Tag Archives: Bitfinex

Tether Deal With New York State Brings Quick Reversal of Crypto-Market Sell-Off

Tether Deal With New York State Brings Quick Reversal of Crypto-Market Sell-Off

The settlement over tether with the New York attorney general’s office appears to remove what might have been a systemic threat to cryptocurrency markets. Bitcoin and other cryptocurrencies recovered partially from their biggest sell-off in a month after the New York state attorney general’s office announced a settlement of a dispute involving the stablecoin tether (USDT) that […]

A Sudden Loss of Faith in Tether Would Pose Risk to Bitcoin, JPMorgan Says

A Sudden Loss of Faith in Tether Would Pose Risk to Bitcoin, JPMorgan Says

“If any issues arise that could affect the willingness or ability of both domestic and foreign investors to use USDT, the most likely result would be a severe liquidity shock to the broader cryptocurrency market,” the report says. According to analysts at JPMorgan, the bitcoin market could face severe liquidity shock if traders were to […]

Bitcoin Futures OI sinks on BitMEX: and it’s a good sign

Bitcoin Futures OI sinks on BitMEX: and it’s a good sign

The recent losses were the aftermath of the US commodities and Futures Trading Commission [CFTC] coming down hard of BitMEX along with the expiry of futures contracts in the stock market. While Bitcoin was the only major currency to face the brunt of the news directly, altcoins soon followed given the correlation factor. However, as the Bitcoin and altcoin […]

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 […]