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USDT Now Available on Kava Tether announced in its blog that U.S. dollar-pegged Tether tokens (“USDT”) will be launched on Kava, known for its scalability and speed. Paolo Ardoino, the Chief Technology Officer at Tether, expressed excitement about the partnership, stating, advertisement “We’re thrilled to be launching USD₮ on Kava , offering its strong community access to the world’s first, most stable, most trusted, and most widely used stablecoin .” Ardoino also highlighted the Kava network’s impressive track record of four years with zero security issues, emphasizing the importance of protecting USDT users. Tether’s decision to launch on the Kava platform further strengthens its position as the leading stablecoin in the market. Kava announced last month about its “Kava 13” mainnet update, upgrading its infrastructure to offer users greater security, scalability, functionality, and speed...

Matters Arising and Tether’s Response According to details in the released documents by the New York Attorney General ( NYAG ), the stablecoin issuer reportedly deactivated up to 29 accounts owned by top crypto players two years ago. It appears to be that most of the names on the list had their account terminated for different reasons. advertisement These reasons were not plainly stated but at the same time, Tether responded by stating that it does “not want to comment on any individual relationship, but everyone did pass the strict compliance checks at onboarding and ongoing monitoring required by Tether’s compliance policies.” Some of these accounts belonged to the likes of crypto trading platform MoonPay, embattled crypto lending firm BlockFi, crypto investment firm CMS Holdings and the now-shuttered crypto hedge fund Galois Capital.  Noteworthy, the NYAG ’s investigation ended as far back as February 2021 but it was discov...