July 27, 2021 / Unchained Daily / Laura Shin Daily Bits...
As reported by Bloomberg on Monday, executives at the helm of the biggest stablecoin in the market are facing a probe by the Department of Justice (DOJ). DOJ is searching through Tether’s old records and "scrutinizing whether Tether concealed from banks that transactions were linked to crypto”, the report said.
The company behind the Tether stablecoin has responded to a Bloomberg article that claimed there was a probe into executives that may have committed bank fraud. On July 26, Bloomberg ran an article claiming that a U.S. probe into Tether is focusing on whether company executives committed bank fraud, adding “a potential criminal case that would have broad implications for the cryptocurrency market.”...
Per a Bloomberg report, executives from Tether Limited, the company behind stablecoin USDT, could face a criminal probe for alleged bank fraud. The investigation is currently...
Tether, the stable coin issuer might be in trouble again as the US Department of Justice (DOJ) has initiated a probe to investigate whether the executives of the company were involved in bank fraud. *TETHER EXECUTIVES SAID TO FACE CRIMINAL PROBE INTO BANK FRAUD -- *Walter Bloomberg (@DeItaone) July 26, 2021 The investigation by the The post Breaking: US DOJ set to investigate...
Reading Time: 2 minutes Circle has produced the 33rd transparency report for its USDC stablecoin Each USDC is currently backed 61% by cash and cash equivalents, compared to Tether’s 3.87% Circle’s 33rd transparency report comes two months after Tether was forced to...
Tether issued USDT is the biggest stablecoin player in the market with $61.9 billion in market cap. The top stablecoin has been often associated with Bitcoin (BTC) price boost FUDs in the past. The ongoing bearish market sentiments that have continued since May market mayhem also coincides with USDT's non-issuance. The last market issuance of The post Why Tether (USDT) hasn't issued any...
How embarrassing! As more details about JPMorgan ’s “The Bitcoinization of El Salvador” report come to light, the reality of the situation settles. Traditional organizations don’t have a clue that the Lightning Network exists and is up and running. More so, Bitcoin is legal tender in El Salvador because and only because El Zonte is a living and breathing example of the Lightning...
Reading Time: 2 minutes Tether has advertised for a ‘reputation manager’ to work on improving the company’s appeal Tether has come in for huge criticism over the way its tokens are backed Tether’s market cap is $62.3 billion with less than 4% being cash Tether...
July 2, 2021 / Unchained Daily / Laura Shin Daily Bits...
The stablecoin of Tether (USDT) now has its very own Twitter emoji Tether (USDT) joins Bitcoin, Tron, Binance Coin and Crypto.com Coin with the new feature The supply of Tether (USDT) is showing signs of entering a plateau phase as demand for stablecoins slows down with a weakened crypto market The stablecoin of Tether (USDT) now has its very own Twitter emoji. This...
How Lightning Network startup Strike went from using USDT in El Salvador to helping the country build financial infrastructure with Bitcoin.When El Salvador passed a law making bitcoin legal tender in the country, it did not just set itself on a path to add the payment option to existing infrastructure. It provided regulatory clarity that allowed an existing Bitcoin-forward platform to better...
The crypto market is currently in a consolidation phase as bearish sentiments are dominant ever since last month's market correction. Over the past 24-hours, the crypto market has lost 4% of its market cap which dipped below $1.5 trillion for a...
The Bitcoin bull market this season is currently undergoing through 'FUD- Phase' where a series of FUDs have hit the market one after the other, many of which has already been debunked. After Bitcoin mining...
It has become a routine to see a crypto market crash every now and then. Thanks to many events that happened lately, we currently witness a strong market crash. Many traders and investors sit on the sideline, waiting for the storm to end. The saying usually...
Stablecoins that alter their supply to maintain their value are struggling to keep up with volatile markets.
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