Tag: tether (usdt)

Nov 27 2020

Tether’s (USDT) Market Cap Grew By $1B in 9 Days to Reach $19B

Quick take: Tether's market cap is now at $19 Billion It took 9 days for its market cap to gain from $18 Billion to $19 Billion Early 2020 found its market cap at $4 Billion and an increment of $1 Billion took close to a month XRP has regained its number 3 spot but Tether could once again reclaim the spot Tether could...

Oct 24 2020

Bitfinex CTO: Tether (USDT) is Registered with FinCEN and Regulated

Summary: Bitfinex CTO and Tether CTO, Paolo Ardoino, has clarified that Tether (USDT) is indeed regulated Mr. Ardoino announced via Twitter that Tether was also registered with FinCEN His comments come after Tether competitors have been using the 'regulation' card to gain favor with users Tether recently hit $16 Billion in market capitalization There has been a long-held belief that the popular stablecoin...

Oct 09 2020

Report: Expect Ethereum To Lose the #2 Spot to Tether (USDT) in 2021

Quick take: The team at Bloomberg has predicted that Ethereum could lose the number 2 spot to Tether (USDT) by next year Increasing demand and adoption of stablecoins is the major force behind Tether's rise Stablecoins are a precursor of CBDCs and will most likely be more enduring than altcoins Ethereum has had a relatively stagnant market cap since 2017 when compared to...

Sep 27 2020

Ethereum Projects Continue to Freeze Tokens Affected by KuCoin Hack

Quick take: Multiple Ethereum based projects affected by the KuCoin have intervened Some have frozen their ERC20 tokens with others initiating hardforks The KuCoin hack amount has increased to $203 Million and could continue climbing Almost immediately after the KuCoin hack, the team at Tether announced that it had frozen a total of $33 Million USDT stolen from the exchange. Of this amount,...

Bitfinex CTO: Tether is Not Bitcoin (BTC), USDT is Centralized

In brief: Bitfinex and Tether CTO, Paolo Ardoino, has reiterated Tether is a centralized stablecoin This comes after crypto enthusiasts questions the decision to freeze $33M in USDT from the KuCoin hack Tether also froze $1M USDT on Omni and another $1M USDT on Tron The exchange had also rescued another $1M lost to a DeFi smart contract The CTO of both Bitfinex...

Sep 26 2020

Bitfinex and Tether Freeze $33M USDT from KuCoin Hack

Quick take: Bitfinex CTO, Paolo Ardoino, has notified crypto twitter of the freezing of $33M Tether related to the KuCoin hack Bitfinex has frozen $13 Million Tether (USDT) on EOS Tether has frozen $20 Million USDT on Ethereum Binance has pledged its support in the recovery efforts of funds from the hack KuCoin has offered a $100,000 reward for vital information related to...

Sep 25 2020

Weiss Ratings: Avoid Exposure to Tether (USDT)

In brief: The team at Weiss Ratings has cautioned investors against using Tether (USDT) They cite that USDT is not 100% backed by fiat and Tether is running like a fractional reserve bank They recommend USDC which is subject to constant audits and 100% backed DAI is also an alternative given its transparency via smart contracts The team at Weiss Ratings has provided...

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