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 […]
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 […]