Tagged: tether

Still Undaunted by New York Investigation, Tether to Issue Offshore Yuan

Tether is continuing its bid to sell synthetic versions of world currencies by issuing yet another “stablecoin,” this time in the form of CNHT, which will act as a proxy for offshore Chinese yuan (CNH). Tether, its parent company iFinex and sister company, crypto exchange… Read More

Celsius Network Announces New Partnership With Tether

Celsius Network, a cryptocurrency lending and borrowing platform, announced on Wednesday it has formed a partnership with Tether, a stablecoin which pegs its value to the US dollar. Celsius Network reported that its mobile app will now support the USDT ERC20 stablecoin allowing USDT holders… Read More

After 4-Month Fight, Bitfinex Ordered to Provide Business Records

A judge presiding over proceedings in a case of alleged fraud by crypto trading platform Bitfinex (and associated companies) has ordered the companies to provide records compelled under ex parte orders issued in New York in April. Almost immediately after the orders were issued, Bitfinex… Read More

No Tethers, No Go Up: Critics Note Crypto Price Slump as No New Tethers Issued

Skeptical crypto-twitter commentators are throwing shade on the controversial stablecoin Tether, claiming a correlation between recently stable cryptocurrency prices and the cessation of “printing” at Tether, a company that has minted more than $4.15 billion synthetic USDs for the use in trading of cryptocurrencies. Self-declared… Read More

Report: 300 Whales Control 80% of Tether Supply

A cryptocurrency data research firm says that 80% of the world’s $4 billion USD supply of Tethers, a cryptographic/digital proxy of USD, is controlled by about 300 entities, Bloomberg reports. These “whales” all control more than $1 million USD in tethers each. By comparison, at… Read More

New York Attorney General Says Bitfinex Crypto Exchange Should Have Required Records On Hand

Lawyers for Bitfinex, iFinex, and Tether, cryptocurrency companies currently under investigation for fraud in New York sent a letter to the presiding judging promising to appeal if the case against them is not dismissed. They also asked Judge Joel M Cohen to preclude them from having… Read More

Report: Tether Has Supplanted Bitcoin for Russia-China Commercial Remittances

An unnamed OTC trading desk in Moscow is selling up to $30 million USD in “tethers” per day to Chinese merchants sending proceeds home, Coindesk reports. Until 2018, the favoured currency for this type of transacting was reportedly Bitcoin, but Chinese merchants have lately started dumping… Read More

Bitfinex Lawyers Threaten to Appeal if Motion to Dismiss New York Fraud Case Denied

Lawyers for the crypto exchange Bitfinex (and associated companies iFinex and Tether) have sent a letter to the judge presiding over anti-fraud proceedings against them in New York threatening to appeal if the judge does not dismiss the case against them. The letter from Bitfinex… Read More

Bitfinex Fraud Case Extended 90 Days, Trading from New York “Easy”

Tenacious and liquid crypto exchange Bitfinex and affiliate companies had hoped that a fraud case brought against them by the New York Attorney General (NYAG) would be wrapped up this week. Instead, a formerly sympathetic judge has granted an extension, The Block reports. Bitfinex, iFinex, and… Read More

No New York Customers, No Jurisdiction: Bitfinex Crypto Exchange Says New York Fraud Case Weak

Bitfinex, iFinex, and Tether, cryptocurrency companies defending themselves against fraud allegations in New York, are claiming that the New York Office of the Attorney General (OAG) has failed to substantiate claims the companies facilitated trades for New York residents without being licensed to do so…. Read More

“Hybrid Decentralized Exchange” IDEX Delists Bitfinex’s LEO Token

IDEX, a “DEX” (decentralized exchange) registered in Panama and billing itself on Twitter as the “Number 1 Hybrid DEX on Ethereum,” has announced it is delisting LEO, a controversial exchange token created by Bitfinex. Bitfinex, it’s parent company iFinex and fellow subsidiary company Tether have… Read More

Hot Water Gets Hotter: NY Attorney General Claims Bitfinex Operated Unlawfully in New York Until 2019

The Attorney General of New York (NYAG) has submitted a memorandum in court documenting iFinex/Bitfinex/Tether’s “extensive ties to New York” and disputing the Seychelles-registered companies’ claims that New York authorities have no jurisdiction and that its fraud investigation is impeding business. iFinex and subsidiaries Tether… Read More

Kraken CEO: Media Reports and “Massive Inflows of Fiat” Inflating the Price of Bitcoins, Not Tethers

Jessie Powell, the CEO of the San Francisco-based cryptocurrency trading platform Kraken told TD Ameritraid Monday that real money pouring onto crypto exchanges fuelled Bitcoin’s recent price rise, not controversial synthetic USDs called tethers. Tether printing comes after fiat and not before, said Powell: “Recently,… Read More

Report: Only 30% of Proposed Stablecoins Live, Many Could Launch in 2019

Blockdata, a 2018-founded company maintaining a database of “objective information about the companies, projects, products, and tokens that comprise the blockchain ecosystem,” has produced an interesting report about stablecoins called “An overview of the current state of stablecoins.” Blockdata found that so far, at least… Read More

Bitfinex Starts Buying Back LEO Tokens Issued to Cover Funds Seized by Law Enforcement

Bitfinex, a cryptocurrency trading platform and sister company to stable coin-issuer Tether, announced June 14th that buybacks of its LEO token, issued to help cover operational shortfalls, have begun. LEO token bought back are purportedly being “burned” (decommissioned) by the issuer. About a billion tokens… Read More

Tethers Spreading: Controversial “Stablecoins” Moving onto EOS, Liquid and Lightning Networks

Tethers, controversial “stable” crypto-coins created to allow quick moves in and out of cryptocurrency trading positions are being introduced onto the EOS network, a newer rival of the Bitcoin and Ethereum networks. Tethers are issued by the Tether company, which announced the plan May 31st… Read More

Neutral Dollar Stablecoin Founder Slams Tether

Matt Branton, CTO of Neutral and architect of Neutral Dollar – an aspiring stablecoin, has slammed stablecoin leader Tether in a statement. Neutral Dollar (NASD) is a stablecoin pegged to a basket of four other stablecoins (USDC, PAX, DAI, TUSD) which just recently went live…. Read More

Hot Water or Not: Embattled Bitfinex Crypto Exchange Launches IEO (Initial Exchange Offering) Platform

Bitfinex, a cryptocurrency trading platform dogged for years by controversy, is launching a platform for the issuing of IEOs (initial exchange offerings). IEOs are essentially a revamped version of the ICO (initial coin offering) except that rather than being sold directly to investors by issuers… Read More

Stakeholder Says Troubled Bitfinex Exchange Has Sold All One Billion IEO Tokens Issued to Cover $850 Million USD Seized

Chinese OTC Bitcoin trader Dong Zhao has once again taken to Chinese mega social platform WeChat to talk up an IEO (initial exchange offering) being issued by Bitfinex, the troubled cryptocurrency exchange in which Zhao reportedly holds equity, Coindesk reports. Bitfinex is owned by iFinex,… Read More

iFinex, Parent Company of Bitfinex and Tether, Asks Court to Void Ex Parte Orders Compelling Records and Freezing Funds

iFinex, parent company of the Bitfinex cryptocurrency exchange and creator of Tether, the world’s most popular “stablecoin” cryptocurrency, has asked a court in New York to “vacate” (render void) ex parte orders issued by the Attorney General of New York compelling iFinex to produce comprehensive… Read More

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