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.
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Markets Report: Bitcoin heads to $30,000 but exchange supply anything but bearish
A new round of price losses contrasts with a record withdrawal rate from exchanges this week
Bitcoin saw a fresh sell-off on January 21 as a surprise bearish phase swept the market despite huge institutional buy-ins. Travis Kling, founder of crypto hedge fund Ikigai, argued that the forthcoming entry of multitrillion-dollar asset manager BlackRock into the Bitcoin arena was a far more important price trigger.
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Bitfinex launches ETH and BTC loans
The cryptocurrency exchange’s users will now be able to borrow bitcoin and ether using fiat currency or stablecoins as collateral
Bitfinex customers can now use fiat currencies such as the United States dollar, the euro or the Japanese yen, as well as the tether (USDt) stablecoin issued by Bitfinex’s sister company Tether, as collateral to obtain a loan in BTC. ETH loans, on the other hand, can only be financed by the United States dollars that the borrower holds on the platform.
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P2P Bitcoin exchange Paxful adds tether, more coins coming
Top peer-to-peer cryptocurrency exchange Paxful adds USDT stablecoin to allow customers to avoid price fluctuations, announces plans to add more cryptocurrencies
USDT support is meant to allow users to protect their funds from the volatility typical of nearly all crypto assets.
