Tagged: usdt

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

Algorand’s Venture Arm, Algo Capital, Loses Millions in Crypto Wallet Security Breach

Algo Capital, the investment division of the US-based blockchain startup Algorand, reportedly lost around $1-2 million in Algorand (ALGO) tokens and Tether (USDT) stablecoins after the company CTO Pablo Yabo’s mobile phone was hacked. The security breach allowed hackers to access an Algo hot wallet… Read More

Tether Lawyer Admits the Stablecoin Only 74% Backed

A lawyer for iFinex, the company behind the Bitfinex cryptocurrency exchange and”stablecoin” Tether (USDT), has admitted in an affidavit that the company only has enough cash on hand to cover 74% of the tethers it has issued into cryptocurrency trading markets. In the affidavit, “Stuart… Read More

Bitfinex Opens Margin Trading For USDT/USD Pair

Bitfinex, a digital asset trading platform, announced last week it has opened margin trading for USDT/USD pair to improve its stablecoin offering in line with market evolution and consumer demand. The platform revealed in a blog post: “At Bitfinex we work tirelessly to ensure our platform… Read More

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