Tether

Bittrex and Poloniex Targeted in Class-Action Crypto Manipulation Suit

The plaintiffs behind a class-action alleging that Bittrex and Tether drove the 2017 bull run through market manipulation have requested the issuance of summons to exchanges Bittrex and Poloniex.  The lawsuit, first filed in October 2019, alleges that veteran cryptocurrency exchange Bitfinex and its sister company Tether inflated the supply of Tether’s USDT stablecoin without …

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Ethereum Second-Layer Scalability Still Needs Work, Says Starkware CEO

Uri Kolodny, co-founder and CEO of blockchain firm StarkWare, told Cointelegraph that Ethereum second-layer scalability solutions still need some work. Ethereum co-founder Vitalik Buterin claimed on June 1 that the blockchain’s layer-two scaling initial deployment has “basically” succeeded. Kolodny — on the other hand — told Cointelegraph that he is not as convinced: “I wouldn’t …

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Do Zero-Reserve Loans Make Tether Better Off Backed by Bitfinex Stock?

Earlier this week, Tether (USDT) was making headlines for flippening XRP and taking the number three spot for largest cryptocurrency by market cap. Confidence in the leading stablecoin seems to have returned, despite Tether and Bitfinex still being embroiled in two ongoing court proceedings — one of which relates to an $850 million cash loan …

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Tether Unseats XRP As Third-Largest Crypto, Dwarfing Its Volume 25:1

Tether (USDT) has overtaken XRP to become the third largest cryptocurrency by market capitalization, as Ripple fails to gain adoption amongst retail investors. Top 10 Cryptocurrencies by Market Capitalization. Source: CoinMarketCap As for Ripple (XRP), it’s been a race to the bottom, its market cap has collapsed from a high around $130 billion in January …

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More Than $220M in Bitcoin Withdrawn from Crypto Exchanges Since the Halving

In mid-April, news.Bitcoin.com reported on a great number of BTC withdrawn from cryptocurrency trading platforms and after the third BTC halving, the trend has picked up once again. Data from Glassnode’s Bitcoin Exchange Net-Flow statistics show that close to 24,000 BTC has been withdrawn since May 11. Additionally, statistics from Bituniverse’s exchange reserve data indicate …

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Stablecoin Supply Breaks $10B as Traders Demand Dollars Over Bitcoin

The value of assets for all stablecoins surpassed $10 billion Tuesday, having surged by over 70% in just two months, according to Coin Metrics. Stablecoin supply growth comes as more cryptocurrency traders choose to trade alternative cryptocurrencies (or altcoins) using dollar-backed digital tokens instead of bitcoin. Most of the stablecoin growth comes from tether, which …

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Tether USDT Surpasses XRP as the 3rd Largest Cryptocurrency

Tether’s (USDT) has just surpassed XRP in market capitalization, becoming the third biggest cryptocurrency in the moments leading into the Bitcoin halving. Sitting with a market cap of $8.79 Billion it is now bigger than XRP, whose market cap is roughly $8.6 billion. USDT is currently second only to Ether (ETH) as the largest altcoin …

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Bitcoin Gains Ground on Gold, Bolsters Claim as the Asset of Tomorrow

Is gold faltering as a safe haven? A Coinbase blog post from May 1 suggested that several months into the COVID-19 pandemic, gold’s market efficiency vis-à-vis Bitcoin (BTC) could be slipping. “Bitcoin and gold are fundamentally similar as scarce and globally accessible units of value,” the report noted, but recent “challenges” in the gold market …

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Tether Held on Exchanges Could Help Forecast Bitcoin Bull Runs

A crypto data firm representative explained how Tether’s on chain data can potentially forecast Bitcoin’s (BTC) bull runs. Marketing and social media director at Santiment, Brian Quinlivan, told Cointelegraph on May 7 that the percentage of USDT held on exchanges often anticipates Bitcoin’s bull runs. He explained the principles behind the analysis: “Most USDT isn’t …

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Blockchain Bites: Bitfinex Sues, Miners Prepare, Congress Considers

Around the world, from the Middle East to the D.C. Beltway, blockchain is proving its value. In the Middle East, citizens hampered by weak governments, unstable currencies and fraught political environments are turning to crypto to store their wealth and transact on a daily basis. Meanwhile, the U.S. Senate is considering blockchain voting as a …

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