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.
Bitfinex tells court Tether invested part of dollar reserves in Bitcoin
The revelation came in an attempt to dismiss a fraud and securities law violation suit brought by New York State Attorney General Letitia James
The Tether stablecoin is backed in some part by bitcoins. David Miller, an attorney for Tether’s sister firm, cryptocurrency exchange Bitfinex, revealed in court last week that Tether has invested “a small amount” of the reserve dollars backing the tethers (USDt) in bitcoins (BTC). He added that the company had also invested in other undescribed assets.
Ernst & Young to QuadrigaCX users: You’re screwed
The cryptocurrency exchanges bankruptcy trustee said it may not be worth looking for the missing 90% of customers’ digital assets
Cryptocurrency exchange QuadrigaCX has barely 10% of its depositors’ money, and it’s probably not worth looking for the rest. That is what of auditing and advisory giant Ernst & Young Inc. told the Supreme Court of Nova Scotia in its role as trustee of the firm’s bankruptcy on May 1. It will be too long and costly, and some other exchanges and payment processing firms are not cooperating, it said.
Bitfinex owner plans to raise $1 billion in an exchange token offering
iFinex’s IEO will cover the $850 million cryptocurrency exchange Bitfinex said it lost to government seizures
Now that word is out that cryptocurrency exchange Bitfinex is missing $850 million that it may or may not ever see again, parent company iFinex is trying to raise $1 billion by selling a new exchange token to be called a LEO.