Weekly Pizza Bits #3 - 11-Mar-2023
11 Mar 2023 5 minute read 0 comments Pizzadren
Tether (USDT)
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Tether (USDT), launched in 2014 as a rebranding of RealCoin, is a stablecoin pegged to the United States Dollar. Like all stablecoins, it is used by investors to combat the volatility of the market.
There are approximately 4 billion Tether tokens in circulation. Pegged on a 1:1 basis with the US Dollar, with 1 token being equivalent to 1 dollar, this means that Tether must back the entire supply with fiat or other assets - which has been the subject of a lot of attention.
Most recently, the New York Attorney General’s Office officially subpoenaed parent company iFinex, and alleged that Bitfinex and Tether were involved in covering $850 million in losses. The two entities vehemently opposed this, but the case is ongoing. Tether has long claimed that its reserves fully back all of the tokens in circulation.
Tether is closely associated with Hong Kong-based exchange Bitfinex. Bitfinex integrated Tether into the exchange in 2015, with management mostly being the same across the two entities.
Tether claims that its supplies are 100% backed by traditional currency, cash equivalents, and “from time to time may include other assets and receivables from loans made by Tether to third parties.”
Tether, being a stablecoin, does not have much in the way of development in the near future. However, as a part of the stablecoin niche, it is competing with several other similar tokens. Stablecoins are a widely remarked upon trend in the market, as many find the stability a good way to overcome the volatile prices when trading.
Disaster Bingo: Tether, is Circle Industry's enemy?
8 Mar 2023 2 minute read 0 comments CrSanity
The FTX light switch was flipped, rest of the insanity falls just like a domino. If you missed crypto news or didn't connect the dots, Stablecoins are burning. SEC's attempt to furthermore destroy confidence in them by attacking Binances BUSD did not...
Report Claims Tether Used False Documents to Open Bank Accounts
8 Mar 2023 2 minute read 12 comments ZeroRequiem
Hey Peeps! On March 3rd, the Wall Street Journal published a bombshell report that claims the crypto companies backing Tether (USDT), the largest stablecoin in the world, used "shadowy intermediaries, falsified documents and shell companies" to...
Tether strengthens amid BUSD's collapse
7 Mar 2023 1 minute read 1 comment Stormgain
US regulators started 2023 off by tightening conditions for the cryptocurrency market. In February, for example, the cryptocurrency exchange Kraken received a pre-enforcement action notification for providing staking services, as did Paxos, which is...
All eyes are on USDC-USDT, but no one talks about these stablecoins?!
7 Mar 2023 4 minute read 3 comments Krzamake
Do we all know what are stablecoins?! By its definition, stablecoins are a special class of digital currency that are created by private companies and transferred using blockchain and distributed ledger technology. Stablecoins are typically anchored...
Three simple steps to stably earn 7.44% APY
6 Mar 2023 3 minute read 0 comments BlockChain Observer
I shared a popular tutorial on how to earn KCS without risks through DeFi projects on KCC. Recently, with the down-treading market environment, like everyone else, I am also interested in earning a safe and stable income. Therefore, I have found anot...
Crypto Should Get Back to Its Roots to Break Free from Traditional Finance – An Interview with CTO of Tether Paolo Ardoino
4 Mar 2023 15 minute read 2 comments Mike Ermolaev
As part of “Crypto Opinion with Mike Ermolaev”, an ongoing series that interviews prominent figures in the crypto scene, Mike sat down with CTO of Tether Paolo Ardoino to discuss the world’s largest stablecoin's resilience throughout 2022, Tether's c...
How To Find Pumping Coins In A Bear Market
3 Mar 2023 2 minute read 2 comments Bfab
You have all noticed that today crypto market is bearish. One of the reasons is due to the situation of Silvergate. By the way, it could be useful to look at the links they have with USDC and USDT... Just imagine these links are tight, it might creat...
Earn crypto (usdt) with wolt app (app guide)
28 Feb 2023 1 minute read 0 comments MuGen
You can use this link to win your tips or become a new writer in Publish0x Description of wolt app: wolt is a platform where u can earn USDT by getting daily orders How wolt works ?: With wolt you will earn a commision for each order you get, th...
USDT Overview: How to Pay and Which Network to Choose?
16 Feb 2023 6 minute read 0 comments NOWPayments
Accept USDT payments The stablecoin market features dozens of worthy options, but USDT still reigns as the most popular of them all. One of the reasons why USDT is so successful is the fact that it is available on multiple blockchains. The flexib...
