News that Tether and Bitfinex had reached a settlement with the New York Attorney General in a legal battle which had begun in 2019, ending crypto’s “most significant existential threat,” served to change market sentiment in an instant.
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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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The Financial Action Task Force fears 'so-called stablecoins' could scrub its money laundering efforts (Photo: Wikimedia Commons).FATF calls for clampdown on ‘so-called stablecoins’ in new report
The Financial Action Task Force warns stablecoins have a ‘propensity for mass adoption makes them more vulnerable to be used by criminals and terrorists’
When a powerful international financial oversight body releases a report on “so-called stablecoins,” you just know it isn’t going to be comfortable reading.
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All that is gold does not glitter—particularly the Tether Gold stablecoin. (Photo: Linda Hamilton via Pixabay)Tether launches gold-backed cryptocurrency
The new Tether Gold tokens will be backed by one fine troy ounce of gold stored in a secure Swiss vault, the company said
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.
