Digital wallet and payment app startup Oobit has created a new stablecoin-backed corporate Visa debit card designed from the ground up for AI agents. Backed by Tether, Oobit’s new virtual Agent Card will give agentic bots the ability to make purchases autonomously, but with built-in spending limits and oversight. “The corporate card was designed seventy years ago for a human in a suit signing a paper receipt,” Oobit said in a release. “It is now being handed to autonomous software that makes hundreds of decisions a minute, and the results are exactly what you’d expect: no clear audit trail, no per-agent controls, no visibility into what was bought or why.”…
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The stablecoin Tether USDT is the third largest cryptocurrency by market cap. (Photo: DIAMOND VISUALS/Shutterstock)CoinDesk ME Lewitinn May Be Eligible for $1M Reward on Tether Transparency
Short researcher Hindenburg offered bounty to anyone who uncovers info
Anyone interested in great business journalism, or short-selling in general, must read Andrew Rice’s profile of short seller Nathan Anderson, the founder of Hindenburg research. But here at Modern Consensus, we read it and thought of its relevance to one reader in particular. Press play to hear a narrated version of this story, presented by AudioHopper. Last week I wrote about how CoinDesk has been on a jihad to shed some transparency on exactly how the stablecoin Tether funds its gigantic reserves. The company claims that those reserves are backed dollar for dollar with actual, real-world dollar and dollar equivalent investing instruments. But Tether, the world’s third-largest cryptocurrency, has a…
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CoinDesk on the Verge of Victory in Fight to FOIL Tether Records
Stablecoin has resisted sharing details of its reserves with publication it deems ‘unprofessional’
One of the biggest mysteries in crypto revolves around token issuer Tether. Crypto enthusiasts—and crypto journalists— have long tried to figure out exactly what hard assets comprise the massive reserves that tether, as a “stablecoin,” is required to keep its dollar for dollar ratio in backing bitcoin with American dollars. The question is not academic. Tether has more than $78 billion worth of tokens in circulation and is by far the largest stablecoin issuer, accounting for about half of all transactions against bitcoin on centralized exchanges. Press play to hear a narrated version of this story, presented by AudioHopper. If the market began to question the stability of those dollar…
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Tether launches on proof-of-stake blockchain Solana
The world’s top stablecoin can now handle up to 50,000 transactions per second with a fee of about $0.00001 per transaction
“Tether and USDt are critical pieces of infrastructure for any successful blockchain project and have been one of the most important elements for cross-platform settlement. This strategic initiative is a significant step for Solana and will be instrumental in advancing the network," said Solana head of marketing Austin Virts.
