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Tether Holdings Limited, the Hong Kong-based company and the issuer of USDT, the world’s largest stablecoin by circulating supply, has frozen an account holding over $4.1 million of the token on Ethereum, on-chain data on June 19 reveals. Tether freezes $4.1 million of USDT on Ethereum Tether froze $4.11 million of USDT on June 19 without explaining, records captured by WhaleAlert on the same day reveal. You might also like: Tether CTO says $1b USDT minted on Ethereum reserved for chain swapping On Etherscan, an analytics platform for tracking ethereum (ETH) and Ethereum-based tokens, records show that the USDT issuer had marked the wallet as frozen. At the same time, the associated address had four tokens in total. Besides the USDT, other assets were labeled as “suspicious.” It could not be immediately verified where the funds were from and why the USDT issuer decided to freeze the account.  On Reddit, a user observed that the frozen account b...

The plan to expand its workforce comes just months after it mutually called off its plans to go public via a SPAC merger. USD Coin (USDC) issuer Circle plans to increase its workforce by 15-25% in 2023 amid a sea of layoffs across the industry, reported the Wall Street Journal. At a time when a significant chunk of industry-wide firms is laying off staff to mitigate their financial woes, Circle has gone against the tide to hire more people.   41% of all layoffs in 2023 came from the cryptocurrency industry. Major cryptocurrency firms that made significant employee cuts include Polygon, Chainalysis, Bittrex, Huobi, Crypto.com, Coinbase, Gemini, Genesis, and Wyre. A major factor behind crypto companies reducing manpower was attributed to the prolonged crypto winter and a number of crypto implosions that wiped out billions from the balance sheets of numerous companies associated with them. However, the large-scale crypto industry layoffs were not in isolation. Around 48,000 people in...