USDT News: Aptos Stablecoins Surpass $1 Billion Market Cap, USDT Dominates with 75% Share
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In recent cryptocurrency news, the Aptos protocol has witnessed a significant milestone with its stablecoins reaching a market capitalization of $1 billion. Here’s a closer look at the development and its implications.
Aptos Stablecoins Hit $1 Billion Market Cap
The market cap of stablecoins on the Aptos protocol has reached $1 billion this week, according to data shared by Messari. This shows a recent increase in stablecoin inflows to the blockchain, with a rise of $200 million this week. The growth is mainly contributed by the recent increase of the USDT stablecoin, which now owns a 75% share of stablecoin market on Aptos.
US Government Seizes Crypto Funds Allegedly Earmarked for Hamas
The US Justice Department announced Thursday that it has seized $201,400 in crypto traced to fundraising addresses controlled by Hamas, marking a targeted strike against the group’s financing network. According to a statement, investigators identified the seized funds as Tether (USDT) that flowed through addresses used to launder more than $1.5m in virtual currency since Oct. 2024. The funds were earmarked for Hamas’ operations. Court documents reveal that an encrypted messaging group claiming affiliation with Hamas provided supporters worldwide with at least 17 rotating crypto addresses. Donors sent digital currency into a central operational wallet, which was then laundered via a chain of virtual‑currency exchanges and over‑the‑counter brokers.
Tether Mints $1 Billion in USDT Tokens to Meet Future Demand
Tether, the issuer of the largest stablecoin by market capitalization, has minted $1 billion worth of USDT tokens for inventory restocking or replacements. According to CEO Paolo Ardoino, this move is part of an inventory replenishment process on the Tron network. The minted tokens are not yet in circulation but are expected to be available to meet future demand. Tether has gained 400 million active users, surpassing the United States population.
