Emin Gn Sirer: "Did Tether just admit that they loan their cash reserves out to others, presumably Bitfinex That's literally fractional reserve banking
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Tether Replaces EOS to Become 4th Largest Crypto, Shows Market is Very Weak
January 28, 2019 9:09 PM -Bitcoin news, price, information & analysis Stablecoin Tether (Ticker: USDT) has replaced EOS to become the fourth largest cryptocurrency by market capitalization, showing weakness in crypto markets. The inclination follows the cryptocurrency market?s depressive performance this Monday. Over the last 24 hours, the price of all the top coins, including Bitcoin, Ripple, Ethereum, and others, trended in a negative region. Similarly, the value of EOS, Bitcoin Cash and Litecoin also slipped heavily on a 24-hour basis. Tether Chart on CoinMarketCap.com In contrast, Tether?s USDT traded at around $1.01 and the stablecoin saw appreciation in its market capitalization. At 1700 GMT, it was $2.04 billion, up 20% from its Monday low at $1.69 billion.
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Tether | Tether Coin | USDT to USD | Tether USDT | Info
January 17, 2019 2:50 PM USDT is a cryptocurrency asset issued on the Bitcoin blockchain via the Omni Layer Protocol. Each USDT unit is backed by a U.S Dollar held in the reserves of the Tether Limited and can be redeemed through the Tether Platform. USDT can be transferred, stored, spent, just like bitcoins or any other cryptocurrency. USDT and other Tether currencies were created to facilitate the transfer of national currencies, to provide users with a stable alternative to Bitcoin and to provide an alternative for exchange and wallet audits which are currently unreliable. USDT provides an alternative to Proof of Solvency methods by introducing a Proof of Reserves Process. In the Tether Proof of Reserves system, the amount of USDT in circulations can be easily checked on the Bitcoin blockchain via the tools provided at Omnichest.info, while the corresponding total amount of USD held reserves is proved by publishing the bank balance and undergoing periodic audits by professionals.
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What is Tether Beginners Guide to USDT Information & Controversy
January 17, 2019 2:38 PM Cryptocurrency News & Your Guide to the Blockchain Economy If you got into cryptocurrencies in 2017, there?s virtually no way you didn?t hear about Tether (USDT): the good, the bad, and the ugly. Indeed, the ?stablecoin,? so called because a single tether token is designed to maintain the same value regardless of whether the crypto markets are up, down, or sideways, has had a dramatic year to say the least. Today, then, we?re going to be walking you through Tether. What it is, and why it?s generated so much attention over the past several months. Tether is an Ethereum-based ERC20 token that?s billed as the ?U.S. dollar token.? That?s because each tether is said to be pegged to fiat reserves 1:1, with these reserves being maintained in as-yet undisclosed bank accounts under Tether Limited?s control. Tether Limited, of course, is the organization heading up the token project.
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Bitcoin prices could be 40% lower because Tether propped it up Quartz Search Logged out Latest Featured Obsessions Emails Editions
January 16, 2019 4:33 PM Learn more about our mission, values, culture, and staff. Join our global team of smart, curious, and kind colleagues. Let us know if you have feedback, questions, or ideas. How we use, protect, and give you control of your data. What you need to know about using our products and services. We take our integrity seriously. Read more about how. The important stories of innovation across the continent?s wide-ranging economies In-depth coverage of the world?s largest democracy for India and its far-flung diaspora Lifestyle, culture, and living well in the new global economy Management news, advice, and ideas for business leaders
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Bitcoin Price Manipulation: Tether Inflate Cryptocurrencies | Money Close
January 16, 2019 2:35 PM Bitcoin fell 2% early on Wednesday, dropping as low as $6,385. Other than one brief period in early February, when the cryptocurrency dipped below $6,000, today marks the lowest point for Bitcoin in 2018. The latest Bitcoin crash appears to be a reaction to the release of a new study by University of Texas-Austin researchers indicating that Bitcoin prices were manipulated last year?when Bitcoin soared from $800 to nearly $20,000. The New York Times report on the study explained that a ?concentrated campaign of price manipulation may have accounted for at least half of the increase in the price of Bitcoin and other big cryptocurrencies last year.?
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[Analysis] Over the last 30 days 30
January 15, 2019 11:14 AM In 2015 Tether created TetherUS tokens to represent US Dollar as digital token. It has become the dominant ?stable coin? in the cryptocurrency space and it?s one of the most active tokens using our platform. The TetherUS tokens were one of the first 50 created digital tokens on the Omni Layer. It was created as token with manageable supply. With this token type, an issuer can increase or decrease the number of outstanding units. Whenever there is more demand for TetherUS tokens, the issuer can grant new tokens and when tokens are converted back into USD, tokens can be revoked and destroyed. This has happened on regular basis, as indicated by TetherUS? ever changing market capitalization.
