Yearn DAI hacks: Tether releases freshly unfrozen funds related with Poly Network
Following the announcement that $33.4 million in frozen assets had been released, Tether has been in the news today. Tether, world’s largest was linked to the hacking of the Poly Network that occurred earlier this month, according to the report. The funds were transferred from the Tether Treasury to the Poly Network Multisig address, with […]
Ontario securities commission bars Wealthsimple and Coinberry platforms from trading Tether
According to regulatory documents, the Ontario Securities Commission has prohibited a pair of crypto trading platforms from trading Tether. Wealthsimple and Coinberry, both based in Toronto, are the first of their kind to be accepted into “an interim, time-limited registration framework that would allow crypto-asset platforms to operate within a regulated environment, with regulatory requirements […]
USDC on Coinbase is now ‘backed by fully reserved assets’
Contrary to the “backed by U.S. dollars in a bank account for USDC on Coinbase,” the website now states that USD Coin is “backed by fully reserved assets.” USD Coin (USDC), Circle’s dollar-pegged stablecoin, appears to have lost one of its most significant competitive advantages over Tether (USDT) (USDT). Following an audit that revealed that […]
Tether claims to have boosted its overall assets by $21B in a recent accounting review
Tether began producing public accounting reports in February 2021, following a settlement with the New York Attorney General’s office. On Monday, Tether Holdings Limited, the firm behind the USDT stablecoin , released an independent accountant report saying that its tokens are fully guaranteed by its reserves. Moore Cayman, a Cayman-based accounting network, assessed Tether’s most […]
Ex Bitmain chief raise funds for new crypto unicorn
Jihan Wu’s Bitmain exit strategy included the creation of Matrixport, which today has a market capitalization of more than $1 billion after only two years in the business world. With the launch of Bitmain Technologies in 2013 and the subsequent public offering, Jihan Wu established himself as a household brand within the cryptocurrency industry. His […]