Tether

Users Criticize Uniswap’s Decision to Remove Over 100 Tokens From Main Interface

<div class=”featured_image_container”> </div> <strong>The largest decentralized exchange (dex) platform, in terms of trade volume, Uniswap has revealed the dex has removed a number of tokens from the platform interface. The community assumes the tokens could be deemed securities by global regulators. Uniswap users can still swap these tokens via accessing specific smart contracts themselves, as …

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Paxos Standard Presents Assets Backing Its Stablecoins

<div class=”featured_image_container”> </div> <strong>Paxos, a regulated blockchain company, recently presented the basket of resources that back its stablecoins. Paxos Standard (PAX) and Binance USD (BUSD) are reportedly backed almost 100% by cash and cash equivalents. Dan Burstein, CCO of Paxos, harshly criticized Tether and Circle, issuers of other stablecoins, stating their products we’re not really …

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Tether promises an audit in ‘months’ as Paxos claims USDT is not a real stablecoin

There will be an official audit of the world’s most popular stablecoin Tether within months according to the project’s general counsel. An audit for the world’s third-largest digital asset has been awaited for several years and increased regulatory pressure appears to have accelerated the process. In a rare mainstream media interview on CNBC, Tether CTO …

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Circle Publishes USDC Attestation, Reserve Report Reveals Segregated Accounts in USD-Denominated Assets

<div class=”featured_image_container”> </div> <strong>On July 20, the CEO of Circle Internet Financial LLC., Jeremy Allaire, published a blog post that explains the firm’s dollar-pegged stablecoin is backed by “prioritized trust, transparency, and accountability.” Allaire’s blog post follows a letter from the Centre Consortium’s accountant, Grant Thornton explaining that the stablecoin’s reserve account information matches the …

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Hong Kong Busts Money Laundering Ring Using Tether to Wash Millions

<div class=”featured_image_container”> </div> <strong>Authorities in Hong Kong have arrested four people suspected of money laundering a total of $155 million through cryptocurrency wallets and bank accounts. The city’s customs agency said this was its first case in which virtual money had been used to launder dirty cash. </strong> Money Laundering Syndicate Recycles $155 Million in …

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Boston Fed President Says the ‘Exponential Growth’ of Stablecoins Could ‘Disrupt’ Money Markets

<div class=”featured_image_container”> </div> <strong>Boston Federal Reserve president Eric Rosengren discussed stablecoins in a recent presentation on June 25. Rosengren stressed that stablecoins could be a “disruptor” to prime money market funds and the Boston Fed president remarked that the exponential growth of stablecoins is concerning.</strong> Rosengren: ‘We Should Be a Bit Concerned About Stablecoin Markets …

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Federal Reserve official: Stablecoin growth is ‘exponential,’ deserves ‘attention’

While a presentation yesterday from Boston Federal Reserve President Eric Rosengren has some members of cryptoTwitter spooked at the idea of regulation and oversight, the central bank might simply be pondering the future.  In a presentation titled “Financial Stability,” Rosengren identified the stablecoin Tether by name as a part of three different “Financial Stability Challenges.” …

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Altcoin Roundup: Stablecoin pools could be the next frontier for DeFi

In times like these, when the entire cryptocurrency market is down and there is nary a sector-wide runup to be found, traders have to dig into data to see how the market dynamics may have changed to pinpoint signs of new growth.  Stablecoins are the newest trend to emerge in the decentralized finance (DeFi) arena …

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CNBC host boldly reveals he sold his BTC amid depths of bear market

Jim Cramer, the host of CNBC’s Mad Money, announced he has liquidated nearly all of his Bitcoin (BTC) holdings. Speaking on June 21 during an interview with CNBC’s Squawk Box on the Street, Cramer asserted that BTC is ”not going up because of structural reasons,” highlighting China’s renewed regulatory clampdown. Cramer stated that China’s central …

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Stablecoin inflows to exchanges dip as traders watch Bitcoin from the sidelines

The growth of stablecoin’s market cap and circulating supply has been one of the best indicators for attaining a general pulse on how participants in the market are feeling during bullish and bearish times. Monitoring the Tether (USDT) treasury for large issuances was a common tactic used by analysts and traders to position themselves for …

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