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Tether's USDT the blacksheep of crypto market because of 2017 False BTC Pump
January 14, 2019 5:09 PM Get the best viral stories straight into your inbox before everyone else! No featured entries match the criteria. For more information please refer to the documentation. Tether is the blockchain system that always stabled for blockchain technology and digital currency and you can convert your cash into tether system. if you evaluate the tether graph in the previous history you feel that this coin is drunk when the blood reverse observed in bitcoin price from $18000 to $3600 this coin price did affect its price is circulating around specific digits and it shows an amazing management, the price of the coin was from $0.99 and $1.02, And currently this coin listed in top markets as on ranking 7.with Market Cap $1,968,200,187 USD (549,667) BTC , With random evaluation we icoviral. today expert found their 24hr volume on dated 12-Jan-2019 of $3,669,537,962 USD (1,024,806 BTC) and this indicates a great engagement in the system, Circulating supply of this is 1,928,363,199 USDT with the total supply of 2,580,062,243 USDT,
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Sideshift App Demonstrates a Trade Between Lightning Network BTC and Tether
January 13, 2019 2:08 AM Back in October news.Bitcoin.com reported on the influx of development tied to Drivechain, a project initiated by software developer Paul Sztorc. At the time we also covered the project?s extension applications coded by the programmer Andreas Brekken. One of those applications Brekken conceived allowed any Drivenet coins to be swapped between any blockchain protocol. On Friday, an application called Sideshift.ai was used to demonstrate a bitcoin core (BTC) to tether (USDT) swap using the Lightning Network. Also Read: A Look at Some of the ?Next Generation? Bitcoin Mining Rigs Available Today Jan. 11 saw a demonstration of Sideshift.ai, an application that allows users to swap cryptocurrencies between chains. Sideshift was first revealed last year by Andreas Brekken among the suite of applications he created for the Drivechain project. Brekken is the chief executive officer of the review site Shitcoin.com and the infamous coder who once held the most BTC ($220,000) on the Lightning Network last year. The Sideshift platform allows people to convert coins for a small fee with a processing time of under five seconds.
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Tron (TRX) Edges out Tether (USDT) From the Number 8 Spot
January 09, 2019 9:47 PM The Tron cryptocurrency clearly has the momentum in the crypto markets as we complete the second week of 2019. Only days ago, TRX edged out Bitcoin SV (BSV) from the number 9 spot on coinmarketcap.com. On that day, TRX?s market cap stood at $1.558 Billion. Further checking coinmarketcap.com we find that its market capitalization has risen to $1.942 Billion. This has allowed it to edge out Tether (USDT) from the number 8 spot by a margin of approximately $20 Million. A screenshot of the market performance has been provided below for a better visualization. On the 3rd of January news broke that the peer-to-peer file sharing network of BitTorrent will be launching its BTT token on the Tron network. The BTT tokens will allow users of the platform to exchange the tokens to improve the speed of the BitTorrent Network. The project?s whitepaper further explains that the token will be a TRC-10 token. (TRC-10 is a technical token standard supported by TRON blockchain natively, without the TRON Virtual Machine).
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Bloomberg report suggests Tether has the necessary fiat collateral - The Block
January 08, 2019 10:05 PM The question of whether Tether, the largest stablecoin by market capitalization, has the billions in USD to back up its cryptocurrency is something that has long hung over the nascent crypto industry. Those concerns might be "unfounded," a Bloomberg News report finds. Reviewing statements outlining the cash in the company's accounts over four months, Bloomberg found Tether essentially had a dollar for every USDT on the market. The authenticity of the documents was confirmed by a government official. "For example, one statement shows $2.2 billion was in Tether?s account at Puerto Rico?s Noble Bank Ltd. on Jan. 31. That same day, 2.195 billion Tethers existed, according to data compiled by Coinmarketcap.com," the report noted.
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Is a Tether bank run underway - The Block
January 08, 2019 10:02 PM Market observers are speculating about a run on Tether as its price is nearing $0.92 on Kraken after trading for less than $0.99 for a week. If the situation continues to degrade, the collapse of the so-called stablecoin could follow, industry insiders say. And the risk that poses to the value of other cryptocurrencies, a concern expressed about Tether for some time, could come to fruition. Tether plays an important role in the cryptocurrency ecosystem: it makes up about 98% of all the stablecoin volumes and accounts for approximately 92% of all stablecoins in circulation. Tether was created on a simple premise of issuing tokens that will always be redeemable for U.S. dollars. The company, affiliated with Bitfinex, promises to hold the corresponding reserves in bank accounts subject to frequent professional audits. In January, Tether dissolved its relationship with audit firm Friedman LLP and in July, Tether released a report by a law firm Freeh, Sporkin & Sullivan LLP attesting to USD reserves held on just a single day. Tether?s general counsel told Bloomberg: ?The bottom line is an audit cannot be obtained. The big four firms are anathema to that level of risk.?
