support decentralized applications.
Scaling networks like the Lightning Network have filled in the gaps, making layer-2 transactions on Bitcoin cheap and speedy, and enabling the integration of assets like USDT into the Bitcoin ecosystem.
“Today marks a new era for stablecoins,” Elizabeth Stark, CEO of Lightning Labs, the leading developer of infrastructure on the Lightning Network, said Thursday in a statement. Lightning Labs developed the protocol that will allow USDT to integrate with the Bitcoin network.
“Millions of people will now be able to use the most open, secure blockchain to send dollars globally,” Stark continued. “It all comes back to Bitcoin.” Read More
New era in mining: How tokenization can transform the salt industry
An innovative approach reshapes salt mining, unlocking investment access and setting new benchmarks across global industries.
Tokenization is reshaping industries, and the mining sector is no exception. As the process by which real-world assets (RWAs) are digitized and traded via blockchain, tokenization introduces a profound transformation to the mining industry where everyone can own a fraction of a massive mining facility — sharing its profits and growth.
The Consorcio Salinero de Tarapacá (CONSA) aims to drive this transformation by tokenizing its mining operations to fund ambitious growth plans. Through the innovative use of blockchain technology, CONSA unlocks opportunities for global investors while positioning itself as a prominent player in the salt market.
A tidal wave in the salt market:
Salt is a cornerstone of modern industry, finding use in everything from agriculture to clean energy. Industrial salt enjoys growing demand in parallel to the evolution of the global economy. By tokenizing its operations, CONSA allows investors to benefit from this expanding market without requiring significant capital outlay. Each CnS token represents a fractional share in CONSA’s profits, creating unprecedented accessibility and liquidity in the mining industry.
Projections indicate that the industrial salt market may grow from 233 million tons in 2024 to over 260 million tons by 2029, driven by applications in chemical manufacturing, water treatment and energy generation. Chile’s abundant salt reserves provide a competitive advantage, and CONSA is well-positioned to meet rising demand. Read More
Cardano Foundation research shows ‘fundamental shift’ in blockchain use
The majority of projects involved the authenticity vertical, establishing confirmed identity and legitimacy through secure verification.
The Cardano Foundation, a nonprofit organization dedicated to advancing Cardano adoption, released an ecosystem guide showcasing how projects on the Cardano blockchain address enterprise needs.
On Jan 23, the foundation revealed the results of its research examining 582 projects building on the Cardano blockchain. The nonprofit illustrated how projects in Cardano fit into three verticals: traceability, authenticity and sustainability.
The research found that 30% of projects were focused on traceability, which the foundation described as creating transparent, immutable records to verify digital and physical assets. Another 15.4% of the projects emphasize sustainability, supporting social and ecological initiatives.
The largest share, 54.6%, focused on authenticity, using secure verification methods to establish identity and legitimacy.
Explaining the foundation’s focus on the three verticals, Cardano Foundation CEO Frederik Gregaard told Cointelegraph:
“Traceability, authenticity and sustainability represent critical pillars in today’s blockchain ecosystem. [...] These verticals demonstrate Cardano’s potential to address real-world challenges. They form the foundation for responsible innovation while delivering solutions for enterprises and consumers alike.” Read More
SEC cancels controversial crypto accounting rule SAB 121
The US Securities and Exchange Commission has revoked a rule that discouraged financial firms from holding crypto, by requiring them to record digital assets as liabilities on their balance sheets.
The Securities and Exchange Commission has canceled a controversial rule that asked financial firms holding crypto to record them as liabilities on their balance sheets.
A new Staff Accounting Bulletin on Jan. 23 said it “rescinds the interpretive guidance” of SAB 121, an agency rule published in March 2022 that the crypto industry has long sought to cancel.
“Bye, bye SAB 121!” SEC Commissioner Hester Peirce, the agency’s crypto task force lead, wrote in a Jan. 23 X post. “It’s not been fun.”
The SEC published SAB 121 in March 2022, which asked financial firms holding crypto on behalf of customers to report the assets as a liability on their balance sheet. The crypto industry pushed back on the measure, saying it would make holding crypto administratively more difficult.
House Financial Services Committee Chair French Hill said in a statement on X he was “pleased” to see the “misguided SAB 121 rule has been rescinded.”
”Holding reserves against the assets held in custody is NOT standard financial services practice,” Hill said. Read More
The Significance Of Markethive Amidst The Crypto Renaissance
A profound economic transformation is on the horizon, driven by the transformative power of cryptocurrency and the decentralized technologies of Web 3. This seismic shift will be remembered as a pivotal moment in human history, rivaling the transformative impact of the original Renaissance. In the 15th century, groundbreaking innovations like ledgers and the printing press sparked the Renaissance and forever altered the course of global development. Similarly, the crypto renaissance is set to bring about positive changes in the global economy, offering a sense of optimism and reassurance.
This article highlights the correlation between the historical Renaissance, where populations were essentially freed from a life of serfdom, and the pervading crypto renaissance we see unfolding today. We also discuss the importance of Markethive’s position and how it aligns with this economic resurgence. Markethive, a decentralized platform, plays a crucial role in this revolution, enabling autonomy, financial sovereignty, and wealth distribution in a dynamic crypto-enabled ecosystem. It marks the creation of a renaissance within Markethive, positioning it as a key player in the crypto renaissance.
