Stablecoin tether is apparently only backed 74% by cash reserves, and Elon Musk and Vitalik Buterin get friendly on Twitter. Top Stories This Week Fractional Reserve Stablecoin Tether Only 74% Backed by Fiat Currency, Say Lawyers According to documents released by USD stablecoin tether’s (USDT) lawyers, the company behind the stablecoin only has enough fiat […]
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The New York State Attorney General Letitia James has requested the release of documents concerning an alleged deal made between Bitfinex and Tether. The New York State Attorney General (NYAG) Letitia James has requested the disclosure of documents concerning an alleged deal made between cryptocurrency exchange Bitfinex and stablecoin operator Tether. The NYAG’s memorandum of […]
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Zhao Dong, a shareholder of cryptocurrency exchange Bitfinex, released new material concerning an upcoming initial exchange offering. Zhao Dong, a shareholder of cryptocurrency exchange Bitfinex, has released new promotional material detailing the exchange’s upcoming initial exchange offering (IEO) for up to $1 billion. The information was shared in a tweet from Dong on May 4. […]
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In a few hours, the price of bitcoin surged past $5,700 with a 5% gain, allowing the crypto market to add $7 billion overnight. Over several hours on May 3, the price of bitcoin spiked from around $5,300 to over $5,700 in major markets, allowing the crypto market to gain more than $7 billion in […]
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Zhao Dong has revealed details of the company’s reported plans to launch a $1 billion initial exchange offering (IEO) in the coming days. Crypto exchange Bitfinex shareholder Zhao Dong has revealed details of the company’s reported plans to issue a native exchange token, which he claims will launch via a $1 billion initial exchange offering […]
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Cryptocurrency automated teller machine provider CoinFlip has postponed listing USDT as the firm wants “full assurance that USDT is stable.” Cryptocurrency automated teller machine (ATMs) operator CoinFlip has postponed support for the stablecoin tether (USDT). The company announced the development in a tweet on May 1. CoinFlip initially revealed that it will start listing Tron-powered […]
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After yesterday’s positive market momentum, most of the top 20 cryptos are seeing mild green on the day at press time, seeing typical growth of between 1 and 7%. Wednesday, May 1 — after yesterday’s positive market momentum, most of the top twenty cryptocurrencies are seeing mild green on the day at press time, seeing […]
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The recent indictment of two individuals on multiple counts reveals an apparent connection to two crypto exchange scandals. The April 30 indictment of two individuals on multiple counts — including bank fraud and operating an unlicensed money transmitting business — reveals an apparent connection to the shadow banking services that were used in two recent […]
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Following controversy about fake volumes on CoinMarketCap, the service will require exchanges to provide mandatory API data. Crypto market cap tracker CoinMarketCap (CMC) will remove exchanges from its calculations if they fail to provide mandatory data by June, the firm wrote in its sixth anniversary blog post on May 1. CoinMarketCap, a major source of […]
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On-chain transaction volumes set a 14-month high in April, while Q2 2019 looks set to buck a longer downward trend. On-chain transactions on the bitcoin (BTC) network hit fresh highs not seen since 2017 in April, industry newsletter Diar noted on April 30, quoting blockchain data provider TokenAnalyst. Continuing a trend that had already started […]
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