tether news reddit

New York's top law enforcement official had been investigating Tether and Bitfinex over allegations that they tried to cover up $850 million in losses. Tether, a so-called "stablecoin," is in trouble. A new website has cropped up from an anonymous author called “The Tether Report.” On the site, the author goes through various analyses and arrives at, well, a horrifying proposition: “If there is questionable activity, the author believes a 30-80% reduction in BTC price could be forecast.” Tether is a blockchain-based cryptocurrency that has its roots in the U.S. Analysis of the New York Supreme Court Remittitur in the Tether and Bitfinex New York Attorney General Cases December 6, 2020 March 10, 2021 ~ Bennett Tomlin UPDATE: This was refiled presumably as part of the formal movement from the Supreme Court back to trial and the actual decision came down in July. tether: . PAX: The PAX token is issued by Paxos Standard, a New York based trust Tether now has a $35B market cap! The new version of USDT is expected to launch sometime in the next quarter. The two firms also agreed to pay $18.5 million in fines to end the state’s 22-month investigation into their activities. And this has eventually made it the third-largest cryptocurrency in the world. Tether is reported backed one-to-one by traditional currencies ($, €, ¥) held in reserves with $1 equivalent to 1 Tether (USDT) which could provide protection against cryptocurrency price volatility. Tether, which is indexed to the dollar and defined as a stabilecoin, was caught on the radar of the New York Attorney General on the grounds that fraudulent transactions were carried out. Tether coin is the most popular and controversial stablecoin, a cryptocurrency tied to a stable asset such as gold or units of a fiat currency. The famously high volatility of the crypto markets means that cryptocurrencies can rise or fall by 10-20% within a single day, making them unreliable as a store of value. We give you the freedom to exchange your money for Tether (USDT) and use it as you see fit; be it for paying for goods and services, protecting your assets against inflation, purchasing digital currencies, or to hedge against the price volatility of cryptocurrencies. ⭐ Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more. — CZ Binance (@cz_binance) October 15, 2018 Muun Launches Bitcoin Core Pockets. World's largest stablecoin Tether has recorded a significant milestone as its market cap grew six percent from last month. According to the Tether balance-sheet, the company has $25.139 Billion in total assets The use of USDT on Tron has seen a significant increment as Tether users avoid high fees on Ethereum The market capitalization of the popular stablecoin of Tether (USDT) has just surpassed $25 billion. Like Tether, this is a fully Fiat backed stablecoin with US dollars in accounts. Massive Growth From Last Year’s .6B This latest milestone makes Tether (USDT) the third-largest digital asset behind only Bitcoin […] Bitfinex and Tether have agreed to stop doing business with New Yorkers, and now must pay $18.5 million in fines. Tether that sat at the 3rd position comfortably slipped to no 4 and then no 5 as Polkadot took its place. an excessive amount of FUD. The co-founder of Coin Metrics responded to the post and its writer with heavy criticism. In addition to bringing the innate stability of fiat currencies to the market, Tether aims to offer easier and faster currency conversion and streamlined handling of digital payments on a global scale. Tether’s CTO hopes a new EOS-Bitcoin interoperability bridge could one day make tether cheaper and faster because users will be able to make transactions on less-congested blockchains. This is a very fast blockchain, capable of supporting up to 50,000 transactions per second, with fees of less than one-thousandth of a dollar per transaction.. Binance Coin has increased by over 100% in the last week. Tether is a US dollar substitute token, issued by Tether Inc., an associate of cryptocurrency exchange Bitfinex. Speculation in the market currently centres on whether Tether has the reserves to back the available Tethers in the market (2.51Billion). Remember, this is the same period that saw Bitcoin go on its epic run to nearly $20,000. If Tether Ltd. had at any point in time made any significant USDT -> USD redemptions that outweighed the new USDT given out to new buyers, we should have seen that by a significant number of Tethers … Tether is a favourite of the crypto trading markets — it moves at the speed of crypto, without all that tedious regulation and monitoring that actual dollars attract. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more. The integration will allow USDT users to utilize Solana’s impressive speeds of greater than 50,000 transactions per second with fees as low as $0.00001 per transaction. As Decrypt reported earlier this year, those pumps are indeed telegraphed in advance. Tether stablecoin is fully backed, says new assurance report Cointelegraph 15:03 30-Mar-21 External Auditor First to Confirm Tether’s USDT Backing Crypto Briefing 14:51 30-Mar-21 Tether Offers Transparency Report to Prove Its Reserves Are Fully Backed CoinGape 13:32 30-Mar-21 ReddIt. Tether is a so-called stablecoin. The Wall Street Journal was […] USDT • Reddit • r/Tether … Tether represents a significant risk to the cryptocurrency ecosystem and if Tether is significantly underfunded it could damage the reputability of cryptocurrencies. With the announcement made today, both Bitfinex and Tether were fined $ 18.5 million. Tether has launched USDt tokens on the Solana blockchain too. The aim is to facilitate the development of high-speed, low-cost applications, including DeFi applications.. New York Attorney General, Letitia James, accused both Bitfinex and Tether of conspiring to cover up an $850 Million loss by Bitfinex without accurately reporting it to investors. Bitfinex and Tether have agreed to stop all trading activity in the state of New York as part of a settlement announced today by New York Attorney General Letitia James. Its issuer, a company of the same name, has long claimed that Tethers—of which more than 34bn are in circulation—are backed one-to-one by dollars. To show proof of its bank balance, Tether released a letter dated November 1 that appeared to come from Deltec, confirming “the portfolio cash value of your account with our bank was US$1,831,322,828” as of October 31. He wrote that the author did not do the necessary research, and has instead just repeated wrong information. Click HERE to find out ⭐ Report on Tether Stablecoin Says it is Backed One to One with the US Dollar. This is more than all other stablecoins current market caps combined. How to Buy Tether on Paxful Paxful aims to make financial services accessible to millions of underbanked individuals worldwide. However, unlike Tether, through its holdings at State Street bank it has retained a pass-through insurance product to provide FDIC insurance within specific limits. According to Tether, whenever it issues new USDT tokens, it allocates the same amount of USD to its reserves, thus ensuring that USDT is fully backed by cash and cash equivalents. We’ll have extra on this story, and what it means for Bitfinex, Tether and the cryptoconomy as an entire, later immediately. That news compounded concerns about alleged market manipulation—because Tether’s total volume generally equals that of Bitcoin, the theory goes that Tether surges are engineered to pump Bitcoin’s price. After a two-month pause, Tether is once again issuing fresh batches of USDT to the Bitfinex wallet, ... the author found that 48.8% of all of Bitcoin’s gains in the observed period occurred within two hours following a new Tether grant. A brand new on a regular basis pockets for storing and sending bitcoin core has been launched in beta. #Tether added an additional $14B to its market cap since January 2021. Its collapse could trigger a crypto version of a bank run, potentially toppling exchanges and cratering the price of bitcoin and other cryptocurrencies To Tethers credit they have previously issued a letter from their new bank, Deltec, proving their reserve balance. Tether’s market cap continues to grow and is currently at $38 Billion The team at Tether has announced that they will be launching USDT tokens on the Solana (SOL) network. New York Attorney General Letitia James has doubled down in its rhetoric against fraudulent and deceptive cryptocurrency trading platforms and has ordered Bitfinex and Tether to shut down their operation in New York.. Bitfinex’s Tether, one of the world’s most popular stablecoins, has finally gave in to regulatory pressure. Another allegation has also been made regarding serving clients in the NY jurisdiction where they should not be allowed to. 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