Posts in category

Tether


Bill Barhydt is the founder and CEO of Abra, a global crypto wallet and exchange network. There are plenty of misconceptions surrounding stablecoins. One of the main things that I hear frequently is that they will somehow bring the volatility of current crypto markets to heel. Maybe this is implied by the name, or maybe …

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The latest attempt to create a cryptocurrency pegged to the U.S. dollar, or “stablecoin,” combines 21st-century technology with an invention from the Great Depression. Announced Tuesday, a startup called Stronghold is launching USD Anchor, which will run on the rails of the Stellar blockchain and use its consensus mechanism to verify transactions. The token will be backed …

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Tether, the company behind the controversial, dollar-tied “stablecoin” known as USDT, has hired a chief compliance officer from the eighth-largest bank in North America. Leonard Real is a former anti-money laundering (AML) analyst for the Bank of Montreal, where he worked for four years in three different positions. The hiring announcement comes less than a month …

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As they say, shots were fired. An investigative article raising concerns about possible market manipulation of tether has sparked a social media firestorm, with the dollar-pegged cryptocurrency’s detractors, supporters and seemingly everyone in between weighing in. In an incendiary take on an already controversial topic, Bloomberg analyzed tether trading data from the Kraken crypto exchange …

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Reports that the code for Tether’s dollar-pegged cryptocurrency USDT may contain an error that can be exploited to allow double spending appear to be false. According the latest statements from both blockchain security firm Slow Mist and Tether, the issue is actually down to an exchange integration flaw. On Thursday, Slow Mist claimed in a WeChat post …

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Phil Potter, chief strategy officer for cryptocurrency exchange Bitfinex, has reportedly left the company. Reuters reported Friday that Potter, who is also a director of the ‘stablecoin’ issuing company Tether, will be temporarily replaced by Jan Ludovicus van der Velde, Bitfinex’s CEO. A spokesperson told the news service that the parting was “mutual” in nature. …

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Too good to be true? That’s what some are wondering after Tether, the makers of the dollar-pegged crypto asset, USDT, made an announcement Wednesday insisting that its tokens – valued at $2.6 billion – are fully-backed by real cash (according to one law firm, at least). For months, Tether has fought accusations that it is …

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Nearly six months after parting ways with its auditor, Tether has finally produced a third-party report proclaiming that its cryptocurrency is fully backed by U.S. dollars – with some big caveats. The state of Tether’s reserves has been the subject of controversy for months, with online critics claiming the company has been issuing more tokens …

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The U.S. dollar-pegged tether has been used to support bitcoin’s price during market downturns, a new study published by University of Texas at Austin professors. John Griffin and Amin Shams, of the University of Texas at Austin’s Department of Finance, published a study Wednesday linking the stablecoin with bitcoin’s prices during the 2017 price increases. …

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The top U.S. futures regulator has denied a Freedom of Information Act (FOIA) request related to cryptocurrency exchange Bitfinex and the closely-linked ‘stablecoin’ operator Tether, according to records obtained by CoinDesk. The FOIA request, sent in late February, sought “subpoenas issued to iFinex inc. also known as Bitfinex and it’s subsidiary companies, as well as subpoenas …

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Tether, the altcoin backed by fiat currencies USD and EUR, has issued another 300 mln USDT tokens priced at $1 per token on Tuesday March 20, according to data from Omni Explorer. In mid-February, Tether had released 86 mln in euro-backed EURT and 61.1 mln in US dollar-based USDT on the Ethereum (ETH) Blockchain. Bitfinex’ed, …

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Tanzeel Akhtar is an independent British journalist whose work has been published in the Wall Street Journal, CNBC, FT Alphaville, Investing.com, Forbes, Euromoney and Citywire. Often, when a cryptocurrency tanks, holders of a rival coin will tease them with “SFYL” – sorry for your loss. But the entire industry needs to keep an eye on …

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ING Groep NV confirmed Tuesday that cryptocurrency exchange Bitfinex has an account with the Dutch bank. According to Bloomberg News and Reuters, a spokesperson for the financial services company acknowledged Bitfinex’s account but declined to share any other information, citing confidentiality. The reports made no mention of Tether, the affiliated company behind the USDT token …

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Tether has launched a fresh round of token creation, this month adding 86 mln euro-pegged EURT and 60.1mln dollar-pegged USDT to its issuance as Finance Magnates reports Feb. 15. Both tokens are issued on Ethereum, with two wallets currently showing the ongoing activity as Tether continues to face mixed press following volatility. Finance Magnates quoted …

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Cryptocurrency exchange Bitfinex and Tether, the company behind the controversial USDT token, have been subpoenaed by the U.S. Commodity Futures Trading Commission, according to a new report from Bloomberg. Citing an unnamed source, Bloomberg said that the CFTC had sent queries to both companies last week. The news comes days after CoinDesk reported that Tether’s relationship …

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Tether, the issuer of the dollar-pegged cryptocurrency USDT, said its relationship with audit firm Friedman LLP has ended. The statement, provided Saturday evening by a company spokesperson to CoinDesk, confirms the suspicions of online sleuths and is likely to raise new questions about the company’s finances. Friedman had been working on an audit of Tether, …

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Usually, no one bats an eye when a cryptocurrency’s price drops 30 percent over the course of a week. This is the Wild West, after all. But when it happened to DAI this month, heads turned, primarily because the token was designed specifically to hold its peg with the U.S. dollar. One of a growing number …

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Hard forks? Soft forks? ICOs? Bombarded by no shortage of unfamiliar technical terms in 2017, consumers in the blockchain sector once again proved a ripe target for hackers and criminals. But, not all hacks and scams were created equal. Some rose above the froth – either due to their size or impact – as well as …

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Tether, a Santa Monica-based startup that provides a dollar-pegged token, has said it plans to launch a new platform following a claimed security breach in November. In a notice on its website, Tether lists some of the steps taken to recover from the hack that is claimed to have stolen $30 million-worth of its tokens, …

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Bitfinex has hired the law firm of Steptoe & Johnson and is threatening legal action against a pseudonymous blogger and others who it says have made false claims about the bitcoin exchange. In a statement, Bitfinex said it hired Steptoe to respond to such claims with “appropriate action,” including “possible litigation” against “various parties.” Jason Weinstein, …

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