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“As to the Tether reserves, there is no finding that tether tokens were not fully backed at all times—simply that the reserves were not all in cash and all in a bank account titled in Tether’s name, at all times. As Tether represented in the Order, it has always maintained
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The come-up of the FTX cryptocurrency exchange has been one of the most inspiring stories out of the crypto space. Its success put its CEO Sam Bankman-Friend on the path to become one of the richest crypto billionaires. The 29-year-old was featured on the Forbes 2021 List of 400 Richest
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Tether (USDT), the largest stablecoin issuer by market capitalization, has refuted the details of a Bloomberg story on its reserves holdings.In a Thursday report, Bloomberg journalist Zeke Faux made numerous claims against Tether, including that its chief financial officer Giancarlo Devasini has used the company’s reserves to make investments, that
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Iceland also, the new book makes clear, had it coming. Far from victims of forces beyond their control, Iceland’s bankers, enabled by a neoliberal government, crafted a brazen fraud whose endpoint was practically inevitable. Bibler saw this firsthand: He eventually wound up working at the FME, Iceland’s financial regulator, as
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The leader in news and information on cryptocurrency, digital assets and the future of money, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CryptoX is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies
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Cardano has begun another rally that has positioned it comfortably above $2. This recent change comes after the digital asset had taken a beating down over the past few weeks that has placed it in a continuous downtrend. Cardano was not isolated in this as the broader crypto market had
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The judge in the class-action lawsuit filed in the Southern District of New York against stablecoin issuer Tether and crypto exchange Bitfinex has granted motions to dismiss many of the claims in the case.According to court documents filed Tuesday in the Southern District of New York, District Judge Katherine Polk
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On September 24, the staff writer for The New Republic, Jacob Silverman, tweeted about a Freedom of Information Act (FOIA) request he filed that was ultimately denied. On the social media platform, Silverman wrote that he got Securities and Exchange Commission (SEC) responses to his FOIA requests and said the
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“Tether’s competitive advantage, and the area of highest competition between stablecoin platforms, lies not in the operational features of the tether token itself but rather in the liquidity of the tokens in the marketplace, Tether’s presence on multiple blockchains, and the stability, reliability, and profitability of Tether as an entity,”
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Tether Holdings Ltd, the issuer of the largest stablecoin, USDt, reported that its total market capitalization had crossed over $64 billion for the first time in history.The company called the event a "milestone," adding that it is another indication of the cryptocurrency market's "continued trust and confidence" in their stablecoin,
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