NYAG: Bitfinex, Tether Served New York Residents Longer Than They Claim

The New York Attorney General’s Office (NYAG) has submitted new evidence in its aim to prove that crypto exchange Bitfinex and Tether had served New York customers longer than they claimed. As part of the NYAG’s ongoing investigation into Bitfinex and Tether, the NYAG filed a Memorandum of Law in Opposition, an affirmation, as well […]

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Paxos to Issue Up to $100 Million of Stablecoins on Ontology Blockchain

Stablecoin issuer Paxos will partner with Ontology to issue up to 100 million of its PAX tokens, pegged 1:1 to the U.S. dollar, on the latter’s blockchain network starting from next month. The launch will make it easier for individuals and businesses using Ontology’s ONT token to transact in fiat-pegged tokens, Ontology announced Friday. Paxos […]

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Tether to Launch New Version of USDT Stablecoin on Tron Blockchain

Tether is gearing up to launch its controversial stablecoin as a native token on the Tron blockchain. For the effort, Tether is partnering with the Tron Foundation to launch the dollar-pegged USDT stablecoin as a TRC-20 token, the companies announced Monday. TRC-20 is a technical standard used by the Tron blockchain for implementing tokens, similar to and […]

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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 […]

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Tether Says Customers Can Once Again Deposit and Redeem Fiat

Tether Ltd., the controversial issuer of the tether stablecoin (USDT), which aims for parity with the U.S. dollar, announced Tuesday that it would reopen account verification for new customers and enable customers to redeem tether for fiat currency directly through its platform. “Tether is able to return to its original vision of having a wallet […]

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