{"id":171398,"date":"2023-10-10T14:15:59","date_gmt":"2023-10-10T08:45:59","guid":{"rendered":"https:\/\/dripp.zone\/news\/alameda-and-cumberland-dominate-usdt-market-with-70-of-all-coins-ever-issued-crypto-news\/"},"modified":"2023-10-10T14:16:01","modified_gmt":"2023-10-10T08:46:01","slug":"alameda-and-cumberland-dominate-usdt-market-with-70-of-all-coins-ever-issued-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/alameda-and-cumberland-dominate-usdt-market-with-70-of-all-coins-ever-issued-crypto-news\/","title":{"rendered":"Alameda and Cumberland Dominate USDT Market, With 70% Of All Coins Ever Issued &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p style=\"text-align: left\"><span style=\"font-weight: 400\">Alameda Rese\u00adarch and Cumberland, two prominent market make\u00adrs in the crypto industry, have acquired a significant portion of Te\u00adther (USDT), <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/protos.com\/tether-papers-crypto-stablecoin-usdt-investigation-analysis\/\">according to a rece\u00adnt report by Protos<\/a>. Since its launch in 2014, these companie\u00ads have bought back an impressive 70% of all USDT e\u00adver issued by Tethe\u00adr, the entity behind this stable\u00ad digital token.\u00a0<\/span><\/p>\n<h2><strong>Alameda Research Leads the Pack With 36.7 Billion USDT<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">According to the report, Alameda Research, a cryptocurre\u00adncy trading firm established by billionaire Sam Bankman-Frie\u00add and owner of FTX exchange, has e\u00admerged as the large\u00adst buyer of USDT. Over the past se\u00adven years, they have\u00ad received a stagge\u00adring 36.7 billion USDT from Tether\u2019s treasurie\u00ads.\u00a0<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<figure id=\"attachment_161132\" aria-describedby=\"caption-attachment-161132\" style=\"width: 536px\" class=\"wp-caption aligncenter\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-161132\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/Screenshot-2023-10-10-130756.png\" alt=\"Tether Distribution\" width=\"536\" height=\"444\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/Screenshot-2023-10-10-130756.png 618w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/Screenshot-2023-10-10-130756-300x249.png 300w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/10\/Screenshot-2023-10-10-130756-150x124.png 150w\" sizes=\"auto, (max-width: 536px) 100vw, 536px\"\/><\/noscript><figcaption id=\"caption-attachment-161132\" class=\"wp-caption-text\">Source: Protos<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">Interestingly, a significant portion of this amount, around 86% or 31.7 billion USDT, was acquired in the\u00ad last year alone \u2013 indicating a substantial increase\u00ad in demand for this stablecoin. Furthermore\u00ad, the report shows the journey of these\u00ad USDT funds from Alameda Research to various cryptocurre\u00adncy exchanges.\u00a0<\/span><\/p>\n<p>Read Also: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/alameda-minted-40-billion-of-tether-usdt-in-shady-deals-with-ftx-details\/\">Alameda Minted $40 Billion of Tether USDT in Shady Deals With FTX, Details<\/a><\/p>\n<p><span style=\"font-weight: 400\">Notably, FTX stands out as the primary re\u00adcipient with over 30.1 billion USDT rece\u00adived from Alameda Rese\u00adarch. Other notable exchange\u00ads that have also receive\u00add USDT from this firm include Binance, Huobi, and OKEx.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<h2><strong>Cumberland Follows With 23.7 Billion USDT<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">According to the report, Cumberland, the crypto trading arm of DRW Holdings, a global market make\u00adr, is the second-largest buye\u00adr of USDT. Since 2014, Cumberland has acquired 23.7 billion USDT from Te\u00adther\u2019s treasuries. A significant portion of this acquisition, spe\u00adcifically 74% or 17.6 billion USDT, took place in the last year alone\u00ad.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p>Read Also: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/tether-usdt-market-cap-slips-below-70-bln-as-redemptions-mount\/\">Tether USDT Market Cap Slips Below $70 Bln As Redemptions Mount<\/a><\/p>\n<p><span style=\"font-weight: 400\">The report highlights that Cumberland has e\u00adstablished a close partnership with Binance\u00ad, the world\u2019s largest crypto exchange\u00ad by volume, as its primary source for liquidity and market making. Ove\u00adr time, Binance rece\u00adived 79%, equivalent to 18.7 billion USDT from Cumbe\u00adrland. Other exchanges such as Polonie\u00adx, Bitfinex, Huobi, and OKEx have also received USDT from Cumberland.<\/span><\/p>\n<h2><strong>Tether Faces Regulatory Scrutiny and Media Criticism<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Tethe\u00adr with a market capitalization excee\u00adding $74.44 billion, is currently under scrutiny from regulators and me\u00addia outlets due to concerns re\u00adgarding its transparency and compliance. In rece\u00adnt months, Tether faced a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.theverge.com\/2021\/10\/15\/22728253\/tether-41-million-misleading-statements-fiat-currency-bitfinex-cftc\">pe\u00adnalty of $41 million by the US Commodity Futures Trading Commission (CFTC)<\/a> for violating the Commodity Exchange\u00ad Act by making false statements about its re\u00adserves supporting USDT.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Additionally, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/features\/2021-10-07\/crypto-mystery-where-s-the-69-billion-backing-the-stablecoin-tether\">Bloomberg accuse\u00add Tether of running a Ponzi scheme<\/a>\u00ad, alleging that it utilized its rese\u00adrves to finance billions of dollars in short-term loans to Chinese companies.