• Fake Tethers under fake bitcoins.
    Fake Tethers under fake bitcoins. It's an illustration of what may be happening (Photo via Shutterstock).
    Tether

    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

    May 22, 2019 /

    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.

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  • Kik loses SEC suit
    The SEC emerges victorious in its ICO lawsuit against Kik (via Shutterstock).
    United States

    SEC settles complaint against self-reporting ICO

    Ruling could be problematic for fraudsters of 2017 and 2018

    February 20, 2019 /

    The Securities and Exchange Commission charged Gladius Network LLC with conducting an unregistered initial coin offering (ICO), even after the company self-reported themselves to the commission. Companies that fund through an ICO must register the coins as securities, the SEC clarified on Wednesday. Gladius will have to offer speculators a refund.

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