Amazing Crypto

Category: Stablecoins

  • Zuckbucks” encounters resistance due to Facebook’s damaged reputation, Libra may precipitate unfavorable legislation

    Facebook’s Calibra CEO David Marcus took another beating, this time from members of the House, with one lawmaker even scorning the proposed Libra cryptocurrency as “Zuckbucks.” Marcus went before members of the House Financial Service Committee to explain the social media platform’s ambitious proposal to enter the crypto space. During the hearing, which spanned more than…

  • Tether accidentally issues $5bn worth of USDT, claims it was an issue with decimals

    Tether, the issuer of the USDT accidentally issued $5 billion worth of its own stablecoin while Poloniex was conducting a USDT chain swap from Omni to Tron. The CTO of Bitfinex and Tether said there had been an issue with the “token decimals,” after which the company burned the entire 5 billion supply. Tether makes…

  • NY attorney general reaffirms jurisdiction over iFinex, Bitfinex and Tether continued operations in New York until 2019

    Recently released court filings from the New York Attorney General’s Office (NYAG) showed that Bitfinex and Tether both operated in New York from 2017 to early 2019, despite claiming they had ceased all operations in the state. As such, the NYAG likely has jurisdiction over iFinex allowing proceedings to continue. Latest court filings accuse iFinex…

  • Competing Stablecoins Can’t Topple Tether

    Competing Stablecoins Can’t Topple Tether

    Love, hate or fear it, there’s no avoiding tether (USDT). Its shadow looms over the cryptoconomy, supplying sanctuary in times of volatility, providing fiat capital inflow and acting as a lightning rod for crypto critics who believe it’s propping up the price of bitcoin. Over the past year, a flurry of new stablecoins have entered…

  • Tether slowly migrating from the Bitcoin to Ethereum blockchain

    Tether’s USDT is steadily migrating from Bitcoin Omni-based addresses to Ethereum-based ones, with 40 percent of USDT now using the ERC-20 standard. Major cryptocurrency exchanges Binance and Poloniex announced they were both moving their Tether addresses from Omni. Tether addresses switching from Omni to ERC-20 While Bitcoin dominance over the cryptocurrency market is undisputed, Bitcoin-based protocols…

  • Binance DEX welcomes its first stablecoin—StableUSD

    Seattle-based Stably had its flagship StableUSD listed on Binance DEX as a native BEP2 crypto-asset—USDSB. The addition opens up opportunities for on-chain trading on the DEX, providing traders with an additional tool for hedging against volatility or redeeming their crypto for fiat. A stablecoin on Binance DEX also opens up a host of algorithmic and…

  • What the technical details behind Libra reveal about Facebook’s plans

    John deVadoss—development lead for NEO based in Seattle, former general manager at Microsoft, and a computer scientist with a focus in machine learning and neural networks—shared his insights from analyzing and testing Facebook’s Libra. What is the intent behind Libra? “Facebook is trying to build a global bank and is attempting to create a world…

  • Carbon is the first fiat-backed stablecoin to launch on TRON

    TRON partnered with Carbon, a New York City-based startup, to launch the first fiat-backed stablecoin on the network. TRON announced that Carbon’s “TRXD” would be the first stablecoin to launch on the TRON blockchain. Each TRXD is FDIC-insured and backed one-to-one by U.S. dollars. The move is meant to reduce the friction for payments for…

  • Experts are concerned Libra could people’s privacy and security at risk

    One of the most concerning things to come from Facebook’s cryptocurrency reveal is the number of traditional finance players who are supporting it. These are many of the same people who shunned Bitcoin, and other cryptos, and still shun them. In light of the hype surrounding Facebook’s new “Libra” cryptocurrency, it’s important to pause and…

  • Coin Center director: Libra’s path towards permissionless is flawed, unlikely to become decentralized

    Coin Center director: Libra’s path towards permissionless is flawed, unlikely to become decentralized

    Facebook finally revealed details about its highly-anticipated cryptocurrency, Libra. And while the company said it plans on transitioning to a permissionless network over the next five years, questions have been raised about Facebook’s ability to create a truly decentralized system. Libra is a centralized-decentralized cryptocurrency With decentralization as the key purpose of blockchain technology, many…