Category: Stablecoins
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Tether conducted for a 300M USDT chain swap from Omni to Ethereum
In an early-morning tweet on Oct. 29th, Tether announced that it would be performing a 300 million USDT chain swap. The conversion from the Omni protocol to ERC20 tokens will be conducted with a third-party that remains anonymous. A chain swap is a process in which a certain entity moves a given cryptocurrency from one…
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Congress grills Zuckerberg on everything from Libra to hate speech on Facebook
Mark Zuckerberg, the founder and CEO of Facebook, has testified before the U.S. House Financial Services Committee, where Congress members have raised their concerns about the company’s past and future dealings. Zuckerberg says stifling innovation could give an upper hand to China Libra has been one of the most controversial technology projects in the past…
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FATF Starts Checking How Well Countries Implement Crypto Standards
The Financial Action Task Force (FATF) has agreed on how it will assess whether countries have taken the necessary steps to implement the crypto-related requirements. “Given the global nature of the virtual asset industry, it is essential that countries implement these requirements swiftly,” the FATF emphasized. Also read: Where US Regulators Stand on Cryptocurrency FATF…
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Indian Finance Minister Answers Crypto Questions at IMF Meeting
At an IMF and World Bank meeting, Indian Finance Minister Nirmala Sitharaman talked about cryptocurrency and stablecoins when asked about Facebook’s Libra digital currency project. RBI Governor Shaktikanta Das also addressed the subject at the conference. Also read: Indian Supreme Court Postpones Crypto Case to November, New Date Confirmed Finance Minister Talks Crypto At the…
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Turkish Delight as Huobi Adds TRY-USDT Fiat Gateway
Huobi has pledged its commitment to the Turkish crypto community in a big way, announcing a slew of initiatives at last week’s Eurasia Blockchain Summit. The introduction of Turkish Lira (TRY) deposits for users of its global exchange was the main talking point, but a number of ancillary announcements further demonstrated Huobi’s support for bolstering…
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Tether becomes 4th largest crypto, demonstrating intensity of market blood bath
On Sept. 25, the crypto market experienced one of its steepest falls in recent years as the bitcoin price abruptly dropped by more than $1,500 in merely hours, sending many cryptocurrency investors to Tether. Tether, a stablecoin said to be run by iFinex, the parent company of a major cryptocurrency exchange in Bitfinex, has often…