Blockchain 

Tether to Launch Gold-Backed Stablecoin

Over the course of the past few years, stablecoins have become one of the most important constituents of the crypto ecosystem, and Tether is certainly the most well-known. The stablecoin is backed by several fiat currencies, and over the years, it has worked as an excellent substitute for fiat currencies for crypto traders. Key Points to Watch In a new development, it has now emerged that Tether is all set to launch a new cryptocurrency that is going to be backed by gold. The cryptocurrency in question is “Tether Gold,”…

Read More
Blockchain 

Tether Fires Back At “Flawed” Study, Says Coin is Backed By USD Again

Tether has responded to what it describes as a “flawed” paper written by academics from the University of Texas and Ohio State University, which claimed that a single address on the Bitfinex exchange was responsible for manipulating the surge in Bitcoin value in 2017. Tether Claims Study Was Lacking in Data Professor John Griffin and Amin Shams analyzed over 200 gigabits of data relating to the transaction history between Bitcoin and Tether and found that the surge in value in late 2017 was attributable to one large trader, or a whale…

Read More
Blockchain 

Tether Accused of Major Market Manipulation in Trillion Dollar Lawsuit

Tether and its sister company Bitfinex have been accused of creating “the largest bubble in human history” in a lawsuit filed in New York this week. Tether Artificially Inflated Prices The class-action suit filed in the Southern District of New York alleges that the two companies, and a number of affiliated entities, manipulated the crypto market out of up to $1.4 trillion USD. The suit’s central allegations center around long-standing claims that Tether essentially printed billions of dollars worth of tokens to artificially inflate prices and convince the market that there…

Read More
Blockchain 

Tether Becomes the Most Used Cryptocurrency in the World

Over the past few years, the fiat-backed stablecoin Tether has become the subject of fevered discussions among those in the crypto sphere as well as those outside of it. It is a crypto token that is used across a range of crypto exchanges in order to facilitate trading, and it goes without saying that the stablecoin has become extremely popular among plenty of crypto traders. Most Widely Used Cryptocurrency However, data from Coinwidely using cryptocurrency market cap has now shown that Tether is actually the most widely used cryptocurrency in…

Read More
Blockchain 

Tether Introduces New Yuan-Linked Stablecoin, CNHT

The cryptocurrency space has had its fair share of controversies throughout the course of its short existence, and one of the biggest ones to date is the one related to stablecoins. There are plenty of stablecoins in circulation these days, but the most controversial one so far is Tether, and it is simply due to the fact that is it is the most popular one within this particular group of digital assets. Key Analysis The reason why many in the crypto space are suspicious of Tether and other stablecoins is…

Read More
Blockchain 

Is Tether Taking Over the Ethereum Network? Buterin Warns of Issues

Processing transactions in the digital token Ether on the underlying blockchain could soon be expensive for some users. This is warning issued last week by Vitalik Buterin, the co-founder of Ethereum. According to tracker Etherscan.io, utilization of the Ether network has significantly increased to around 90%. Buterin indicated that as utilization grows, so do transaction costs, and that might deter corporate users from using Ethereum. Tether Replacing ICOs on Ethereum Network During the height of cryptocurrency, the digital game CryptoKitties was taking off and slowing down the Ethereum network immensely.…

Read More
Blockchain 

Tether to Launch Stablecoin Pegged to Chinese Yuan

Controversial crypto platform Tether is planning on launching a Chinese Yuan-pegged stablecoin, according to reports in China today. Tether’s Fourth Stablecoin The stablecoin, which will be known as CNHT, will be the fourth stablecoin in Tether’s portfolio after ones backed to the US dollar (USDT), Euro (EURT) and the Japanese Yen (JPYT). The company’s plans were revealed by Zhao Dong, a shareholder in Bitfinex, which shares the same senior personnel as Tether, via Chinese social media platform WeChat. Dong also said that his peer-to-peer crypto lending company, RenrenBit, will support…

Read More
Blockchain 

Tether (USDT) to Begin Running on BlockStream’s Liquid Sidechain

In the past, Tether (USDT) has been operating on Bitcoin’s Omni Layer, but it now seems like the stablecoin is expanding to other blockchain protocols. According to an announcement made on July 29, Tether has begun running on BlockStream’s Liquid Network, which is a Bitcoin sidechain blockchain. Tether is on the Liquid Network The addition of the stablecoin to Liquid Network’s sidechain was unveiled in October last year, and it aimed to provide traders and firms extra features that were not available through the original Tether platform. Traders will have access…

Read More
Blockchain 

Tether (USDT) Surpasses Bitcoin for Exchange Activity

Tether (USDT) popularity has hit an all-time high in the cryptocurrency sector. The stablecoin is now the most traded virtual currency, accounting for 32% of trading activities in crypto exchanges. Bitcoin (BTC) held the mantle due to the multiple base pairs in use but not anymore. BTC currently accounts for about 30% of exchange activity. Growing Tether Popularity Increased exchange activity follows many altcoins acquiring a USDT market, a development that has continued to boost the flow of the stablecoin in exchanges. As it stands, Tether is the fastest growing…

Read More
Blockchain 

Tether (USDT) Accidentally Creates $5 Billion in Crypto

Stable coins, which are backed by fiat currency, have become an integral part of the crypto ecosystem over the past couple of years, and in that regard, Tether (USDT) is possibly the most well known. However, the very fact that it is backed by fiat makes it possible for it to be prone to certain errors, and that is exactly what happened yesterday when the team behind USDT made a mistake that had an effect on the wider crypto market for some time. Administrative Error In an astonishing development, the…

Read More