Tether Calls Explosive Research about Bitcoin Manipulation “Flawed Paper”

Tether Calls Explosive Research about Bitcoin Manipulation “Flawed Paper”

The stablecoin Tether (USDT) has been in the news pretty much since Bitcoin(BTC)trade skyrocketed to its all-time high of $20K at the end of 2017. Several controversies and lawsuits have been hovering around Tether, alleging it manipulatively pushed the Bitcoin’s price to astronomical heights. Several researchers have even published a thorough hypotheses about it. University of Texas’s Professor John Griffin and Ohio State University’s Amin Shams have published a paper that claims Tether was responsible…

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Research: One Buyer on Bitfinex Manipulated Bitcoin’s Price in 2017

Research: One Buyer on Bitfinex Manipulated Bitcoin’s Price in 2017

Bitcoin(BTC)trade touched its all-time high of nearly $20,000 in December 2017, and now researchers at the University of Texas and Ohio State University believe that this rally was fueled by a single big money movement in a new research paper. The academic paper also alleges that the USD-backed stablecoin Tether (USDT) is responsible for the astronomical rise in the BTC price in 2017, allegation which has already been raised previously and that is investigated by…

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Tether Surpasses Bitcoin and Ethereum in 24h Volume with Large USDT Transactions

Tether Surpasses Bitcoin and Ethereum in 24h Volume with Large USDT Transactions

Current crypto market sentiments and Tether transaction volumes at various crypto payment processors suggest that Tether (USDT) is becoming one of the most traded digital assets in the crypto market, leaving Ethereum (ETH)trade behind in the third place and even Bitcoin(BTC)trade in the second place (!) in 24 hour volume. Blockchain records show that crypto exchanges such as Binance and Bitfinex have accumulated a large volume of USDT from unknown wallets. The big Tether whales,…

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Crypto Irony? Bitfinex Claims It Is “the Victim of a Fraud” by Crypto Capital

Crypto Irony? Bitfinex Claims It Is “the Victim of a Fraud” by Crypto Capital

In an effort to set the records straight, the controversial crypto exchange Bitfinex released a statement on Friday, attempting to disengage itself from the Crypto Capital money laundering saga. The Hong Kong-based cryptocurrency firm made it crystal clear that it is, in fact, a victim of the money laundering case. This is in contrast to what the public thought earlier (and some might still believe). Backtrack a little to last week, the police scored yet…

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What Troubles? Tether Keeps Growing; Especially in Adult, Gambling, Cannabis Sites

What Troubles? Tether Keeps Growing; Especially in Adult, Gambling, Cannabis Sites

The USD-backed stablecoin firm Tether (USDT) has been involved in controversies since last July when it was first alleged for manipulating the price of Bitcoin(BTC)trade, which later culminated into investigations and lawsuits against the company. Despite all of these severe legal issues, Tether has reported a significant growth in its utilization as a digital payment mode for goods and services. In fact, Tether is now becoming more and more popular on gambling sites and pot…

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Class Action Lawsuit against Tether and Bitfinex: Manipulated the Crypto Market

Class Action Lawsuit against Tether and Bitfinex: Manipulated the Crypto Market

The multi-million dollar firm behind the controversial stablecoin known as Tether (USDT) is back in the news again. This time Tether Limited is being accused of being a part of a “fraud,” “pump-and-dump,” and “money laundering” scheme in a new lawsuit. Like a crashing rocket, the crypto community was dealt a big blow earlier in the week when news surfaced of an ongoing class action lawsuit, which claims that the renowned crypto firm (alongside its…

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Tether Announces its New Stablecoin to Support Chinese Yuan

Tether Announces its New Stablecoin to Support Chinese Yuan

The popular stablecoin issuer, Tether (USDT), has announced that it plans on launching a new stablecoin, CNH₮, backed by the offshore Chinese yuan. CNH₮ will run on top of the Ethereum blockchain as an ERC-20 token. In a blog post, Tether stated that CNH₮ represents a further expansion of the organization’s ability to embrace and facilitate the use of traditional currencies such as the USD and the Euro. The ERC-20 token will initially be available…

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New York Supreme Court Rules the Attorney General has Jurisdiction over Bitfinex

New York Supreme Court Rules the Attorney General has Jurisdiction over Bitfinex

iFinex (the parent company of Bitfinex and Tether) filed a motion in July to dismiss the lawsuit against the company as the New York Attorney General (NYAG) Letitia James doesn’t have jurisdiction over them in this case. On August 19, the Supreme Court dismissed the motion and ruled that the NYAG has jurisdiction over the cryptocurrency exchange Bitfinex. The Supreme Court Judge Joel M. Cohen ordered the NYAG to continue her investigation of the company…

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Solely 318 Addresses Hold Almost All of Tether’s Cryptocurrency Circulation

Solely 318 Addresses Hold Almost All of Tether’s Cryptocurrency Circulation

According to a report by the cryptocurrency research firm Coin Metrics and reported by Bloomberg, the large Bitcoin whales including crypto exchanges such as the Malta-based Binance and Hong Kong-based Bitfinex, own almost a fifth of the largest cryptocurrency, Tether (USDT). The report also showed only 318 addresses own almost $1 million worth (almost 80%) of all Tether digital coins, the token that serves as a channel for trading in many of the world’s largest…

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Judge Locks Tether Funds from Cryptocurrency Exchange Bitfinex as NY Lawsuit Advances

Judge Locks Tether Funds from Cryptocurrency Exchange Bitfinex as NY Lawsuit Advances

The cryptocurrency exchange owned and operated by iFinex Inc, Bitfinex, is still blocked from all monetary transactions with regard to its Tether (USDT) stablecoin reserves due to the ongoing lawsuit led by New York Attorney General. Letita James, the state’s top prosecutor, has accused both the cryptocurrency exchange Bitfinex as well as the stablecoin Tether for violating New York’s law through activities that have allegedly swindled many crypto investors in the State. The Attorney General…

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