Category: Tether
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Lagarde Sees Demand for Stablecoins, Plans to Put ECB ‘Ahead of the Curve’
At her first press conference as head of the European Central Bank (ECB), Christine Lagarde outlined her plans to lead the ECB “ahead of the curve” in the field of digital currency. “There is clearly a demand out there that we have to respond to,” she said, referring to stablecoins. Also read: Regulatory Roundup –…
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Venture Capitalists Have Invested Over $200M in Stablecoins
Does the world need more stablecoins? Yes according to VCs, who have thrown hundreds of millions of dollars at projects developing stable or low volatility digital assets. The $45 million committed in 2019 takes the past two years of VC investment to over $200M. Also read: RBI Governor Discusses Crypto and Central Bank Digital Currency…
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Critics Savage Research Paper Alleging Lone Whale Caused Bitcoin’s 2017 Rally
Crypto commenters have torn into a new research paper alleging a single whale caused bitcoin’s 2017 price rally. The paper, reported prominently in Bloomberg and the Wall Street Journal, has been criticized for failing to understand that mass inflows of tether (USDT) to the cryptoconomy are not indicative of a single source accounting for all…
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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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Market Update: Crypto Prices Hold Steady After Massive Bullish Spike
Digital currency markets are coasting along after an enormous move on Friday of more than 20-40%. The entire cryptoconomy is hovering around $249 billion as it gained a whopping $30 billion very quickly this week. Crypto prices corrected a touch since the spike, but are still well above the lows seen just a few days…
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104 Addresses Hold 70% of Tether, Research Reveals
The ownership of tether (USDT) turns out to be quite concentrated. According to a recent report, a few addresses control the bulk of the stablecoin, which is widely used by bitcoin traders. The finding comes on top of fresh accusations of creating a bubble levied in a lawsuit against tether’s operators. That adds to the…
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Tether Created ‘Largest Bubble in Human History’ Claims Lawsuit Against Bitfinex
A common attack against Tether in the crypto ecosystem is that the stablecoin isn’t really backed one-to-one by the U.S. dollar. We might soon get to know if these concerns are substantial, as the matter is now going to court. A new lawsuit against the operators of USDT accuses them of creating the largest bubble…