Tagged: tether

Malta-based Gate.io, a Blockchain Asset Exchange, Hits $400 Million Mark for Perpetual Contracts

Gate.io, a Malta-based blockchain-based digital asset exchange company, reportedly reached a $400 million in trading volume mark on its perpetual contracts platform, which is a new high for the firm this year.   Gate.io’s management has confirmed that the price accuracy of perpetual contracts settled in… Read More

Malta-based Binance Introduces Cardano (ADA) Perpetual Contracts, Tradable Against Stablecoin Tether (USDT)

Binance Futures, the digital assets futures trading platform of Binance, the world’s leading crypto exchange, recently confirmed the introduction of ADA/USDT perpetual contracts. Traders can now trade Cardano (ADA), a digital currency with a market cap of over $1.5 billion, with as much as 75x… Read More

Tether Ltd. Introduces Tether Gold (XAU₮), a New Product Offering “Security of Digital Asset Pegged to Physical Gold” (XAU)

Tether Ltd., the firm that issues the world’s largest stablecoin USDT with a market capitalization of more than $4.6 billion, recently announced the launch of a new product, called Tether Gold (XAU₮), which will provide the “security of a digital asset pegged to physical gold”… Read More

Tether Issues Statement on Consolidation of Class Action Lawsuits

Tether, the stablecoin that has endured a good share of challenges, has issued a statement on pending lawsuits targeting the company. According to a release,  the plaintiffs in three class action proceedings against Tether filed a letter with the U.S. District Court for the Southern… Read More

Clash of Briefs: New York Attorney General and Bitfinex Lawyers File Contradictory Summaries

The New York’s Attorney General’s Office submitted a comprehensive brief to the Supreme Court of New York on December 4th summarizing the current state of the NYAG’s case against Bitfinex and Tether et al., cryptocurrency companies accused of fraud and market manipulation. Lawyers for the… Read More

EU: No “Stablecoin” Cryptocurrency Should Operate in Europe Until Risks Addressed

The Council of the European Union, which implements laws for the EU region, has issued a statement on “stablecoin” cryptocurrencies indicating that, “no global ‘stablecoin’…should begin operation in the European Union until the legal, regulatory and oversight challenges and risks have been adequately identified and… Read More

Plaintiffs in New York Class Action Against Bitfinex Refuse to Revise their Claim

Lawyers for plaintiffs in a class action suit brought against cryptocurrency exchange Bitfinex in New York have declined to revise their complaint alleging the exchange used prints of a crypto-synthetic type of USD to, “creat(e) the largest bubble in human history.” “Plaintiffs do not wish to… Read More

Bitfinex Slams “Copycat Lawsuit” Filed in State of Washington

Bitfinex, a beleaguered crypto exchange, was hit by a class-action lawsuit last week filed in the U.S. District Court for the Western District of Washington. Bitfinex is also the target of an investigation that was launched by the New York Office of the Attorney General…. Read More

Tether Seeks Dismissal of Class Action Case in New York

Tether Inc, makers of a popular cryptocurrency that mimics USD (“tether” or USDt), has asked a judge in New York for permission to file a motion to dismiss a class-action suit filed against the company last month. The suit alleges that parties at Tether Inc and… Read More

Tether Responds to Academic Study: “Tether and Affiliates Have Never…Manipulate(d) Cryptocurrency Market”

Tether Inc. is calling an academic paper claiming the company’s cryptocurrency tether (USDt) was used to induce the bitcoin bull run of 2017 “flawed” and “embarrassing.” The company is responding to an updated version of a 2018 paper by American finance professors John Griffin and… Read More

Research by Professors John M Griffin & Amin Shams: Tether Used to Manipulate Bitcoin Price in Ongoing Ploy via Bitfinex

Two scholars famous for alleging in 2018 that injections of Tether, a cryptocurrency and synthetic form of USD, were used to strategically to push up the price of Bitcoin to $20 000 USD have updated the report with a claim that those injections came mainly from… Read More

Bitfinex Applies to US Court to Subpoena Former Senior Banking Official Who Could Help the Crypto Exchange Recover $850 Million

Gavel Court Legal Trial Law rawpixel unsplash

Digital asset exchange Bitfinex recently applied to a US court to subpoena a former senior banking official of a trust company that the exchange says could help it recover more than $850 million in frozen funds. On October 18, Bitfinex submitted a filing to a… Read More

Attendees at November Offshore Alert Conference in London Will Examine Whether Tether Cryptocurrency Enabled “Biggest Scam in the History of Finance”

Two hundred-fifty investigators, thirty speakers gathering and other attendees at the OffshoreAlert Conference on financial intelligence and investigations in London November 11th and 12th will have a chance to examine the role tethers played in creating “the largest bubble in human history,” the Bitcoin/crypto bubble… Read More

Class Action Suit Launched Against Bitfinex and Tether, Alleged Creators of “Largest Bubble in Human History”

Lawyers at Roche Freedman LLP filed a class action suit on October 6th against Bitfinex, Tether, and associated parties and firms. The suit alleges plaintiffs collectively suffered over $1.4 trillion USD in damages due to defendants alleged violation of Commodities Exchange and federal RICO statutes, as well… Read More

Tether Surpasses Bitcoin as Most Traded Crypto

Tether, a cryptographic proxy of USD created in 2014 to give liquidity in crypto markets, has now solidly surpassed Bitcoin as the most traded cryptocurrency in the world. According to the Sydney Morning Herald (SMH), Tether first surpassed Bitcoin in daily trading volumes back in… Read More

Enough Delays: New York Attorney General Asks That Crypto Exchange Bitfinex Be Ordered to Have Records Ready If Company Loses November Appeal

New York Attorney General Letitia James has asked a New York judge to order crypto companies iFinex, Bitfinex and Tether to have records ready and on hand, if they lose their November 4th appeal: “(T)he OAG respectfully requests that this Court…(to) issue an order that… Read More

Happy Anniversary: One Year Old USD Coin Now Second Most Popular Stablecoin

USD Coin (USDC) celebrated its first birthday this past week. As noted in a tweet, USDC is now the second most popular stablecoin following Tether. On September 26, 2018, Circle and the CENTRE open source consortium introduced USD Coin to enable individuals and institutions to… Read More

Tethers Cause Traffic Jam on Ethereum

The unexplained recent migration of almost a billion USD-pegged tether cryptocoins to the Ethereum network has caused 100 000 transactions to get “stuck” in processing there, Trustnodes reports. (Graphic courtesy of Trustnodes) The controversial tether coins have been moving from their native OMNI network and other… Read More

Report: Coinbase Processing Majority of Public-Facing USD-to-Tether Trades, Binance Hosting Most Public BTC-to-Tether Action

America and Asia’s two largest public-facing crypto trading platforms, Coinbase and Binance, also bear the most exposure to Tethers, a synthetic form of USDs introduced into crypto trading markets to give liquidity. This is the conclusion of CoinMetrics, a blockchain data analysis firm, which recently… Read More

Tether Launches Offshore Chinese Yuan Proxy

Controversial stablecoin issuer Tether has launched its promised “CNHt” coin, which is designed to act as a cryptographic proxy of offshore Chinese yuan (CNH). The coin will run as an ERC-20 token on the Ethereum network. Offshore Chinese yuan (CNH) added to our basket of… Read More

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