Blockchain 

Tether Introduces New Yuan-Linked Stablecoin, CNHT

The cryptocurrency space has had its fair share of controversies throughout the course of its short existence, and one of the biggest ones to date is the one related to stablecoins. There are plenty of stablecoins in circulation these days, but the most controversial one so far is Tether, and it is simply due to the fact that is it is the most popular one within this particular group of digital assets. Key Analysis The reason why many in the crypto space are suspicious of Tether and other stablecoins is…

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Blockchain 

Is Tether Taking Over the Ethereum Network? Buterin Warns of Issues

Processing transactions in the digital token Ether on the underlying blockchain could soon be expensive for some users. This is warning issued last week by Vitalik Buterin, the co-founder of Ethereum. According to tracker Etherscan.io, utilization of the Ether network has significantly increased to around 90%. Buterin indicated that as utilization grows, so do transaction costs, and that might deter corporate users from using Ethereum. Tether Replacing ICOs on Ethereum Network During the height of cryptocurrency, the digital game CryptoKitties was taking off and slowing down the Ethereum network immensely.…

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Blockchain 

Tether to Launch Stablecoin Pegged to Chinese Yuan

Controversial crypto platform Tether is planning on launching a Chinese Yuan-pegged stablecoin, according to reports in China today. Tether’s Fourth Stablecoin The stablecoin, which will be known as CNHT, will be the fourth stablecoin in Tether’s portfolio after ones backed to the US dollar (USDT), Euro (EURT) and the Japanese Yen (JPYT). The company’s plans were revealed by Zhao Dong, a shareholder in Bitfinex, which shares the same senior personnel as Tether, via Chinese social media platform WeChat. Dong also said that his peer-to-peer crypto lending company, RenrenBit, will support…

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Blockchain 

Tether (USDT) to Begin Running on BlockStream’s Liquid Sidechain

In the past, Tether (USDT) has been operating on Bitcoin’s Omni Layer, but it now seems like the stablecoin is expanding to other blockchain protocols. According to an announcement made on July 29, Tether has begun running on BlockStream’s Liquid Network, which is a Bitcoin sidechain blockchain. Tether is on the Liquid Network The addition of the stablecoin to Liquid Network’s sidechain was unveiled in October last year, and it aimed to provide traders and firms extra features that were not available through the original Tether platform. Traders will have access…

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Blockchain 

Tether (USDT) Surpasses Bitcoin for Exchange Activity

Tether (USDT) popularity has hit an all-time high in the cryptocurrency sector. The stablecoin is now the most traded virtual currency, accounting for 32% of trading activities in crypto exchanges. Bitcoin (BTC) held the mantle due to the multiple base pairs in use but not anymore. BTC currently accounts for about 30% of exchange activity. Growing Tether Popularity Increased exchange activity follows many altcoins acquiring a USDT market, a development that has continued to boost the flow of the stablecoin in exchanges. As it stands, Tether is the fastest growing…

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Blockchain 

Tether (USDT) Accidentally Creates $5 Billion in Crypto

Stable coins, which are backed by fiat currency, have become an integral part of the crypto ecosystem over the past couple of years, and in that regard, Tether (USDT) is possibly the most well known. However, the very fact that it is backed by fiat makes it possible for it to be prone to certain errors, and that is exactly what happened yesterday when the team behind USDT made a mistake that had an effect on the wider crypto market for some time. Administrative Error In an astonishing development, the…

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Blockchain 

Bitfinex Tether Issue Continues | CoinFlip and Tron Postpone Plans

Last week, news about the Bitfinex and Tether issue surfaced when The New York Attorney General’s office said it received a court order against iFinex, the company behind Bitfinex and Tether. While Bitfinex has issued a response to the claims made by the NYAG, the issue hasn’t gone away. If anything, things are worse. On Wednesday, CoinFlip announced it is going to postpone tether buying “until the smoke clears.” Here’s what we know. Bitfinex and Tether Issue Continues On April 25, NYAG Letitia James said her department is looking into…

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Blockchain 

Here’s What We Know About the Bitfinex and Tether Issue

On Thursday, April 25, reports surfaced that The New York Attorney General’s office is looking into Bitfinex. Specifically, NYAG Letitia James said she had received a court order against iFinex Inc., which is the company behind Bitfinex. The order told them to stop breaking New York law. Here’s what we know. The Bitfinex and Tether Issue: April 2019 According to reports, The New York Attorney General’s office is looking into iFinex. Why? Because the office alleges that Bitfinex lost more than $800 million. The crypto exchange then proceeded to use…

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