Is Tether Pumping The Price Of Bitcoin?
There is a lot of noise about the legitimacy of the stablecoin Tether (USDT), with claims of “pumping the price of bitcoin” being made.The below is from a recent edition of the Deep Dive, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.There has been a lot of noise made in recent weeks, months and years about the impact of stablecoins on the bitcoin (and more broadly, the crypto) market. In aggregate, the total global supply of stablecoins continues to grow and....
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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 […]
On Monday, the stablecoin issuer Tether Operations Limited announced that the stablecoin tether is now supported by the Near blockchain network. Following a number of recent implementations, Near will be the 14th blockchain network that hosts the largest stablecoin by market capitalization. Tether Connects With the Near Protocol Tether has revealed that tether (USDT) is now supported by the Near (NEAR) network, a smart contract blockchain system launched in April 2020. Near’s market valuation makes it the tenth largest smart contract token by market cap, and the 25th out of all....
US-based digital currency exchange Bitfinex is integrating Tether into its system. Tether claims to be the first real-world currency platform built on the bitcoin blockchain. The currency is allowing Bitfinex users to fund and withdraw money from US accounts without the aid of traditional banking institutions. Tether is currently available on both the withdrawal and deposit pages of Bitfinex. A spokesman for the exchange commented: "We see Tether as a significant optimization for the problems that plague Bitcoin traders and exchanges when interfacing with the traditional banking system.......
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 […]
Amid the market fluctuations on Thursday, data shows the stablecoin tether temporarily tapped a low of $0.961 per unit. Tether’s market fluctuations have affected the decentralized finance (defi) protocol Curve’s 3pool, as the stablecoin pool has become unbalanced Thursday morning. Furthermore, at 9:35 a.m., a report disclosed that Tether has frozen more than 46 million tethers at the request of law enforcement. **Editor’s Note: This article’s last paragraph was updated on Nov. 10, 2022, at 3:10 p.m. (ET) to reflect a comment from a Tether spokesperson. Tether....