China Dominates Stablecoin Crypto Appetite with Over 50% of Trading

By CCN: Chinese trading and stablecoin volume account for over half of the transactions sent and received by known parties, in the entire world, according to the latest issue of Diar. China Dominates Global Tether, Crypto Trading Trends Previous research showed certain Western countries far in the lead as far as Bitcoin exchange transaction volume. …

‘Trustworthy’ Bitcoin Exchange That Hid $850 Million Loss Raises $1 Billion

By CCN: Bitfinex CTO Paolo Ardoino told Twitter that the firm was able to raise $1 billion in USDT within a short period because big investors know Bitfinex is “trustworthy.” Trust, Don’t Verify The New York Attorney General’s office recently opened a very public investigation into the firm. They allege much to the contrary. 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 …

Tether’s Market Cap Has Dropped by More than $1 Billion in October

Twitter Facebook Tether (USDT), the embattled cryptocurrency token whose value is purportedly backed by US dollars, continues to see massive outflows as it struggles to maintain USD parity amid rising competition from other stablecoins launched by some of the crypto industry’s biggest names. Blockchain data from Omni Explorer shows that yesterday, on Oct. 30, Tether …

Lack of Transparency to Blame for Tether’s Loss of USD Peg: Novogratz

Five days since losing its U.S. dollar peg, fiat-backed cryptocurrency tether (USDT) continues to trade at a discount to its supposed $1.00 valuation. Defenders have largely chalked up the markdown to FUD, arguing that supporters of other “stablecoins” are launching a coordinated assault on tether, which has long dominated this market niche. However, billionaire investor …