NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Apple App Store Removed Tether App Without Further Explanation

newsbtc
newsbtc
4 years ago
2 mins read
Tether App

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The past few weeks have been quite problematic for the Tether project. Pegging digital currencies to a fixed US Dollar rate has proven to be quite challenging. Things only get worse when your banking partners no longer process transactions. It now turns out the Apple App store removed the platform’s application briefly as well.

Tether Continues The Uphill Battle

Tether is starting to face a lot of major problems in quick succession. A few weeks ago, it became apparent the company’s Taiwanese bank accounts could no longer honor USD withdrawals. This is due to an ongoing Taiwanese banking reform. Until the matter is resolved, converting USDT to USD is subject to a high premium across cryptocurrency exchanges. Not an ideal situation for a currency pegged to the US Dollar.

To make matters even worse, Apple removed the company’s mobile app last night. The Tether app was no longer available all of a sudden. There was no explanation for what happened exactly, though. Luckily, it appears the app is back right now, which is somewhat positive news.  However, these developments may end up hurting the USDT value even further as time progresses.

It is safe to say there is a lot of uncertainty regarding Tether right now. Although the company has enough funds to convert USDT to USD, they can’t do so themselves. Unless they find a new banking partner, that is. Setting up a new relationship can take weeks, if not months, though. A lot of banks remain wary of cryptocurrency-related projects, even to this very day.  Considering there are 65 million USDT in circulation, the situation needs to be resolved sooner rather than later.

What Does the Future Hold For USDT?

This begs the question whether or not currencies such as USDT are even necessary. While it is true they provide some form of value, converting it back to fiat is problematic. This begs the question whether or not this intermediary step is even necessary. After all, users are currently losing money when converting USDT to USD again. Things are not looking great for Tether right now, and we can only hope the situation is rectified soon.

Luckily, Apple has restored the Tether app in the App Store for the time being. It remains unclear why it was removed, though. The decision does not appear to be linked to the ongoing financial issues the company is facing. Now that the app is back in the App Store, that is only less thing to worry about for the team. However, all of their other issues remain to be solved, creating a very uneasy situation.

Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Dogecoin price news

Dogecoin’s Quiet Setup Could Detonate Shorty, Says Analyst—Here’s The Target

Dogecoin was changing hands near $0.174 in European trading on Thursday, extending a two-day rebound that began when buyers twice...

Jake Simmons 5 hours ago
Bitcoin

The Silent Bitcoin Accumulation: Public Companies’ Surprising H1 2025 Lead

According to recent data, public companies have raced ahead of Bitcoin spot ETF issuers by snapping up more than twice...

Christian Encila 8 hours ago

Ethereum Stagna: I Dati On-Chain Mostrano Accumulo da Parte delle Whale

Ethereum continua a mostrare un movimento di prezzo limitato verso l’alto, nonostante i guadagni registrati la scorsa settimana. Negli ultimi...

clararosati 10 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin Needs $140K To Match Peak Profits, On-Chain Data Shows

Christian Encila 29 minutes ago
Ethereum Looks Strong Despite Volatility – $10,000 Price Target Gains Momentum

Ethereum Looks Strong Despite Volatility – $10,000 Price Target Gains Momentum

Sebastian Villafuerte 1 hour ago
Bitcoin

TD9 Setup On Bitcoin Price Chart Suggests It Could Take 4 Years To Reach $149,000 — Details

Scott Matherson 2 hours ago

Premium Sponsors

Press Releases

  • Top kryptoměna ke koupi dříve, než vzroste o 2 200 %, podle Cathie Wood

    Top kryptoměna ke koupi dříve, než vzroste o 2 200 %...

    16 minutes ago
  • The smartest way to make money in 2025: Invest in cloud...

    7 hours ago
  • Od Bitcoinu k BTC Bull: Kde leží skutečný potenciál?

    ...

    7 hours ago
  • Bitcoin vs. Gold: Which Is the Best Investment In 2025?

    7 hours ago
  • Profit of $5,735, senior trader uses Ripple (XRP) to open...

    7 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.