Tag Archives: Bitfinex

Bitcoin Rally May Have Been Caused by a Tether Pump, Not Facebook’s Libra

Bitcoin Rally May Have Been Caused by a Tether Pump, Not Facebook’s Libra

While many believed Facebook’s entry into the cryptocurrency market sparked renewed interest in cryptoassets and drove Bitcoin to an 18-month high this month, Tether may also have had a significant impact in the rally. It is true that the latest price surge coincided with Facebook’s announcement that it was to lauch a new cryptocurrency called Libra. News […]

ARE CRYPTOCURRENCY SECURITY THREATS STIFLING THE MARKET

ARE CRYPTOCURRENCY SECURITY THREATS STIFLING THE MARKET

The digital nature of Bitcoin makes it vulnerable to hacking. While traditional banks holding fiat currencies are not exempt from breaches, incidents happen more frequently with cryptocurrencies. Since the emergence of Bitcoin, the loss due to theft within the system has surpassed $1 billion. As digital currencies become more valuable, the security threats are increasing. Digital currency is mostly […]

Coinbase To Fill Gap In Stablecoin Market As Tether Faces Criticism

Coinbase To Fill Gap In Stablecoin Market As Tether Faces Criticism

As Vice President of Corporate and Business Development at Coinbase, Emilie Choi puts it, a stablecoin is a “digital programmable dollar” and let’s be honest, the leading stablecoin, Tether hasn’t had a good few weeks. Given the scandal with Bitfinex, there is a hole for a competitor to come out and take over the stablecoin space. It now seems […]

How the collapse of a football league is tied to crypto’s biggest banking scandal

How the collapse of a football league is tied to crypto’s biggest banking scandal

The Alliance of American Football, an eight-team professional football league, collapsed last month due to financial duress, just eight weeks into its inaugural season. The AAF’s chairman, Tom Dundon—also owner of the NHL’s Carolina Hurricanes—suspended operations, cancelling the last two games of the regular season and the playoffs. As the league imploded, AAF players were left scrambling for […]

Bitcoin’s Lightning Network Reaches Apple Watch as NYAG-iFinex Tit-For-Tat Amps Up

Bitcoin’s Lightning Network Reaches Apple Watch as NYAG-iFinex Tit-For-Tat Amps Up

There was certainly no shortage of crypto news to digest over the weekend. Amongst the notable development was Bitcoin wallet developer BlueWallet Services’ first-of-its-kind announcement that its wallet app had gained Apple Watch support. Additionally, the NYAG-iFinex legal tit-for-tat continued, with AG Letitia James on Friday opposing iFinex’s motion to vacate the highly publicized court […]

Crypto Community Reacts to Tether Admitting USDT Not Fully Backed

Crypto Community Reacts to Tether Admitting USDT Not Fully Backed

According to the company behind it, stablecoin USDT is not fully backed by fiat currency deposits. It was revealed today that the controversial crypto asset firm Tether only holds around 74 percent of the total value of USDT’s current circulating supply. Tether and the crypto exchange Bitfinex are currently defending allegations from the New York Attorney General’s office that […]

NY Attorney General sues Bitfinex and Tether to unearth “fraud being carried out” by the firms

NY Attorney General sues Bitfinex and Tether to unearth “fraud being carried out” by the firms

The New York State Attorney General (NYSAG) is suing Bitfinex, the cryptocurrency exchange, and affiliated firm Tether, the company behind the stablecoin of the same name. The 23-page document, dated April 24, added that the NY AG’s office has reason to believe several New York and US-based traders transact on the firm’s platform. In 2018, […]

Changes to Tether’s Terms of Reserves Raises Fresh Concerns

Changes to Tether’s Terms of Reserves Raises Fresh Concerns

Controversial stablecoin Tether is in the spotlight again after changes to the details of the way in which it backs up tokens in supply. As reported on March 14, various online users noted and posted disconcerting changes to the Tether website, which have seemingly altered the way that the company is providing surety for the tokens it issues. Tether […]

Bitcoin Turns 10: A Brief History of Its First Decade

Bitcoin Turns 10: A Brief History of Its First Decade

Bitcoin, the flagship cryptocurrency, has turned ten years old today as back in 2008 Satoshi Nakamoto, its pseudonymous creator, submitted the “Bitcoin: A Peer-to-Peer Electronic Cash System” to a cryptographic mailing list. The cryptocurrency is seen as the most important innovation to money by its proponents, as it allows for peer-to-peer payments to be processed […]