TetherTether USDT news

A cryptocurrency backed by fiat currencies. It is 1 to 1 equivalent to the U.S. dollar
Price, 24h
1.00 USD / 0.00011458
0.20% / 0.19%
Volume, 24h
102,191,682 USD
0.00%
Marketcap
2,950,124,761 / 1.1%
Emission
Chart price/vol/NIS 7d
Asset details

World latest news

104 Addresses Hold 70% of Tether, Research Reveals

The ownership of tether (USDT) turns out to be quite concentrated. According to a recent report, a few addresses control the bulk of the stablecoin, which is widely used by bitcoin traders. The finding comes on top of fresh accusations of creating a bubble levied in a lawsuit against tether’s operators. That adds to the persistent critique that the coin isn’t backed one-to-one with U.S. dollars as previously claimed. Also read: Telegram Awaits Court Hearing on SEC Case Against Its Token Sale $2.8 Billion of USDT Held by a Handful Just 104 tether addresses hold 70% of the stablecoin’s circulating supply, according to an investigation conducted by blockchain intelligence company Intotheblock. Considering tether’s supply and its $1-dollar price, the fiat equivalent is over $2.8 billion. Such a small number of addresses controlling that large of share could be a cause of concern. The researchers have also confirmed tether’s high and fast turnover. In the last seven days alone, Intotheblock tweeted on Tuesday, the total volume of large transactions worth over $100,000 amounted to a staggering $2.4 billion. Besides, the average period a USDT token is held is only 17.8 days, the company pointed out. Let’s talk about #Tether and provide you with a few onchain fundamentals: – There are 104 addresses that control 70% of the circulating supply – In the last 7 days, the total volume of large transactions (greater than $100k) was $2.4b – The avg the token is held: 17.8 days — intotheblock (@intotheblock) October 15, 2019 High wealth concentration is a phenomenon observed with decentralized cryptocurrencies as well. A tweet from Glassnode, another onchain data provider, highlighted an ongoing trend: the number of bitcoin core whale addresses is growing. Those holding over 1,000 BTC have increased by 500 in a year, reaching a high of almost 2,100. Various studies have noted the wealth disparity in the crypto space with one recent piece of research claiming that around 2% of BTC addresses control approximately 80% percent of the cryptocurrency. And a report published earlier this year by digital asset market analysis firm Delphi Digital stated that only 7,500 ETH wallets hold 80% of ethereum’s circulating supply. Number of #Bitcoin addresses holding more than 1000 $BTC 👀 pic.twitter.com/SGdBXrob5e — glassnode (@glassnode) October 11, 2019 Tether’s Volume Exceeds BTC’s by a Margin Tether and the entities associated with it, the issuer Tether Limited and crypto exchange Bitfinex, have been attacked by the crypto community for various reasons. One of them has to do with doubts that each token is backed with $1 USD. Adding oil to the fire recently, Tether’s cofounder William Quigley stated controversially in an interview with Bloomberg that “Whether or not Tether was backed by the dollar actually wouldn’t matter if everybody agreed to take Tether and to value them at a dollar themselves.” Earlier this year, Bitfinex was accused by the New York Attorney General of using Tether’s funds to cover up $850 million missing since the middle of 2018. And in the beginning of October, a class action lawsuit against the operators of Tether and Bitfinex was filed in New York accusing them of managing a scheme to defraud investors, manipulate markets, and conceal illicit proceeds. As news.Botcoin.com reported, the lawsuit claims Tether created “the largest bubble in human history” and caused damages for over a trillion dollars. Regardless of one’s attitude towards tether and despite the controversies around it, the coin’s importance in cryptocurrency trade has grown tremendously. A quick look at markets.Bitcoin.com shows that its 24-hour volume, $19.35 billion at the time of writing, exceeds that of bitcoin core (BTC), $15.74 billion, the crypto with the largest capitalization. Tether’s circulating supply is currently over 4.1 billion USDT. What’s your opinion about the wealth concentration observed with tether and in the crypto space in general? Share your thoughts on the subject in the comments section below. Images courtesy of Shutterstock. Do you need a reliable bitcoin mobile wallet to send, receive, and store your coins? Download one for free from us and then head to our Purchase Bitcoin page where you can quickly buy bitcoin with a credit card. The post 104 Addresses Hold 70% of Tether, Research Reveals appeared first on Bitcoin News.
Bitcoin News

Tron-issued USDT stablecoin now the 5th largest in the market

Tron is presently lacking any significant relevancy in the market, something reflected by Google Trends which revealed that Tron had declined to a search index score of only 36 over the last week after registering a complete score of 100 in the 2nd week of January, 2019. However, it’s in the news again after in […] The post Tron-issued USDT stablecoin now the 5th largest in the market appeared first on AMBCrypto.
AMBCrypto

Tether behind 99% of Bitcoin spot trading in China for first half of 2019

Tether, the stablecoin with the industry’s largest market cap and volume, has had its fair share of controversies this year. However, despite these concerns and the regulatory hurdles Tether is facing right now, countries like China are recording massive crypto-activity with regards to Tether. Over-the-counter trading in China has significantly surged over the last few […] The post Tether behind 99% of Bitcoin spot trading in China for first half of 2019 appeared first on AMBCrypto.
AMBCrypto

Tether’s Market Cap Explodes, Asian OTC Trading Up 52% In The Last 12 Months

Is bitcoin price ready for yet another spike? Looks like it! Tether has printed another 2.5 million USDT, this time on Tron blockchain. Earlier this year, Tron announced support for a native USDT stablecoin on its network. And in Q2, Tether officially started minting USDT on Tron blockchain. On Oct. 14, Tether printed 2.5 million […]
Bitcoin Exchange Guide

CipherTrace adds support for over 700 crypto assets, including bitcoin cash, ether and tether

