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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Report: Centralized Crypto Exchanges Enjoyed 85% Volume Surge in April

Report: Centralized Crypto Exchanges Enjoyed 85% Volume Surge in April

CryptoCompare, a leading cryptocurrency data analysis company, has released its Exchange Review for April 2019, highlighting some positive changes in the crypto exchange industry. The report demonstrates that monthly volumes increased by 85% with South Korean exchange, Bithumb, being the top exchange at USD 17bn. Other popular cryptocurrency exchanges such as Bitfinex, Upbit, Coinbase, Kraken, Bitstamp, and Coinsplit also experienced a surge in volumes last month. Bitfinex came third in line at USD 6.7bn despite…

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Embattled Crypto Exchange Bitfinex Unravels its New Billion Dollar Token LEO

Embattled Crypto Exchange Bitfinex Unravels its New Billion Dollar Token LEO

With exceeding joy for completing yet another milestone (and diverting some attention from its recent $850M cover-up controversy), the Hong Kong-based crypto exchange, Bitfinex, took to its blog section on Friday to announce the listing of a new token on the platform. The token, termed UNUS SED LEO, was launched on May 20 on the Bitfinex platform to help create a better customer experience for its users. While it may be just a token launch…

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Unearthed Bitfinex’s Document Details $1 Billon Token Sale Dubbed “LEO”

Unearthed Bitfinex’s Document Details $1 Billon Token Sale Dubbed “LEO”

iFinex, the parent company to Tether and the controversial cryptocurrency exchange Bitfinex, is planning an initial exchange offering (IEO) with the aim to raise $1 billion. Bitfinex has come under scrutiny recently after it was revealed the FBI is conducting an investigation into an $850 million cover-up. Bitfinex has also been criticized for its lack of clarity over how Tether is backed. Bitfinex once claimed that Tether was backed 1:1 by the US dollar, but…

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Fablecoin: Tether Finally Fully Discloses that USDT Is Only 74% Backed by USD

Fablecoin: Tether Finally Fully Discloses that USDT Is Only 74% Backed by USD

Tether (USDT) is only 74% backed by cash and securities as stated in the affidavit filed with the Supreme Court of the State of New York by Stuart Hoegner, the general counsel to Tether and major bitcoin exchange Bitfinex. On April 25, New York Attorney General Letitia James accused that the companies behind the USD pegged stablecoin Tether and cryptocurrency exchange Bitfinex engaged in efforts to cover up a loss of $850 million of client…

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