A group of individuals is lobbing a $1.4 trillion class action lawsuit against the company behind Bitfinex and Tether, the latest in the company’s looming legal battles. David Leibowitz, Benjamin Leibowitz, Jason Leibowitz, Aaron Leibowitz and Pinchas Goldshtein...
Stablecoin issuer Tether is planning to issue a new stablecoin “CNHT” pegged to offshore Chinese yuan (CNH), according to Zhao Dong, a shareholder of Tether’s sister company Bitfinex. Zhao revealed Tether’s big move via his WeChat moment on August 21, saying that Tethe...
DGroup founder and Bitfinex shareholder Zhao Dong says that it is a political issue rather than a true-false for the U.S.’s attitude towards crypto exchange Bitfinex and the dollar-pegged stablecoin Tether. On July 29, the New York Supreme Court (NYSC) ruled to give a 90 day e...
The cryptocurrency industry’s predominant stablecoin, tether, now has a new home on Blockstream’s Liquid sidechain. As of today, July 29, 2019, the Bitcoin secondary network now supports USDT as one of its Liquid assets. These assets, the tokens that power the Liquid network, hold ...
Tether, a stablecoin tied to the dollar that is meant to mediate the volatility of other cryptocurrencies, is partly backed by bitcoin. As detailed in court documents obtained by The Block, Tether admitted to using some of the cash reserves meant to back its stablecoin to purchase bitcoi...
Zhao Dong, a shareholder of the embattled crypto exchange Bitfinex, disclosed details that the exchange is attempting to launch an IEO to raise $1 billion in its new native token LEO sale, in the wake of some contentious activity regarding Bitfinex’s reserves. According to Bitfinex’...
Zhao Dong, a shareholder of the embattled crypto exchange Bitfinex, confirmed that the exchange is planning to issue its native exchange token but made no comment on the rumored plan of “raising $1 billion”. “Bitfinex does have a plan to issue its exchange token, but the details have no...
Zhao Dong, a Bitfinex shareholder as well as a bitcoin influencer in China, has been reassuring the crypto community that the exchange is solvent and remains supportive for it after the $850 million Bitfinex bombshell, with his most recent comment on his Weibo (Twitter equivalent in China) b...
Despite the toll news of a fraud claim against Bitfinex exchange and Tether, the value of the top cryptocurrency bitcoin seems to be bouncing back to its recent peak. Early Friday April 26, Bitcoin price dropped by about 6% to $5189. The drop comes as the New York Attorney General’s ...
Tether (USDT), the cryptocurrency marketed as a stablecoin backed by the U.S. dollar, has minted another 640 million tokens this April, among which a fresh batch of nearly 420 million USDT was issued on Omni (300 million), Ethereum (70 million) and Tron (49.9 million) network in the l...
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