Blockchain analytics firm CipherTrace has added support for over 700 digital assets, including bitcoin cash (BCH), ether (ETH), litecoin (LTC) and stablecoin tether (USDT), to its platform. The move means CipherTrace’s clients, such as cryptocurrency exchanges and financial institutions, will now be able to trace these coins for potential money laundering risks. CipherTrace has already been supporting bitcoin (BTC) on its platform, and now with these additions, it claims to be covering over 87% of the top 100 cryptocurrencies by trading volume, including hundreds of ERC-20 tokens. “Bitcoin takes center stage in financial crime investigations[...] Still, billions of dollars move through alt-coins daily,” said Pamela Clegg, head of financial investigations at CipherTrace, adding: “To close cryptocurrency money laundering gaps, we must expose more of the true number of illicit transactions that occur across the entire ecosystem. This platform expansion does just that by providing regulators, exchanges, and investors visibility into more than 87 percent of the virtual asset market trading volume.” CipherTrace CTO Shannon Holland said that adding support for hundreds of altcoins was not an easy task. “It has taken intense work and technological breakthroughs over the last four years, as well as collaboration with regulators and financial investigators.” Holland added that the firm will continue to add more tokens, stablecoins, and blockchains in the “coming months,” without disclosing specific details. It is also not clear whether the support for XRP has been included in CipherTrace’s platform. The Block has reached out to the firm and will update this story if a reply is received.
The Block Crypto
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Tether (USDT) news by Finrazor

ESSENTIAL

OTC & Media Activity

Finrazor together with ICORating conducted researches and checked the correlation between OTC and mentions of certain words and the originality of the news

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DIGEST

Tether destroyed 500 million USDT, Swissquote allows ICO participation, Coinbase added its first stablecoin, IDEX to block NY users, Vertex Ventures invests in Binance, the biggest crypto theft in Australia, Sony creates contactless hardware wallet, Japanese crypto exchanges got a self-regulatory status, Bitcoin Futures still lack volume — in this weekly news

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ESSENTIAL

Stablecoins Explained

What are stablecoins (fiat-collateralized like USDT, crypto-collateralized, and non-collateralized ones), and problems they are named to solve: basic guide and examples

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ESSENTIAL

Here is an overview of the mechanics of cryptocurrency trading, the disclosure of useful terms used to describe market conditions, such as bearish and bullish, long and short positions and etc., as well as the explanation of different types of trading.

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Bank of Canada Exploring Possibility of Launching a Digital Currency

Bank of Canada, the Canadian central bank, is exploring the possibility of launching a digital currency that would replace cash and track how people spend their money. The aim of the proposed currency would be to mitigate the “direct threat” posed by cryptocurrencies to the economic sovereignty of governments and central banks, an issue that has featured prominently in the headlines recently amidst intense regulatory pushback on Facebook’s proposed coin, Libra. The proposal was pitched to Stephen Poloz, Governor of the Bank of Canada, and its board of directors in a presentation entitled “Central Bank Money: ... ﾿ Read The Full Article On CryptoCurrencyNews.com Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges. All content provided by Crypto Currency News is subject to our Terms Of Use and Disclaimer.
Crypto Currency News

Bermuda Kicks Off Natural Blockchain I.D System Development With Shyft Network

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Bitcoin Exchange Guide

Brave Blockchain and Privacy Browser Scores 8 Million Active Monthly Users

Blockchain-powered privacy web browser, Brave, has just announced in an official blog post that the browser now has 8 million active users who use it monthly and a daily user mark of 2.8 million. The platform’s growth has been quite commendable and is slowly increasing in popularity, gearing up its head to compete with other bigger browsers. The Brave platform now also has 290,000 Brave Verified Publishers, who earn Brave’s Basic Attention Tokens (BAT) as payments for the content they produce and make available. Of this number, the announcement states that 15,000 are Twitch streamers with 33,000 website publishers and creators and a whopping 200,000 content creators on YouTube. Two months ago, Brave began allowing Twitter users to tip other accounts that post interesting content, using BAT. Since inception, 28,000 users have now signed up for this service and are free to tip and receive as well. The Brave team is heavily focused on putting control in the hands of content creators and eliminating the middlemen as much as possible. For a long time, major ad services companies like Google and Facebook, have not only been profiting too much off users’ contents but seem to unnecessarily tracking ad and user activity. Since the Brave platform is powered by blockchain technology, there is little to no chance that there will be any unnecessary tracking. Brave also incentivizes its users to watch ads on the platform and pays these viewers in BAT. The Brave Ads platform is an opt-in service that was officially launched back in April and according to design, users are paid 70% of revenue from the ads just for viewing them. Today, there have been 385 successful campaigns on the platform. Furthermore, Brave also reports that its platform engagement has hit an impressive 14% click-through rate, much higher than the industry average of 2%. The post Brave Blockchain and Privacy Browser Scores 8 Million Active Monthly Users appeared first on ZyCrypto.
ZyCrypto

Privacy-focused Brave browser boasts 8M monthly active users

Privacy-focused internet browser Brave has hit 8 million-mark in terms of monthly active users. Announcing the news on Wednesday, Brave said daily active users, on the other hand, have surpassed the 2.8 million mark. The browser, with opt-in blockchain functionality, also compensates content creators, users and advertisers in its native Basic Attention Token (BAT) for viewing online ads. Brave said it has delivered nearly 400 ad campaigns to date. The browser maker further said that it now has over 290,000 verified publishers - 200,000 of those are YouTube creators, 33,000 website publishers, 15,000 Twitch streamers and 28,000 are Twitter accounts. Brave also offers a cryptocurrency wallet for ether (ETH), ERC-20 tokens and collectibles, including BAT.
The Block Crypto
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