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

Posted on August 21, 2019August 21, 2019 by Rehan Yousaf

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…

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

Posted on August 9, 2019August 9, 2019 by Rehan Yousaf

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…

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

Posted on July 30, 2019July 30, 2019 by Rehan Yousaf

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…

Tether Further Expands into Algorand POS Blockchain Network

Posted on July 18, 2019July 18, 2019 by Julie Williams

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…

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

Posted on June 6, 2019June 6, 2019 by Rehan Yousaf

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…

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

Posted on June 4, 2019June 4, 2019 by Carolyne Walker

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…

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

Posted on June 3, 2019August 8, 2019 by Julie Williams

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…

Featured: The Full Story of Bitfinex & Tether

Posted on May 29, 2019June 4, 2019 by Jodie Lauren Smith

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…

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

Posted on May 24, 2019May 24, 2019 by Rehan Yousaf

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…

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

Posted on May 21, 2019May 21, 2019 by Jodie Lauren Smith

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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