In medieval times, access to education was primarily reserved for the upper echelons of society. Fewer than one in twenty individuals received any kind of formal instruction, which frequently excluded basic literacy skills. However, the Renaissance era ushered in two groundbreaking technological advancements that would have a lasting impact on human history: the development of ledgers and the invention of the Gutenberg printing press. Read More
Government Sanctions on Tornado Cash Reversed by U.S. Courts in Landmark Ruling
A new court ruling has reversed the sanctions placed on crypto mixer Tornado Cash (TORN) by the US government.
According to a recent filing by the New Orleans-based U.S. Court of Appeals for the Fifth Circuit, the previous decision to place sanctions on the digital assets tumbler has been lifted.
“It is ordered and Adjudged that the judgment of the District Court is reversed, and the cause is remanded to the United States Court of Appeals District Court for further proceedings in accordance with the opinion of this Court.”
Tornado Cash was first sanctioned by the Treasury Department’s Office of Foreign Asset Control (OFAC) after being deemed a threat to the nation’s security as hackers associated with the government of North Korea were believed to have used it to clean stolen funds.
Crypto mixers allow users to obfuscate the source of their digital assets by mixing them with other coins from different sources and giving each user back the dollar amount they put in. Read More
Crypto unlocks a borderless world and merchants hold the key to the future
Cryptocurrency adoption by merchants is reshaping global commerce, driving financial inclusivity and enabling a borderless future.
Over the last decade, digital payments have grown from a niche convenience to global commerce’s backbone. Instant transfers and contactless payments are now the norm, reflecting a globalized demand for speed, efficiency and accessibility.
With giants like Visa constantly pushing new solutions, digital wallets are predicted to account for more than 50% of e-commerce transactions by next year. The idea that traditional finance and cryptocurrency oppose each other is fading. Hybrid solutions that serve global financial inclusivity are primed to take root.
A parallel is emerging between two prominent trends at the core of this shift. With the global blockchain in the retail market set to hit $26 billion by 2033, the progression of cross-border transactions and merchant crypto adoption is growing inseparable.
More efficient cross-border solutions are in high demand, with the sector predicted to reach an estimated value of $56 trillion by 2030. Simultaneously, the rate of crypto adoption among global merchants is steadily increasing. Around 30,000 currently accept Bitcoin payments. This number will rise, as will the adoption rates of other trusted cryptocurrencies.
As more businesses accept crypto, its utility will be enhanced. Adoption will help speed up and strengthen the much-needed reform to a traditional banking infrastructure, which was accountable for $3.8 billion of failed cross-border transactions in 2023.
With consumers ever thirsty for quicker, cheaper, more accessible payment options, a ripple effect of mutual reinforcement is sculpting a new landscape for global commerce. Read More
MetaMask and Ramp Network partnership lets users cash out directly from L2 networks
MetaMask users can now withdraw Ether from layer-2 networks directly into fiat currencies via Ramp Network.
Ramp Network, an on- and off-ramping solution, has announced that MetaMask users can now withdraw Ether directly from layer-2 (L2) networks into fiat currencies thanks to an expanded partnership between the two entities.
Ramp Network says the integration will simplify the traditional, more complex crypto cashout process by enabling faster and cost-effective withdrawals from L2 networks like Optimism, Polygon and BNB Chain.
The new feature, which supports over 35 fiat currencies, is intended to provide users with an alternative to mainnet withdrawals often associated with higher fees and delayed processing times.
This comes at a time when many Ethereum L2 users are seeking more direct access to turn their crypto wallet funds into cash without transferring them to an exchange. Read More
Coinbase asks appeals court to rule crypto trades aren’t securities
Crypto exchange Coinbase asked a US appeals court to rule crypto trades are not securities in its continued fight against a Securities and Exchange Commission lawsuit.
In a Jan. 21 filing to the Second Circuit Court of Appeals, Coinbase said understanding if secondary market crypto transactions are investment contracts under securities laws is of “immense importance to the crypto industry.”
“This case presents an ideal vehicle to address that question and provide clear rules for this multi-trillion-dollar industry,” it said.
“Without it, market participants face different rules before different courts, and neither the Commission nor Congress can be certain who is responsible for the regulation of digital-asset trading,” Coinbase wrote.
The SEC sued Coinbase in June 2023, alleging the crypto exchange was an unregistered securities exchange and alleged Coinbase hadn’t registered as a broker, national securities exchange or clearing agency, evading the disclosure scheme for securities markets. Read More
White House Crypto Czar David Sacks: NFTs and Meme Coins Are 'Collectibles'
Are NFTs and meme coins assets, currencies, or something else entirely? According to White House AI and Crypto Czar David Sacks, they belong in their own category: “Collectibles.”
“Well, when you’re talking about digital assets, it can be multiple things,” Sacks said during a Fox Business interview on Thursday.
“I mean, you’ve got digital assets that are securities, you’ve got digital assets that are commodities, you’ve got digital assets that are collectibles like NFTs or meme coins. So you’re talking about a whole vast area of innovation.”
The distinction as a collectible could alter how NFTs and meme coins are perceived, potentially granting them legitimacy as assets with cultural and commemorative value rather than speculative risks.
Sacks also weighed in on the Solana-based Official Trump (TRUMP) meme coin, a token officially tied to President Trump. “I think the Trump coin is a collectible,” he said, stating it falls under the same category as NFTs or meme coins.
“It’s like a baseball card or a stamp,” the crypto czar said. “People buy it because they want to commemorate something.” Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
Featured Image Source: Pixabay
