Crypto Biz: You can’t stop the Tether FUD
This week's Crypto Biz newsletter: The Wall Street Journal questions Tether's business model; venture capitalists are scooping up crypto at rock bottom prices. In the world of crypto, FUD stands for fear, uncertainty and doubt. It’s often evoked intentionally to draw negative attention to a particular project or business. One of crypto’s most enduring legacies has been the constant FUD surrounding Tether, whose USDT stablecoin commands a market capitalization of nearly $68 billion. Whether intentional or not, The Wall Street Journal ran a story this week claiming that Tether was on the....
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New York regulators are forcing Tether to be fully transparent about its reserves, at the cost of not serving New York residents. Bitfinex and Tether settled with the New York Attorney General office in the landmark case against Tether. New York authorities alleged that Tether misrepresented the degree to which Tether (USDT) coins were backed by fiat collateral.The settlement requires Bitfinex and Tether to pay $18.5 million for damages to the New York State, as well as submit to periodic reporting of their reserves. The terms of the settlement mandate Bitfinex and Tether to report their....
The bad guys can’t stop Bitcoin, but Bitcoin can stop the bad guys.
Is this attack on Tether part of The Wall Street Journal’s general campaign against bitcoin and crypto? Or did the newspaper feel the impulse to get in on the Tether FUD action a few months too late? Did Tether competitors pay for this article or is it an organic piece of journalism? The WSJ article […]
This week was low on high-profile people news but high in community building and hard work. Everyone seems to be waiting to see where the chips fall before making any decisions. Except for the people of El Zonte, they can’t stop and won’t stop building. As the big September date approaches, we’ll see where everyone […]
Per a press release, the U.S. Commodity Futures Trading Commission (CFTC) has disclosed that their review on Tether Holding Limited and other associated companies has concluded. As a result, Tether has agreed to pay a $41 million fine. Related Reading | Breaking: Tether Executives Could Face Criminal Probe for Alleged Fraud The Commission concluded that Tether […]