• U.S. District Courthouse Southern of New York
    Uncategorized

    Prosecutors officially withdraw Reggie Fowler’s plea deal

    The man linked to Bitfinex’s missing money now heads to trial on four counts

    Reginald Fowler, the man who was allegedly at the heart of a shadow banking operation for cryptocurrency, forfeited what appeared to be an extremely reasonable plea bargain on Jan. 17. Now, according to a letter filed with the Southern District Court of New York on Friday, the U.S. government has officially withdrawn its plea offer as Fowler heads to trial.  

  • Tether launches gold-backed cryptocurrency
    Cryptocurrencies,  Tether

    Tether launches gold-backed cryptocurrency

    The new Tether Gold tokens will be backed by one fine troy ounce of gold stored in a secure Swiss vault, the company said

    Tether launched a gold-backed cryptocurrency, tether gold (XAUT), that can be redeemed for one fine troy ounce of gold stored in a secure Swiss vault—assuming you can redeem 430 tokens currently worth about $670,000 at once.

  • The calm decorum of consolidating class action lawsuits (via Pixabay).
    Cryptocurrencies

    Tether, Bitfinex face fourth market manipulation suit

    Another lawsuit accusing stablecoin issuer Tether and cryptocurrency exchange Bitfinex of causing the losses of the crypto winter is about to join the three consolidated class actions

    The lawsuits against iFinex, which owns the two companies, seeks $1.4 trillion in damages over alleged market manipulations that led to the crypto winter of 2018.

  • Cryptocurrencies,  Regulation

    SEC warns investors about initial exchange offerings

    IEOs are the new ICOs, and the financial watchdog wants investors to take heed

    The Securities and Exchange Commission issued an alert Tuesday, urging investors to proceed with caution before investing in IEOs through online trading platforms—which often tout themselves as exchanges—especially when those platforms are located overseas.