Altcoin News Cryptocurrency News Tether 

Oops! Tether ‘Accidentally’ Created $5 Billion in Crypto Out of Thin Air

Due to human error and fat fingers, Tether accidentally printed $5 billion of its fiat-pegged cryptocurrency out of thin air. Oops. The mistake occurred when the Tether team was in the process of moving tokens from the Omni Layer to the Tron blockchain. What was meant to be a $50 million transfer became $5 billion after someone misplaced a decimal point. Tether Accidentally Printed 5 Billion Tokens – Here’s What Happened Next Crypto exchange Poloniex clarified that the problem occurred after it requested Tether’s assistance to conduct a token swap….

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Altcoin News Bitcoin Exchange coinbase Crypto Stablecoins Tether USDC usdt 

Coinbase Goes for Tether’s Throat, Catapults USD Coin Into 85 Countries

By CCN: Given the widely publicized troubles faced by Tether (USDT), there is a massive opportunity for a competitor to wade into the stablecoin arena. It appears that Coinbase will be that adversary, as the crypto exchange is taking the opportunity to double down on USDT’s problems and expand USD Coin (USDC) trading into 85 countries. USDT is the result of a collaboration between Coinbase and Jeremy Allaire’s Circle. According to the Coinbase website, the exchange does not support USDT. Coinbase Is Going All in With USDC Expansion It’s an…

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bitcoin Bitcoin Crime Bitcoin Exchange bitfinex Crypto Tether 

$850 Million Bitfinex Bombshell Disproves Crazy Bitcoin Conspiracy

By CCN: ShapeShift CEO Erik Voorhees made a valid observation on Twitter today, pointing out that there’s some degree of irony in the charges potentially facing embattled Bitcoin exchange Bitfinex: Tether had the cash reserves, despite wide speculation that the company had issued far more crypto tokens than it could settle. Ironically, this latest Bitfinex drama may be the one thing that disproves the “Bitfinex’ed” conspiracy theory. If USD in that amount was seized/stolen/held by Crypto Capital, then the USD backing Tether DID actually exist after all. @Bitfinexed claim was…

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Crypto Guest Contributor International Monetary Fund Tether 

We Can’t Count on Fiat Forever

Get Exclusive Analysis and Investing Ideas of Future Assets on Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. Get Exclusive Analysis and Investing Ideas of Future Assets on Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. At I write this, one dollar is worth .89 Euros, 110.8 Japanese Yen, and .77 British Pounds, but the exchange rates are likely to be different tomorrow, or even in…

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Bitcoin Exchange bitfinex Stablecoins Tether usdt 

Bearish on Tether? Bitfinex Adds USDT Margin Trading

Tether Crypto trading platform Bitfinex has announced the opening of a margin trading service for the USDT/USD trading pair. According to the platform, the aim of the new service is to improve its stablecoin offering so as to remain consistent with market evolution and user demand. With immediate effect, traders will be able to carry out leveraged trades for the trading pair, which means that they will be able to borrow money from the platform to exchange USD and USDT. After this activation, Bitfinex also plans to enable margin trading for…

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Altcoin News Bloomberg Stablecoins Tether usdt 

Stablecoin Company Tether Ltd. Made $6.6 Million in Interest from January to July 2018, Report Does Not Confirm Full Cash Reserves

An investigative report by Bloomberg News has revealed that Tether makes a substantial amount of interest on its US Dollar reserves. The US Dollar reserves are kept in banks across several jurisdictions including Canada, the Bahamas and Puerto Rico. According to bank statements seen by Bloomberg, Tether earned at least $6.6 million in interest between January 2018 and July 2018, which potentially raises a question about whether Tether’s operating practices should benefit the company more than its users. The report further reveals that while Tether may in fact have the cash reserves…

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Altcoin Analysis Binance bitfinex Op-ed stablecoin Tether 

Is Tether Trying to Price Itself out of the Stablecoin Wars?

Bitfinex recently moved toward “Tether neutrality,” breaking its special bond with Tether (wherein it was the most reliable way to redeem USDT for USD) and in turn, Tether, with nearly $2 billion it outstanding units, had to re-establish direct redemption for USDT holders to USD. Those still wanting to use the Bitfinex method will have to trade at normal rates, which are frequently not-quite-pegged to the dollar. Source: CoinMarketCap Well, fine. But here’s the problem: Tether’s fees and limits are sort of outrageous, especially compared to its much more recent…

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Altcoin Analysis Altcoin News Altcoin Prices dash Tether 

Dash Surges 13% as Tether Boosts Volume, Payment Service Launched

Twitter Facebook LinkedIn Dash on Sunday surged as much as 13 percent against the US Dollar as supposed stablecoin tether (USDT) lost over 4 percent of its value. The DASH/USD pair closed yesterday at 155.90-fiat while continuing to its slow upside momentum. Today’s Asian session witnessed the pair erasing its recent gains and forming intraday lows towards 152.78-fiat. The green candles began appearing after that, constructing a smooth uptrend in which traders entered longs on higher high formations. It went on until the DASH/USD pair established an intraday high at…

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Binance bitcoin Bitcoin Analysis fidelity Morgan Stanley stablecoin Tether 

Bitcoin is a New Institutional Investment Class

Twitter Facebook LinkedIn There is a rapidly growing interest in bitcoin and other cryptocurrencies among institutional investors while there seems to be lethargy in the number of retail buyers operating within the space. As such, bitcoin and altcoins now constitute a new institutional investment class since 2017, according to new research from major US bank Morgan Stanley. In the report titled “Bitcoin Decrypted: A Brief Teach-in and Implications” and dated Oct. 31, the multinational investment bank’s research department gave an overview of the last six months of bitcoin and brought…

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Altcoin News Exchanges huobi HUSD stablecoin Tether 

One Coin to Rule Them All? Huobi Lets Users Swap Between Stablecoins

Singapore-based cryptocurrency exchange Huobi Global today introduced an all-in-one stablecoin program called HUSD, which will allow traders to convert between four USD-pegged cryptocurrency tokens. HUSD: Huobi’s All-in-One Stablecoin Solution According to the announcement, the HUSD solution aims to reduce the need to choose between multiple stablecoins, as well as to cut down transaction costs incurred when switching between these USD-pegged assets. It does so by automatically converting all stablecoin deposits on Huobi’s platform to its newly-launched HUSD “token,” which is native to the exchange and cannot be withdrawn. This platform…

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