Tether Launches USAT Stablecoin, Appoints White House Crypto Advisor, Invests $775M in Rumble
Tether, the company behind the world's largest stablecoin, USDT, is making waves in the crypto scene. It's launching a new U.S. dollar-backed stablecoin, USAT, and has appointed Bo Hines, a former White House crypto advisor, to lead the initiative. Tether's re-entry into the U.S. market is bolstered by a significant fidelity investments in Rumble, the video streaming platform with 51 million monthly active users.
USAT, Tether's new stablecoin, is designed to comply with the GENIUS Act, a regulatory framework for stablecoins. It aims to compete with other U.S. dollar-backed stablecoins in the market. Tether's choice of Bo Hines as CEO reflects its commitment to navigating the U.S. regulatory landscape. Hines previously served as the Executive Director of the White House Crypto Council.
Tether's investment calculator in Rumble is strategic. With 51 million monthly active users, Rumble provides a vast platform to promote USAT stablecoin adoption. The $775 million investment secures Tether a 48% stake in the video streaming service.
Tether's USAT stablecoin launch, backed by its fidelity investments in Rumble and led by Bo Hines, signals a significant push into the U.S. market. With USAT designed to comply with the GENIUS Act, Tether is well-positioned to expand its presence in the U.S., potentially reshaping the stablecoin landscape.
Read also:
- User Data Analysis on Epic Games Store
- Rachel Reeves conducts a discussion with Scott Bessent and financial executives, focusing on investment matters
- Hyundai accelerates production plans: Introducing 7 new N models, aiming for a sales figure of 100,000 units by 2030.
- Yasa, an electric car engine producer, plans to broaden its operations.
