• The stablecoin Tether USDT is the third largest cryptocurrency by market cap. (Photo: DIAMOND VISUALS/Shutterstock)
    Media,  Tether

    CoinDesk ME Lewitinn May Be Eligible for $1M Reward on Tether Transparency

    Short researcher Hindenburg offered bounty to anyone who uncovers info

    February 7, 2022 /

    Anyone interested in great business journalism, or short-selling in general, must read Andrew Rice’s profile of short seller Nathan Anderson, the founder of Hindenburg research. But here at Modern Consensus, we read it and thought of its relevance to one reader in particular. Press play to hear a narrated version of this story, presented by AudioHopper. Last week I wrote about how CoinDesk has been on a jihad to shed some transparency on exactly how the stablecoin Tether funds its gigantic reserves. The company claims that those reserves are backed dollar for dollar with actual, real-world dollar and dollar equivalent investing instruments. But Tether, the world’s third-largest cryptocurrency, has a…

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  • Are tether tokens really backed by dollars? (via Shutterstock)
    Are tether tokens really backed by dollars? (via Shutterstock)
    Media,  Tether,  Uncategorized

    CoinDesk on the Verge of Victory in Fight to FOIL Tether Records

    Stablecoin has resisted sharing details of its reserves with publication it deems ‘unprofessional’

    February 4, 2022 /

    One of the biggest mysteries in crypto revolves around token issuer Tether. Crypto enthusiasts—and crypto journalists— have long tried to figure out exactly what hard assets comprise the massive reserves that tether, as a “stablecoin,” is required to keep its dollar for dollar ratio in backing bitcoin with American dollars. The question is not academic. Tether has more than $78 billion worth of tokens in circulation and is by far the largest stablecoin issuer, accounting for about half of all transactions against bitcoin on centralized exchanges. Press play to hear a narrated version of this story, presented by AudioHopper. If the market began to question the stability of those dollar…

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  • tether launches on Solana
    Tether CTO Paolo Ardoino is having a good few months (Photo: Tether)
    Regulation,  Tether

    Tether launches on proof-of-stake blockchain Solana

    The world’s top stablecoin can now handle up to 50,000 transactions per second with a fee of about $0.00001 per transaction

    March 11, 2021 /

    “Tether and USDt are critical pieces of infrastructure for any successful blockchain project and have been one of the most important elements for cross-platform settlement. This strategic initiative is a significant step for Solana and will be instrumental in advancing the network," said Solana head of marketing Austin Virts.

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  • A Tether/Bitfinex legal settlement may have ended this morning's bloodbath (Photo: CoinMarketCap)
    Alt coins,  Bitcoin,  Ethereum,  Markets Report

    Markets Report: Bitcoin recovers from $45,000 lows as Tether legal debacle ends

    An amicable agreement between lawmakers, Tether and Bitfinex pleases markets, with Bitcoin heading toward $50,000

    February 23, 2021 /

    News that Tether and Bitfinex had reached a settlement with the New York Attorney General in a legal battle which had begun in 2019, ending crypto’s “most significant existential threat,” served to change market sentiment in an instant.

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