Rumors about stablecoin Tether not being fully backed by dollar reserves are looking increasingly thin, according to the latest bank statements, which show that USDT is fully backed by dollar reserves. 2.2 Billion in the Bank Purportedly, statements from four separate months, detailing the cash held in Tether’s accounts, confirm the Tether USDT stablecoin is fully backed by dollar reserves. Bloomberg reveals the latest statement showing that $2.2 billion was present in Tether’s account at Puerto Rico’s Noble
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Now that the Bitcoin Cash hard fork is complete, will Bitcoin bounce back from a $1,200 loss? Market Overview Yesterday’s 8% move from $5,188 to $5,700 was nice but does the King of Cryptocurrencies have any other cards up its sleeve? At the moment bull volume is nearly non-existent and as the weekend approaches it could taper even further so barring some positive breaking news, bitcoin (BTC) seems set to trade in the current range
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As stigmas associated with cryptocurrency investing dissipate, YoBit decided to go rogue and launch a rather unique marketing promotion involving PutinCoin. Pump It Up! On October 11th, YoBit decided to debut a controversial pump promotion in an attempt to win over investors. While many thought it was a joke, the exchange actually had the gall to pull it off. Today, at random (though the exchange appears to be registered in Russia), PutinCoin (PUT) went ballistic
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Data from a detailed Chainalysis study found that Bitcoin whales may actually function as a stabilizing force in the market. Who’s in Charge of the Market? A newly published study from Chainalysis makes a strong case that Bitcoin (BTC) whales are not the shadowy culprits behind the notorious volatility associated with Bitcoin and the wider cryptocurrency market. The blockchain research firm reached this conclusion by analyzing 32 of the largest bitcoin wallets, which contain a
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In an effort to pin Bitcoin’s price drop on anything other than sellers overpowering buyers, mainstream and cryptocurrency-focused media have been eager to blame Coinrail — an irrelevant and incredibly minor cryptocurrency exchange in South Korea. However, the hack of Coinrail is not to blame for the flash crash. Market manipulators and panic sellers are. Panic Selling After a prolonged period of sideways trading, market makers in the cryptocurrency space decided to slice a $42
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U.S. government officials have ordered multiple cryptocurrency exchanges to fork over comprehensive trading data in order to aid in their investigation of whether or not cryptocurrency markets are being manipulated. ‘Required to Share Information’ Four major bitcoin exchanges have been ordered to turn over comprehensive trading information to U.S. government investigators, following fears of bitcoin futures-driven market manipulation. The report comes from The Wall Street Journal, which spoke to individuals close to the matter. The
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