Tether USDT token goes live on Tezos blockchain
Tether, the world’s most popular stablecoin, has announced the launch of the Tether (USDT) token on Tezos blockchain to increase its digital footprint in digital payments and DeFi sectors. “USDT on Tezos will enable breakthrough applications across payments, DeFi, and more,” according to the press announcement. More information about the expected utility of Tether tokens […]
Bahamian bank Capital Union shares Tether’s crypto strategy
Capital Union, a Bahamas-based bank that is said to own a percentage of the Tether (USDT) stablecoin issuer’s reserves, and a large variety of digital assets as part of its trading and custody services. A spokesman for Capital Union told Cointelegraph on May 31 that the bank has begun offering crypto trading and custody services […]
CFTC fines Tether and Bitfinex a combined $42.5 million
Tether and Bitfinex were fined $41 million and $1.5 million, respectively, by the Commodity Futures Trading Commission (CFTC) on Oct. 15, citing violations of a previous CFTC ruling. Tether, the company behind the eponymous stablecoin, only had sufficient cash reserves to underpin the dollar-pegged asset for 27.6% of the time during the 26-month period under […]
Tether denies report of using its reserves for investments and making crypto-backed loans
Tether (USDT), the largest stablecoin by market capitalization, has denied the facts of a Bloomberg story about its reserves holdings, calling the report a “tired attempt” to undermine the company. Bloomberg journalist Zeke Faux said in a Thursday story that Tether’s chief financial officer Giancarlo Devasini has utilized the company’s reserves to make investments, contradicting […]
Court dismisses case against Tether and Bitfinex
Many of the claims in the class-action lawsuit filed in the Southern District of New York against stablecoin issuer Tether and cryptocurrency exchange Bitfinex have been dismissed by the judge. District Judge Katherine Polk Failla granted petitions from Tether and Bitfinex’s parent company iFinex to reject crucial claims in the plaintiffs’ case alleging the two […]