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Bitfinex introduces margin trading for Tether - The Block
January 08, 2019 10:01 PM Bitfinex announced Friday that it will open margin trading for USDT/USD pair "improving stablecoin offering in line with market evolution and consumer demand." Bitfinex said that the addition of margin trading allows for more efficient price discovery but it will also allow traders "to hedge the exposure taken on stablecoins." Tether will also be available as collateral for margin positions. In late November, Tether reopened direct redemption on Tether's website while Bitfinex added USDT/USD pair for the first time. In early December, Bitfinex added USDC, TrueUSD, Paxos, and Gemini dollar. The company said that there are plans in place to introduce margin trading for other major stablecoins "when sufficient liquidity is reached" as part of the commitment to providing a coin agnostic platform.
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Paxos and TrueUSD trades at a premium against Tether - The Block
January 08, 2019 9:58 PM A week ago, Binance listed PAX/USDT pair, which now allows customers to directly convert Tether, an unregulated stablecoin, to Paxos, a regulated stablecoin that is approved by New York State Department of Financial Services (NYDFS). Binance also lists TUSD/USDT pair, which lets people directly trade Tether for TrueUSD. TrueUSD is administered by an entity that is registered as MSB by FinCEN. Unlike Tether, both Paxos and TrueUSD are redeemable 1:1 for the U.S. dollar and the reserves are frequently attested by auditing firms. Around 1 am UTC, both PAX/USDT and TUSD/USDT pairs saw a sudden uptick in price, which led to both Paxos and TrueUSD trading at as much as 4% premium. This comes at a time when rumors are emerging that Bitfinex, and its affiliated firm Tether, could face insolvency amid reports that its reported banking partner Noble International was no longer working with the firm. On Monday Bitfinex strongly refuted these claims saying: ?Bitfinex is not insolvent, and a constant stream of Medium articles claiming otherwise is not going to change this.? While it is rumored that Tether has struck a relationship with Deltec Bank based in The Bahamas, it is still unclear at which bank Tether is currently holding its reserves.
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The top 10 Tether holders - The Block
January 08, 2019 9:51 PM Tether (USDT) is back in the spotlight this month, as the fiat-backed stablecoin continues to lose its peg to the U.S. dollar. Last week The Block was the first to report that Bitfinex, the cryptocurrency exchange widely associated with printing Tether, was suspending all fiat deposits. As such, we at The Block decided to a look at the top Tether balance and the exchanges that are most likely to be affected in the case of a bank run of Tether. © 2019 The Block. All Rights Reserved.
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Exchange volume for Tether sees all-time high - The Block
January 08, 2019 9:51 PM Tether (USDT), the controversial stablecoin issued by Tether Limited, has experienced its highest exchange volume since first being issued in 2015. According to data from CoinMetrics.io, on December 20, 2018, USDT had over $6.9B in exchange volume. The increase in exchange volume may hint at a return in trader confidence for Tether. On Tuesday, Bloomberg published a report suggesting that Tether Limited has the necessary USD collateral to back up its stablecoin. In November, Tether Limited reopened account verification and direct fiat redemption features for its traders. Bloomberg report suggests Tether has the necessary fiat collateral
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Euro In Disguise As Digital Currency
January 08, 2019 9:26 PM Tether announced the launch of a new crypto euro-coin EURT, issued on the Omni Layer protocol. The new decentralized coin allows the transfer of digital assets priced in USD into Euros cheaper over the Bitcoin Blockchain. According to Tether, the platform introducing fiat currency to the Blockchain, EURT is fully backed by a banking trust in Taiwan on a 1:1 basis of deposits to coins issued. The new Tether Euro coin can be credited via SEPA transfers on OpenLedger, while Coinsbank will enable debit card payments for holders of Tether EURT. Moreover, EURT/USDT trades are available on OmniDex with liquidity of 0.05% of each trade.
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Bitfinex Secures an Account with Deltec Banks, Tether Still Unpegged
January 08, 2019 8:53 PM Bitfinex has today announced ?distributed banking? to presumably try and hide bank details from the public after they?ve seen a number of bank account closures following a banking blockade last year. They say: ?A user wishing to initiate a fiat deposit on Bitfinex will create a deposit request to signal interest in completing a deposit. Through this deposit request, a user will be able to specify the exact amount and currency which they wish to deposit. Following an account review (which may take up to 48 hours), the user will receive a deposit notification which will include, among other things, bank details specific to the individual?s transaction.
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Why Has Tether's Printer Suddenly Gone Silent
January 08, 2019 8:47 PM After printing almost a billion dollars in January alone, Tether (USDT) has suddenly gone very quiet, printing none at all since the 23rd of January, eleven days ago. That?s probably the longest period they have gone without printing since they started issuing Tethers en-mass, but why did they suddenly stop? On the 30th of January it was reported CFTC had subpoenaed Tether, with that report initially stating it was ?last week.? The source of that news appears to be an individual from Tether or Bitfinex because Bloomberg said the person ?asked not to be identified discussing private information.? CFTC then later revealed the subpoena had been sent on the sixth of December, with many arguing this was old news and as tether had printed since the sixth of December, it was unaffected.
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