USDT News: Tether’s On-chain Activity Hits Six-Month High Hinting at Market Recovery

Recent data indicates a significant surge in Tether’s (USDT) on-chain activity, potentially signaling a market recovery in the cryptocurrency space.

Tether On-chain Activity Surges to Six-Month High

Tether’s on-chain activity has risen rapidly, with over 143,000 daily transfers, surging to a six-month high. The USDT Network growth metric also increased, indicating greater blockchain usage. Tracy Jin, COO of MEXC, stated that lifting OCC restrictions for banks dealing with stablecoins in the US lowers barriers for new market participants. This on-chain activity hints at a potential market recovery according to Santiment data.

DeFi User Loses $700K in Uniswap Sandwich Attack, Speculated as Money Laundering

A DeFi user lost over $700K to a sandwich attack on the Uniswap exchange. The user swapped 732,583 USDC to USDT but only received 18,636 USDT. Experts speculated that the transaction could be a money laundering scheme due to how the funds were moved. The trader was attacked on six separate transactions with 100% slippage by MEV bots on Uniswap v3 protocol.

Tether’s Paolo Ardoino Makes U.S. Debut

Despite Tether’s outsized influence in crypto, it was Ardoino’s first major public appearance in the U.S., a country he had long avoided due to regulatory scrutiny. Ardoino, dressed casually in a light blue Ralph Lauren polo and gray khakis, spoke at Cantor’s Global Tech Conference. He described Tether as a company that made a shocking $13 billion profit in 2024 and controls over 60% of the stablecoin market. US agencies have consistently scrutinized Tether’s activities.