Bitfinex Secures $1 Billion From Private Investors

Bitfinex, the embattled cryptocurrency exchange, says it raised about one billion in USDT from private investors even amid accusations that the company and Tether covered up losses to the tune of $850 million. Bitfinex: Investors Trust us, We Need Not Brag Paolo Ardoino, the chief technology officer (CTO) of Bitfinex announced the news via a […]

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Who’s Backing Who? The Fallout Of The Bitfinex/Tether Debacle

A week after allegations of Bitfinex’s $850 million Tether ‘cover-up’ broke, the story is still dominating crypto-twitter. And although Binfinex challenges the claims, the ripples from the splash are already affecting both its business and Tether’s. The Story Bitfinex Wish Would Die For anyone who missed it, the New York Attorney General accused Bitfinex of […]

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Bitfinex Will Vigorously Challenge $850M Lost Tether ‘False Accusation’

Following the New York Attorney General’s accusations of a $850M cover-up by Bitfinex, the company has issued its response. Binfinex refutes the claims as ‘riddled with false assertions’ and that the funds are not lost.  The Cover-Up Claims According to the NY Attorney General’s claim, Bitfinex lost $850 million of customer money. This had been […]

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Tether’s New Terms of Service Spark Fractional Reserve Concerns

Popular stablecoin Tether has updated its  Terms of Service (TOS) on February 26th, once again raising questions over its dollar peg.  No One Does it Better Than Tether Tether 00 has regularly come under suspicion over its claims that it’s 1-to-1 backed by the US Dollar and that it has been used to manipulate Bitcoin […]

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‘Precursor of Price Going Up’: Tether Grants Another $250M in USDT Tokens

Controversial stablecoin Tether (USDT) has issued $250 million dollars worth of tokens — which Litecoin creator Charlie Lee sees as a bullish sign.   ‘Precursor of Price Going Up’ Tether has issued 250 million tokens (worth US$250) on June 25, according to Omni explorer. This follows its previous grant issued on May 18 of another $250 […]

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