By CCN Markets: The bitcoin price moved higher on new legal developments in the ongoing wranglings involving Bitfinex and Tether. On Monday, the New York Supreme Court ruled that the matter between the state’s Attorney General and iFinex can continue. It’s the parent company of the exchange Bitfinex. The ruling paves the path for the AG to continue its demands, which include forcing them to hand...
Remember that time that Justin Sun promised a loyal Tron fan a Tesla Model 3 but wound up awarding it to someone else? It’s not fair to mention that without mentioning that Sun later did give the lucky winner his automobile but only after community pressure led him to cave in. The Sun & Tron Effect Darkens Hope Now the Tron-USDT partnership is live and well. Basically, the whole Tron network...
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...
Facebook's Libra cryptocurrency whitepaper dropped this week, sending shockwaves through the Bitcoin and altcoin community. Is Libra the thing that pulls blockchain kicking and screaming into the mainstream, for the benefit of one and all? Or is it the final nail in the coffin of a cryptocurrency experiment just a decade old? Here are 10 key takeaways from the newly released Libra whitepaper. 1...
By CCN: According to Wei Zhou, the chief financial officer at Binance, the most widely utilized crypto asset trading platform in the global market, the exchange is planning to issue a stablecoin in the upcoming months, possibly to compete against Tether. Speaking to CCN, Zhou stated: “Our business decisions are made with our users in mind. The goal for issuing a GBP stablecoin is to provide users...
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. More in-depth research, which includes China...
By CCN: The New York Supreme Court has ruled that the scope of the Attorney General’s investigation into Bitfinex and Tether Limited is too broad and needs a time limit. Bitfinex: Supreme Court Ruling a "Victory" The embattled exchange called the ruling a “victory” and insinuates that the case will end up going nowhere. Bitfinex has already admitted that as much as $850 million evaporated from...
By CCN: Wall Street bitcoin traders clearly DGAF about the Tether/Bitfinex scandal. As crypto investment firm HASH CIB noted on Twitter, institutional traders were more bullish than ever last week, with no short positions taken on bitcoin in CME's BTC futures market. Wall Street Drops its Bitcoin Shorts 10/Last week Institutional Investors went all in on #bitcoin - no short positions taken.Other...