Tether Retaliates Against FUD Concerning Stability of Stablecoin Reserves

Tether – the entity backing the world’s largest stablecoin – is once again firing back against those spreading doubt about its reserves. The company claimed that it holds no Chinese commercial paper, and will soon eliminate its commercial paper exposure altogether. Misinformation: Crypto’s Biggest Threat In an announcement on Wednesday, Tether stated that the crypto industry’s biggest current threat is the spreading of false information. The firm put it in the same league as hacks, scams, and cyberattacks, threatening the…

Bitcoin, Ether, And USDT Are Most Active in Ukraine As Cash Transactions Are Almost Dead

Ukraine is switching from fiat to crypto transactions as the Russian invasion gradually strangles the country's financial stability. While cash use declines and fiat availability drops, Ukrainians turn to BTC, Ether, and USDT to transfer assets. Furthermore, crypto donations are landing in their wallets from worldwide users as a sign of solidarity. The question is, how much will crypto influence Ukraine's resistance? Restrictions on Cash Use in Ukraine Soon after Russia invaded Ukraine, the latter’s president, Volodymyr Zelenskyy, instated the…

Strike Expands Crypto Wallet to Argentina, But It Only Holds Tether

After inspiring El Salvador’s government to adopt a Bitcoin standard, Strike is expanding its operations to another central American country. Yesterday, CEO Jack Mallers announced Strike’s launch in Argentina and were set to act as a cost-effective remittance service using Bitcoin. However, it would seem that in-wallet assets are stored in neither dollars nor BTC, using Tether instead. Strike’s Significance In Argentina Mallers revealed his company’s expansion in a tweet on Tuesday, alongside a thread explaining its significance. “Today, we…

Myanmar Pro-Democracy Opposition Adopts Tether As Official Currency

As crypto markets are tanking, traders get some welcomed good news - from an unlikely source. Myanmar's shadow government made Tether its official currency. The National Unity Government, which holds no real political power, stated that it accepts stablecoin Tether. Formed after former leader Aung San Suu Kyi's ousting in February, the group stands in opposition to the military junta. Former government officials that the Junta deposed and pro-democracy groups make up NUG. The shadow government holds no territory. However, they…

Bitcoin Tanks As Tether Faces Another Lawsuit

Major cryptos are in the red as major stablecoin Tether faces another lawsuit. The Crypto Fear and Greed Index, a measure of crypto sentiment, says it all. After the same opinion dominated last week, market sentiment is at "Extreme Fear" again. Over the last 24 hours, Bitcoin fell below $46,000. It since settled at $47,000. Ethereum, the second-largest crypto, fell to $3,806. Furthermore, smaller coins such as BNB, Solana, Cardano and XRP are all red. Except Doge, which rose after…

Top Stablecoins to Watch in 2022

Stablecoins are virtual currencies that help minimize crypto market volatility. These crypto-assets are often pegged to the value of fiat money, exchange-traded commodities like gold and silver, or cryptocurrency. These tokens operate on blockchain technology and offer investors more safety than other crypto assets. Over the years, stablecoins have increasingly brewed up a storm in the crypto space. For instance, most of them chose the US Dollar as the primary asset to peg their value and reach global acceptance. Nevertheless, not all stablecoins…

Hindenburg Offers a $1 Million Bounty To Find Tether’s Reserves

A forensic financial research firm – Hindenburg Research – has launched the Hindenburg Tether Bounty Program. The program offers a $1 million reward to anyone who can provide details related to Tether’s stablecoin backing. The firm’s initiative establishes a significant effort to solve a longstanding mystery looming over the entire cryptocurrency market. The Hindenburg Tether Bounty Program As revealed in a company blog post earlier today, Hindenburg’s program intends to provide public clarity on Tether’s operations. Users who submit information…

Which Altcoins Made The News in H1 of 2021

Altcoins are constantly jostling to make a mark in the crypto world. After Bitcoin and Ethereum, the race to be the third cryptocurrency force keeps heating up every year. Many strong contenders with different use cases promise more than what the big two currently offer. As a result, many are making their mark in a big way, for good and not so good reasons, as long as they stand out from meme coins that ride the celebrity popularity wave and…

Tether Fined By Regulators For Lying About Fiat Reserves

Tether was hit with more legal repercussions amid rising concerns about its fiat currency backing. The stablecoin issuer is set to pay $41 million as settlement for allegations that it lied about its reserves. In the same case, Bitfinex received an accompanying charge. The CFTC Strikes against Tether and Bitfinex The news dropped this Friday when the Commodity and Futures Trading Commission (CFTC) issued a press release on the matter. Earlier in the day, the agency settled charges against Tether,…

1 2 3 4