Category: Tether
-
Tether Destroys 500 Million of Its USDT Coin
According to transaction data from Tether’s accounts, it took 500 million USDT permanently out of circulation on Wednesday. Tether has just destroyed 500M USDt from the Tether treasury wallet with the following tx: https://t.co/HTG52LaRVh For more information see the announcement here: https://t.co/McLTCGzmJi — Tether (@Tether_to) October 24, 2018 https://platform.twitter.com/widgets.js Transfer and Burn The company first transferred…
-
Circle’s USDC Stablecoin Added to Coinbase
The global cryptocurrency exchange based out of San Francisco, Coinbase, has announced the firm will now support Circle’s USDC stablecoin on its exchange and brokerage service platforms. Coinbase believes that blockchain-based digital dollars like USDC provide many benefits to the cryptocurrency market ecosystem. Also read: Bitpay Announces Stablecoin Support for Merchant Settlement Coinbase and the USDC…
-
Who Is Winning The Stablecoin Race?
Before discussing specific stablecoin names, it is important to understand the three types of stablecoins that currently exist: centralized IOU stablecoins, crypto-collateralized stablecoins, and non-collateralized stablecoins. Centralized IOU stablecoins are backed with fiat money or precious metals, such as the U.S. Dollar or other sovereign currencies. Centralized IOU stablecoins have value because it is a representation…
-
Both Sides of the Tether Debate: is the Crypto Market Vulnerable to Implosion?
Traders, investors, analysts, and journalists in the crypto sector engaged in an intense debate about USD-backed stablecoin Tether (USDT) this week, pondering on the legitimacy and regulatory state of the asset. A large portion of the cryptocurrency sector has expressed a negative stance on the stablecoin, citing the lack of regular audits that were promised…
-
The Daily: Peak Blockchain and Stablecoin Drama
Differentiating truth from fiction isn’t always easy, especially in the realm of blockchain. We’ve got distributed ledger stories both real and fanciful in this edition of The Daily, as well as hardware wallet news, an update on bitcoin futures, and the obligatory smattering of stablecoin drama. Also read: Blockchain Surveillance Firm Partners With Cryptocurrency Exchange Binance…
-
Markets Update: Stable Cryptocurrencies and Unstable Pegged Coins
Since our last markets update, cryptocurrencies have been steadily moving sideways as traders are patiently waiting for the next big move. On Wednesday, Oct. 17, bitcoin core has been hovering between $6,400-6,550, while bitcoin cash has been coasting along around $425-500 per coin. The market capitalization of all 2,000+ cryptocurrencies hasn’t budged much over the…
-
Bitfinex Introduces Top Secret Banking System
Bitfinex has restored the ability of customers to make fiat currency deposits. Details of its new deposit system remain shrouded in secrecy, however, with the exchange going to extraordinary lengths to conceal the identity of the bank(s) in question. Its “distributed” system, designed to circumvent censorship, has brought the critics out in full force. Also…
-
The Daily: Tether Regains Ground, Coinbase Does Dublin
Today’s edition of The Daily starts where Monday’s left off: by looking at the latest on Tether, whose stablecoin anchors so much of the cryptoconomy. In related news, we detail Bitfinex’s banking situation and reveal why Coinbase has chosen Dublin to be its European headquarters. Also read: Tether Sheds Its Peg Tether Regains Ground The…
-
The Fall of Tether and What It Means for the Cryptocurrency Markets
The demise of Tether has been a car crash in slow motion. An unswervable event that has played out over the course of months, it has reached a crescendo in the past 24 hours, with tether slipping significantly from its dollar peg. It is possible, perhaps even probable, that it will regain parity with the…
-
The Daily: Tether Sheds Its Peg
What kind of a world are we living in when bitcoin and tether, two of the stablest currencies in the cryptosphere, break out at the same time? Bitcoin is headed north while tether has taken a tumble in events that are closely linked. Of course, there’s other news in this edition of The Daily, like…