Tag: tether

Stablecoins Explained in Simple Terms

  • Stablecoins aim to solve the problem of extreme crypto market volatility by pegging digital assets to more stable assets.
  • All of the different types of stablecoins aim for stability, but they achieve it in very different ways.

Bitfinex and Tether Accused of Crypto Market Manipulation

  • The complaint document claims that the two firms' market manipulation caused economic damages equal to more than a trillion dollars.
  • Days before the accusations were made Bitfinex released a statement, saying that it was expecting such a lawsuit.

Huobi’s Stablecoin Sees a Successful Launch and 30 Million USD in Trading Volume

  • Starting today, HUSD is a separate token, rather than a virtual encapsulation of stablecoins on Huobi.
  • The trading volume of the token is already impressive, and likely to grow as Huobi has introduced 0-fee trading for it.

Circle and Coinbase Form a Consortium to Promote USDC

  • Centre's main goal is to develop and support the USD Coin infrastructure, community and adoption.
  • Circle and Coinbase are looking for new members in their consortium.

Tether Announces USDT on the EOS Blockchain

  • Tether is going to issue USDT tokens on the EOS blockchain.
  • Thanks to the high-speed nature of EOS, this new version of the stablecoin could become the most convenient one for traders.

Bitfinex Publishes Official LEO Token Whitepaper

  • A maximum sell cap of 1 billion USDT in LEO Tokens can be sold in the private trade.
  • LEO tokens will be used for obtaining discounts on trading fees when exchanging between cryptocurrencies on Bitfinex, EthFinex and EOSFinex.

Sale of $1 Billion Bitfinex Tokens Announced via Curious Document

  • Dovey Wan, founding partner of Primitive Ventures, reported that Bitfinex are planning to sell $1 billion worth of LEO tokens via an IEO.
  • LEO tokens are intended to be a temporary measure and to be bought back by the company.

Bitfinex Allegedly Used Tether Funds to Cover $850 Million Loss

  • According to the press release, New York Attorney General Letitia James and her office obtained a court order against iFinex Inc, the operator of Bitfinex, Tether Limited, and their associated entities.
  • Executives of the exchange then allegedly engaged in a series of conflicting corporate transactions with Tether, in which Bitfinex got access to up to $900 million of Tether's cash reserves.

Tether May Not Be 100% Backed by Fiat as Suggested by its New Terms

  • The company has faced various publicity hurdles over the question if it has sufficient fiat reserves to back its stablecoin, due to the fact the firm has never provided a full independent audit of its fiat collateral.
  • Bloomberg News had also previously reported they have seen Tether bank statement last December, which showed that over four separate months the company had sufficient funds to back their stablecoin.

Binance Adds New Zilliqa Trade Pairs, Price Continues Dropping

  • In a public announcement, the world's leading cryptocurrency exchange surprisingly added Zilliqa to the list of cryptos that can be directly traded with Tether (USDT).
  • Zilliqa's price has been dropping ever since the crypto's mainnet was launched successfully, partly due to lack of hype surrounding it and selloffs by swing traders who were hoping to sell at a profit during that event.