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“# Tether’s market cap is growing at a near-record pace ” The market cap of Tether (USDT), a U.S. dollar-pegged stablecoin, has surged in recent weeks, potentially helping to fuel the recent Bitcoin (BTC) rally that drove prices to near all-time highs. Paolo Ardoino, who serves as dual CTO to Bitfinex and Tether, tweeted Thursday…
“# Cheese Bank’s multi-million dollar hack explained by security firm ” An Ethereum-based decentralized finance, or DeFi, platform known as Cheese Bank recently suffered a $3.3 million loss — the product of an early-November hack. The thieves utilized a somewhat newly-found weakness in the DeFi sector which harnesses flashloans. The Cheese Bank thieves stole the…
“# Privacy should be at the core of CBDCs, says Boston Fed research director ” Robert Bench, the Federal Reserve Bank of Boston’s director of applied research, thinks privacy should be a focus during the creation of digital money, not an afterthought. “Privacy is a question that we have learned is critical from a technical…
“# Bitfinex to compete with DeFi with new borrowing service ” Amid a year of significant growth for the decentralized finance space within the crypto industry, Hong Kong-based crypto exchange Bitfinex has unveiled its new lending service today, called Bitfinex Borrow. “Bitfinex Borrow is a borrowing platform,” Bitfinex chief technology officer Paolo Ardoino told Cointelegraph….
“# DragonEx resumes withdrawals with a temporary internal token mechanism ” Cryptocurrency exchange DragonEx is introducing a stopgap measure to reintroduce withdrawals after some problems last month. According to an official announcement on Nov. 8, DragonEx is introducing a temporary solution to allow crypto withdrawals. The exchange will require its users to acquire so-called “DragonEx…
“# Tether market cap surpasses $17 billion, fueling Bitcoin price rally ” According to Tether’s official transparency data, the USDT market cap crossed a $17 billion mark for the first time, hitting over $17 billion in total assets. Tether’s market cap has been growing exponentially in 2020. As of mid-September, Tether’s market cap saw nearly…
“# Huobi says all is fine amid massive USDT exchange deposits and BTC withdrawals ” Crypto-Twitter has been abuzz with speculation about a large amount of USDT flowing into the Huobi crypto exchange. Significant amounts of Bitcoin (BTC) also appear to have exited the platform during the same period. The Singapore-based entity recently issued a…
“# Binance exchange partner Simplex rolls out Tether to euro offramp ” Simplex, a major crypto-to-fiat payments provider, is adding another fiat offramp to enable its partner exchanges like Binance and Huob to sell major stablecoin Tether (USDT) to the euro. According to an Oct. 29 announcement, Simplex has rolled out new Tether (USDT) offramps…
“# Almost half a billion USDT minted in past 36 hours as Bitcoin rallies ” The Tether (USDT) Treasury has minted almost half a billion new USDT tokens and distributed more than 185 million tokens to exchanges and other addresses in the last 36 hours. As shown by blockchain tracker Whale Alert, two transactions of…
“# Tether volume hits $600B as it attempts to take on Bitcoin as crypto’s benchmark ” The latest data from analytics providers suggest that cumulative Tether transaction volume has just surpassed $600 billion as it begins to dominate crypto exchange trading. On-chain analytics provider Glassnode has revealed that Tether transaction volume increased by around 20%…