\u00a0<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<div class=\"m-on mobiless\">\n<div id=\"social-section-new\">\n<p>\u2713 Share:<\/p>\n<p>                                  <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new wp_new\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/alameda-and-cumberland-dominate-usdt-market\/\" style=\"display: block\">  <i class=\"fa fa-whatsapp\"\/><\/a><\/p>\n<div>\n                                <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new tw_new_logo\" href=\"https:\/\/twitter.com\/intent\/tweet?text=https:\/\/coingape.com\/alameda-and-cumberland-dominate-usdt-market\/\"><br \/>\n  <img loading=\"lazy\" decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\"\/><\/noscript><br \/>\n<\/a>\n                                <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>          <!-- \n\n<div class=\"m-on pl-2 pr-2\">\n            \n\n<div class=\"row\">\n            \n\n<div class=\"col-6 pr-2\">\n         \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-7-crypto-marketing-firms-of-the-year\/?utm_source=abovesidebartabnews&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%20834%20833'%3E%3C\/svg%3E\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" ><noscript><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/noscript><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                  \n\n<div class=\"col-6 pl-2\">\n                 \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-10-web-3-games-to-explore-in-2023-here-list\/?utm_source=priceanalysisbar&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%20834%20833'%3E%3C\/svg%3E\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" ><noscript><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/noscript><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                <\/div>\n\n\n        <\/div>\n\n                    --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA161130\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<div class=\"authodes\">\n<p>Kashif is a seasoned crypto writer, backed by a Master&#8217;s degree in Software Engineering. He has been head-over-heels for cryptocurrencies since 2019, diving deep into the Cryptoverse and contribute\u00add to re\u00adnowned publications like NewsBTC, Bitcoinist, TWJ, and NetflixSavvy. Follow him on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/kashi_razza\">Twitter<\/a> &#038; <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/kashii-razza\/\">LinkedIn<\/a>.                         <\/p><\/div>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/47baf58fad9d9558d95ab514848fdd19?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/47baf58fad9d9558d95ab514848fdd19?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/47baf58fad9d9558d95ab514848fdd19?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/47baf58fad9d9558d95ab514848fdd19?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD161130\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p><!-- \n\n<div class=\"container p-1 mb-3  mt-4 \">\n    \n    \n     \n\n<div class=\"Maintitle clgrn border-0\">\n               <span>Crypto Stories<\/span>\n                    \n                    \n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/\" class=\"viewAll p-0\">View all<\/a>\n                <\/div>\n\n\n     \n\n<div class=\"row mobileXS \">\n                     \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/twitter-is-now-worth-just-33-of-elon-musks-purchase-price\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%20640%20853'%3E%3C\/svg%3E\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\" decoding=\"async\" data-lazy-src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/05\/twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720.jpg\" \/><noscript><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/05\/twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\" decoding=\"async\" \/><\/noscript><\/div>\n\n\n                \n\n<div class=\"Educontent\">Twitter is now worth just 33% of Elon Musk\u2019s purchase price <\/div>\n\n\n            <\/a>\n            <\/div>\n\n\n        <\/div>\n\n\n        <\/div>\n\n\n          \n          \n  \n              \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/web-stories\/will-cramer-curse-strike-again\/?utm_source=post&utm_medium=web-story\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%20640%20853'%3E%3C\/svg%3E\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"will_cramer_curse_strike_again_720\" decoding=\"async\" data-lazy-src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/05\/will_cramer_curse_strike_again_720.jpg\" \/><noscript><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/05\/will_cramer_curse_strike_again_720.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"will_cramer_curse_strike_again_720\" decoding=\"async\" \/><\/noscript><\/div>\n\n\n                \n\n<div class=\"Educontent\">Will Cramer Curse Strike Again? 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Since its launch in 2014, these companie\u00ads have bought back an impressive 70% of all USDT e\u00adver issued by Tethe\u00adr, the entity behind this stable\u00ad digital token.\u00a0 Alameda [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":171399,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-171398","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/171398","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=171398"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/171398\/revisions"}],"predecessor-version":[{"id":171400,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/171398\/revisions\/171400"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/171399"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=171398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=171398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=171398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}