Category: Tether

Russian crypto exchange Livecoin is shutting down after a claimed attack that caused a $3.3 million loss to users

Russian crypto exchange Livecoin is shutting down after a claimed attack that caused a $3.3 million loss to users

Russian cryptocurrency exchange Livecoin has announced that it is shutting down after witnessing a “carefully planned attack” last month. “Our service has been damaged hard in technical and financial way,” said Livecoin on Saturday. “There is no way to continue operative business in these conditions, so we take a hard decision to close the business […]

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Today in Crypto: Kraken Delists XRP, BlackRock Sells Major Stake in Chinese Telecom & More

The crypto world saw many ups and downs throughout the past week as Bitcoin price volatility saw a couple of major dips as well as recovery post the infamous Monday market crash of nearly $10k.  The top cryptocurrency is currently trying to consolidate its position above $37,000. Other major headlines of the day include, Kraken […]

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Deltecbank Reveals Huge Position in Bitcoin, Why Tether Might be in Trouble Again?

Deltecbank, a Tether banking partner recently revealed that they own a position in Bitcoin which under normal circumstances would be bullish news, however, given NYAG lawsuit against Tether and Bitfinex for manipulation of funds and Tether being a stablecoin issuer makes it quite a tricky situation and not a good one for Tether. Deltecbank’s chief […]

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Deltec, the bank for stablecoin issuer Tether, bought ‘large position’ in Bitcoin for clients

Deltec, the bank for stablecoin issuer Tether, bought ‘large position’ in Bitcoin for clients

Deltec, the Bahamas-based bank that holds the reserves for stablecoin giant Tether, holds a “large position in bitcoin” according to its chief investment officer. CIO Hugo Rogers disclosed the investment during a year-in-review video published on January 14. Specifically, the comments about the bitcoin position were in the context of a question about Deltec’s “high […]

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Bitfinex Executives Deny Allegations of Issuing USDT to Pump BTC –  “Tether Backed by Cash Assets and a Loan”

Bitfinex Executives Deny Allegations of Issuing USDT to Pump BTC – “Tether Backed by Cash Assets and a Loan”

Bitfinex general counsel Stuart Hoegner has dismissed the notion that only 74% of the tether stablecoin in circulation is fully backed. Hoegner insists the stablecoin is fully backed by assets that include cash, cash equivalents as well as bitcoin. However, both Hoegner and the company’s CTO Paolo Ardoino, are pushing back against the narrative that […]

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Tether is launching on Hermez — an Ethereum Layer 2 scaling solution that uses ZK-Rollups

Tether is launching on Hermez — an Ethereum Layer 2 scaling solution that uses ZK-Rollups

Stablecoin Tether (USDT) is launching on Hermez Network — an Ethereum Layer 2 scaling solution that uses ZK-Rollups. Sharing the news with The Block on Monday, Hermez said USDT will go live on the network when its mainnet launches in the coming weeks. Hermez is targeting mid-February for the launch, technical lead Jordi Baylina told […]

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9 Trillion vs. 100 Trillion: Billionaire Mike Novogratz Asks Which Cryptocurrency Will Win the Payments Race

9 Trillion vs. 100 Trillion: Billionaire Mike Novogratz Asks Which Cryptocurrency Will Win the Payments Race

On December 31, billionaire investor Mike Novogratz asked his Twitter followers which blockchain coin has the best chance of winning the payments race and offered four choices. Novogratz said there are lots of “contenders” and listed off Facebook’s diem, tether, bitcoin cash, and Circle’s popular stablecoin. This week Mike Novogratz asked his Twitter followers out […]

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Bitfinex CTO: Tether Is Registered and Regulated Under FinCEN- USDT Not Next Target of the US SEC

Bitfinex CTO: Tether Is Registered and Regulated Under FinCEN- USDT Not Next Target of the US SEC

The CTO at Bitfinex Paolo Ardoino has pushed back against rumours that the company’s Tether stablecoin may be the next target of the U.S. Securities and Exchange Commission (SEC). The Bitfinex executive insists that the Tether stablecoin, whose market capitalization has now surpassed $20 billion, is a properly registered and regulated crypto. The Alleged Misinformation […]

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Stablecoin on-chain volumes have crossed the $1 trillion mark this year

Stablecoin on-chain volumes have crossed the $1 trillion mark this year

Stablecoin on-chain volumes have crossed the $1 trillion mark in 2020, according to The Block Research. On-chain volumes are any transactions that occur on blockchains. For stablecoin transactions, Ethereum remains the most popular blockchain, having about 83.5% share. TRON and Omni blockchains follow next, with about 14.5% and 2.1% share, respectively. As for popular stablecoins, […]

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