• New York State Supreme Court building in Lower Manhattan showing the words "The True Administration of Justice" on its facade (via Shutterstock).
    Tether

    NY Attorney General accuses Bitfinex of using Tether’s reserves to hide $850 million loss

    Already under a cloud, Tether/Bitfinex’s woes mount

    Controversial cryptocurrency exchange Bitfinex is alleged to have tapped into reserves of the stablecoin issued by sister company Tether to cover up $851 million in losses last year, New York Attorney General Letitia James charged on Thursday.

  • Dollar coins
    Alt coins,  Tether,  United States

    Circle and Coinbase stablecoin not approved by regulator

    Both companies are regulated, but their coin is another story

    Circle’s “stablecoin” just got a big boost from one of the largest retail cryptocurrency exchanges, but there’s a nuanced issue: the token itself isn’t regulated, at least as far as one of its overseers is concerned. On Tuesday, Circle—the peer-to-peer payment service that owns crypto exchange Poloniex—and Coinbase announced the launch of CENTRE, a consortium that aims to facilitate the adoption of stablecoins. Those are tokens that are supposed to be pegged to fiat currencies by holding them in reserves. Circle’s USD Coin (USDC) is being marketed as safe, allowing users to “move dollars anywhere in the world in minutes instead of days. Cheaply and securely.” What’s more, Circle’s status…