• Bitfinex repays tether
    Bitcoin,  Regulation

    Bitfinex repays $750M Tether loan, but lawsuits remain

    The cryptocurrency exchange paid off the remaining $550 million it borrowed from its sister company after being robbed—a loan that led to fraud and market manipulation lawsuits

    Tether’s undisclosed loan led New York State Attorney General Letitia James to sue the companies and their parent iFinex for fraud, conflict of interest, and violation of New York’s securities laws in civil court for failing to make clear that Tether’s USDt stablecoin was no longer backed one-to-one by U.S. dollars.

  • FATF stablecoin report
    Regulation

    FATF calls for clampdown on ‘so-called stablecoins’ in new report

    The Financial Action Task Force warns stablecoins have a ‘propensity for mass adoption makes them more vulnerable to be used by criminals and terrorists’

    When a powerful international financial oversight body releases a report on “so-called stablecoins,” you just know it isn’t going to be comfortable reading.

  • Bitfinex launches social network
    Cryptocurrencies,  Education

    Bitfinex launches social network for crypto traders

    Bitfinex CTO Paolo Ardoino tells Modern Consensus its Pulse platform’s goal is to foster a sense of community while providing “niche” and “high-quality” content

    Embattled cryptocurrency exchange Bitfinex has launched Pulse, a new social network aimed at helping its traders exchange ideas and share their insights.

  • 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.