Leonardo Real, the chief compliance officer of Tether LLC, believes an organized campaign established by many publications is targeting crypto token Tether (USDT) and its partner banks. In an interview with Cryptonews, the Tether executive reaffirmed that its stablecoin known as USDT is fully backed by the US dollar, citing the attestation reports released by Friedman LLP and Freeh Sporkin & Sullivan, two US-based accounting firms based in New York and Washington. Continue reading Tether Exec Refutes Bloomberg, Reassures Investors Crypto Isn’t Manipulated
Digital Asset market is worth $270 billion now. Eyeing this massive opportunity, Intercontinental Exchange, the parent company of the New York Stock Exchange (NYSE), has launched the Bakkt ecosystem which will provide a marketplace for digital assets like cryptocurrencies. This ecosystem will be federally regulated to ensure full legal compliance. The Intercontinental Exchange has joined hands with big companies like Microsoft, Starbucks, and BCG to provision various services required for the success of this project. The Bakkt ecosystem is expected to incorporate federally regulated markets and warehousing along with consumer and merchant applications. Continue reading INTERCONTINENTAL EXCHANGE LAUNCHES BAKKT ECOSYSTEM
Nvidia (NASDAQ: NVDA), an American graphics processing units (GPUs) manufacturer, has recently reported that the company generated $289 mln from processor sales to the crypto market, Bloomberg reports May 10. Continue reading Nvidia Reports First Quarter Crypto Sales
The Berkeley ICO came one step closer to becoming a reality this week, earning a significant vote of approval from the local city council. The California city wasn’t the first US locality to push for blockchain adoption, but it’s making up for lost time with innovation. City council officials in the Northern California’s Berkeley on Tuesday unanimously voted for the city manager to explore the perks of using blockchain technology and an “initial community offering” (ICO) to raise funds in lieu of a conventional muni-bond offering. Continue reading Berkeley ICO Gets Vote of Approval from City Council
US regulators’ scrutiny into Bitfinex, one of the world’s largest cryptocurrency, over its dollar-pegged digital token Tether has sent bitcoin sinking below $10,000.
Bloomberg is reporting that the US Commodities Futures Trading Commission (CFTC) has sent subpoenas to Bitfinex and Tether, the firm behind a namesake digital token that is directly pegged to the value of a US dollar and is used for widely used for trading among exchanges globally. While Tether says its $2.3 billion in tokens are backed by USD reserves, the CFTC and Tether’s skeptics have questioned that very claim.