Bitfinex Executives Deny Allegations of Issuing USDT to Pump BTC –  “Tether B...

Bitfinex Executives Deny Allegations of Issuing USDT to Pump BTC – “Tether B...

Bitfinex general counsel Stuart Hoegner has dismissed the notion that only 74% of the tether stablecoin in circulation is fully backed. Hoegner insists the stablecoin is fully backed by assets that include cash, cash equivalents as well as bitcoin. However, both Hoegner and the company’s CTO Paolo Ardoino, are pushing back against the narrative that Bitfinex is engaged in a conspiracy to pump the price of bitcoin. The Loan to Bitfinex In an interview with Peter McCormack, the Bitfinex general counsel claims the misconception that USDT is not fully backed stem from a sworn affidavit....


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Almost half a billion USDT minted in past 36 hours as Bitcoin rallies

Of the 450 million new USDT tokens, more than 185 million have been distributed with 126.9 million USDT going to Binance alone The Tether (USDT) Treasury has minted almost half a billion new USDT tokens and distributed more than 185 million tokens to exchanges and other addresses in the last 36 hours. As shown by blockchain tracker Whale Alert, two transactions of 150 million and 300 million USDT tokens were minted on Oct 20 and Oct 21 respectively.The first 150 million was printed only hours before Paypal’s announcement and the Bitcoin (BTC) price rally that followed. Although some raised....

Tether's general counsel doubles down on support for Peter McCormack

“Tether supports Peter McCormack and believes he's in the right,” said Stuart Hoegner. Stuart Hoegner, general counsel for Tether and cryptocurrency exchange Bitfinex, is pushing back against claims the stablecoin operator has abandoned podcaster Peter McCormack in his lawsuit against Craig Wright, the Australian national claiming to be Satoshi Nakamoto.In an Oct. 24 tweet from Hoegner, the general counsel called a recent article from crypto media platform Coingeek which stated Tether had pulled funding from McCormack in his legal battle against Wright “a lie.” Coingeek is owned by Calvin....

Bitfinex CTO: Tether Is Registered and Regulated Under FinCEN- USDT Not Next ...

The CTO at Bitfinex Paolo Ardoino has pushed back against rumours that the company’s Tether stablecoin may be the next target of the U.S. Securities and Exchange Commission (SEC). The Bitfinex executive insists that the Tether stablecoin, whose market capitalization has now surpassed $20 billion, is a properly registered and regulated crypto. The Alleged Misinformation Campaign The CTO said while responding to rumours circulating on social media that the USDT stablecoin might fall into a predicament similar to that of Ripple’s XRP token. Immediately after the SEC filed to sue....

Leaked Data Outs Bitcoin Investment Company as Scam: Founders Deny the Allega...

A South African group calling itself “Anonymous ZA” has published fresh information that seemingly supports long-standing allegations that Mirror Trading International (MTI), an ostensible bitcoin investment company, is running a multi-level marketing scam. The new information, which was reportedly obtained after a breach of MTI internal systems, shows that the investment company is “entirely structured around a tree/pyramid scheme.” According to a report, the leaked data suggests that MTI has a practice of distinguishing between “normal members and founder....

Tether's market cap is growing at a near-record pace

The market cap of USDT swelled by 1 billion over nine days. The market cap of Tether (USDT), a U.S. dollar-pegged stablecoin, has surged in recent weeks, potentially helping to fuel the recent Bitcoin (BTC) rally that drove prices to near all-time highs. Paolo Ardoino, who serves as dual CTO to Bitfinex and Tether, tweeted Thursday that the supply of USDT increased by 1 billion over nine days, marking the second-fastest expansion in its history. The record was set on Sept. 4, 2020 when, over eight days, USDT's circulating supply increased by 1 billion. At press time, Tether had a market....