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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Tether Further Expands into Algorand POS Blockchain Network

Tether Further Expands into Algorand POS Blockchain Network

Despite extending its tech prowess to TRON, Omni, EOS, and the Ethereum blockchains, Tether (USDT) is now set to launch in Algorand, reaching a total of 5 blockchain networks. This expansion, according to a post released by Tether, is totally plausible as it advances partnerships and cooperation within the developing digital asset community. The post highlights that Tether believes that Algorand is unquestionably qualified for the job as the two crypto entities share a similar…

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Report: More than 50% of Stablecoin Trading Worldwide Comes from China

Report: More than 50% of Stablecoin Trading Worldwide Comes from China

According to a report by Diar, Chinese stablecoin trading and volume account for more than half of the cryptocurrency transactions worldwide. The report comes as a surprise because of a previous report which claimed that some of the western countries were way ahead at least in terms of Bitcoin exchange transaction volume. However, the latest data shows that China dominates the global crypto trading trends. So far this year, the Chinese crypto market has seen…

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USDT+BTC=? Bitfinex to Deploy Tether on Bitcoin’s Lightning Network

USDT+BTC=? Bitfinex to Deploy Tether on Bitcoin’s Lightning Network

Bitfinex, one of the most popular crypto exchanges, has recently announced that it will launch its stablecoin Tether (USDT) on Bitcoin’s blockchain, the Lightning Network – a layer-two micropayments protocol that enables instant, low-cost Bitcoin transactions. Stablecoins are currently trending strong, and Bitfinex wants no stone unturned in order to bring USDT to more blockchains. Previously, the company announced that it will launch its stablecoin on EOS’s blockchain. Currently, Tether is issued on the Omni…

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WTF? Craig Wright Says Binance and Tether Fund Prostitution & Slavery!

WTF? Craig Wright Says Binance and Tether Fund Prostitution & Slavery!

Craig Wright is at it again, making the headlines once more just after the false claim that the US Copyright Office acknowledged him as Satoshi Nakamoto. The self-proclaimed Bitcoin founder just added yet another accusation to his list of never-ending unprovable claims. The Australian computer scientist, who also doubles as the head of the forked Bitcoin SV took to the podium in the just concluded CoinGeek Conference in Toronto to make several improbable claims without…

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Featured: The Full Story of Bitfinex & Tether

Featured: The Full Story of Bitfinex & Tether

News of the Bitfinex and Tether scandal has been dominating crypto news in 2019, but what is the full story? If you’re struggling to answer this question, it probably has something to do with what Bitfinex is being accused of in court: lack of transparency. We’ll attempt to clear some of the confusion here and tell you who the companies are, and the timeline of events leading to the latest updates. iFinex, Bitfinex, and Tether…

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Report: Stablecoins Pegged to USD Set All-Time High Record for Trading Volume

Report: Stablecoins Pegged to USD Set All-Time High Record for Trading Volume

In its latest report published on May 21, cryptocurrency research firm Diar revealed that the market capitalization for USD stablecoins hit a all-time high. According to the report, stablecoins tied to the USD hit a market cap of $4.3 billion, surpassing all previous records according to Diar’s data. The report also reveals an uptick of nearly 130% in trading volume between April and May. The trading volume hit $3.6 billion in May as compared to…

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