Coinbase Pro Accepts USDT

  • Coinbase Pro will accept USDT from Monday
  • The controversial stablecoin will be available in most jurisdictions, except New York State
  • Coinbase said that Tether only “claims to hold reserves that fully back each USDT”

Coinbase Pro users will soon be able to deposit and trade USDT in a boost to the reputation of the much-criticized stablecoin. The exchange, which is making headlines due to the poor performance of its COIN listing on the Nasdaq, made the announcement on Thursday, with trading to start on Monday. The listing of USDT shows that Coinbase for one is no longer concerned by the regulatory issues surrounding USDT issuer Tether, who in February settled with the Office of the Attorney General (OAG) to end the case against itself and owner iFinex.

Coinbase: Tether “Claims” to Back Each Token

In its announcement, Coinbase stated that support for USDT would “generally be available in Coinbase’s supported jurisdictions, with the exception of New York State”. The exclusion of New York is the result of the condition of the OAG ruling which banned Bitfinex and Tether from operating in the state. Trading will start on Monday, Coinbase added, when there is enough liquidity with USDT pairs to do so.

Tether’s market cap stands at $30 billion, and Coinbase added that “the company behind the (Tether) protocol is responsible for holding reserves that fully back each token” and that “Tether Limited…claims to hold reserves that fully back each USDT.” Of course, Tether has famously still not adequately proved the backing of all these 30 billion USDT tokens, although this should be clarified in the next few weeks as Tether produces its first transparency report for the AOG.

ERC-20 Version Only

Annoyingly for supporters of cheap and fast transactions, USDT into Coinbase Pro will only run on the Ethereum network, which is particularly frustrating as there are now multiple Tether networks to choose from which don’t need you to mortgage your house in order to push it through.

Originally published at on April 24, 2021.




Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Swarm — storing data for the world computer

What do you think is next for Ethereum after 100% gain in January?

🔎AMA Recap Royal Crypto Boosters & Cheqd

MyWish Weekly Report 29/04/2022

DAR Crypto Weekly — 3/20/20

$TEL Us Which Exchanges

What is Bitcoin Mining ?

Suberra Protocol secures $1M funding in a pre-seed round to build next-gen Crypto payment…

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store


More from Medium

The way crypto changed the world!

The Intelligent Crypto Thesis

Amazy is the New Rising Star in the Crypto World.

The downslope of the financial industry