USDT

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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Treasury secretary Yellen urges lawmakers to quickly introduce stablecoin guidelines

United States Treasury Secretary Janet Yellen has told financial regulators that the government must act quickly to establish a regulatory framework for stablecoins. The comments came at Monday’s meeting of the President’s Working Group on Financial Markets. The group discussed the rapid growth of stablecoins, revealing plans to issue regulatory recommendations in the coming months, …

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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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Dogecoin Sheds 67% Since Price High — Meme Token’s 12 Month Market Stats Still Outshined BTC

<div class=”featured_image_container”> </div> <strong>The notorious meme crypto asset dogecoin has seen better days, as the digital currency tapped an all-time high (ATH) two months ago at $0.737 per unit. Today, dogecoin is down 67% since the ATH and over 30% during the last three months as interest in the dog meme coin is waning.</strong> Dogecoin …

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Chinese Traders Still a Major Influence the Crypto Market, According to Experts

<div class=”featured_image_container”> </div> <strong>Chinese traders still exert a major influence in the cryptocurrency market, even with all the distinct issues they must now face to operate. This is the opinion of several experts in the field that have weighed in on how the recent prohibitions and ban proposals from China are really affecting how Chinese …

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Daily Cryptocurrency Exchange Trade Volume Taps All-Time High, Stablecoin Swaps Dominate

<div class=”featured_image_container”> </div> <strong>According to this week’s data, cryptocurrency trade volume touched an all-time high on May 20, reaching $1.76 trillion in reported 24-hour volume. Daily trade volume statistics for Monday have been high, as reported volume from crypto market aggregators shows over $300 billion in 24-hour volume. Meanwhile, stablecoins capture 50% of Monday’s global …

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Crypto Markets Lose Billions, Weak Hands Capitulate, Stablecoin Market Surpasses $100 Billion

<div class=”featured_image_container”> </div> <strong>Digital currency markets have shed billions once again, as the entire crypto-economy has been cut down from well over $2 trillion to today’s $1.44 trillion market valuation. Bitcoin was coasting along just above the $38k handle before 9 p.m. (EST) yesterday evening but after that point, sellers started capitulating and the price …

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Privacy-Centric Coins See Fresh Gains, Monero Captures All-Time Price High

<div class=”featured_image_container”> </div> <strong>On May 7, the privacy-centric crypto asset monero captured an all-time high at $515 per unit, as demand for confidential transactions has increased in recent times. Monero has gained more than 190% during the last three months, while a number of other privacy coins like zcash, verge, horizen, and grin have seen …

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Bitcoin’s Market Dominance Slides to 50%, While Ethereum’s Valuation Climbs Higher

<div class=”featured_image_container”> </div> <strong>Bitcoin dominance, the metric that measures bitcoin’s overall market capitalization against all the other crypto asset valuations has dropped considerably in recent weeks. At the end of February, bitcoin dominance levels started sliding downward from 61% to today’s 50%. Meanwhile, from the same point in time ethereum’s market capitalization has increased from …

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