The marketplace for cryptocurrency appears to have given its consent to Tether and the USDT coin, with the price still around 1 USD, other crypto-based companies are hesitant to engage in the currency following the most recent series of allegations. Tether updated its official website policy to no longer state U.S. dollar backing for USDT, giving a form of legal escape for their current predicament. In that release, Tether’s lawyers claimed that the company had cash and cash-equivalent to cover.
An announcement has been made by CoinAll regarding the launching of its new user campaign which is offering 10,000 USDT bonus pool. The campaign aims to expand its community by offering the bonus to those users who have completed the two-task mission. The GM of CoinAll, Katherine Deng said, “Community is the foundation of CoinAll. We hope to make it larger and stronger.”
Huobi Global announced that they have recently added the support for the Ethereum based version of Tether in their platform. The CEO of Huobi Global, Livio Weng commented, “By offering services for ERC20 Tether, we want to make the trading experience easier for both retail and institutional traders. we’re seeking to enhance user experience and better serve the trading community.”
Tether (USDT) stable coin cryptocurrency which has fiat money US Dollars to the value of its tokens in circulation. Recent reports which claim to have seen its bank statement says the company earned $6.6 million during January to July 2018 via interest from its USD reverse kept in various banks across Canada, the Bahamas, and Puerto Rico.
Bitfinex along with its sister company Ethifinex announced the release of four new stable coins by making the total of Dollar pegged tokens to six supported on the platform. All are listed in Ethifinex’s decentralized exchange (DEX). In past it was only Tether (USDT), the sole stablecoin, but the bearish market and Tether dominance paved way for new players.
The Tether has affirmed the reopening of its fiat deposits and tether (USDT) redemption. The company has also entered into a partnership with Deltec and is to release a revamped version of its original platform along with its wallet that enables withdrawals of USDT to fiat. It is expected to bring enormous flexibility and utility to Tether customers.
The Tether has confirmed its banking relationship with the Bahamas-based Deltec bank. The company announced, “The acceptance of Tether Ltd. as a client of Deltec came after their due diligence review.” Reportedly, the due diligence was conducted for several months and yielded positive results. The company added, “Deltec reviews our company on an ongoing basis.”
630 million Tether (USDT) were sent to Tether treasury by the Bitfinex in three separate transactions. Reportedly, the transfers were made thrice in October sending 200 million, 200 million and 230 million USDT respectively. An independent researcher mentioned, “Tether will continue buying up USDT from the market, slowly taking more and more of them out of circulation.”
The DigiFinex crypto exchange has altered Tether with TrustToken’s stable coin called TrueUSD. The Singapore based exchange record nearly $120 million trading volume on a daily basis. The exchange expressed that the concerns about the presence of U.S dollar reserves that should back Tether. Reportedly, TUSD is the first stable coin company that has obtained MSB license.
The OKEx exchange has introduced two new trading platforms called OCNex and 2100bit. Both the platforms support Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). The OCNex supports nearly ten coins while 2100bit supports 30 cryptos. The OKEx explained, “The open exchanges will support multiple sets of transaction fees. The first 100 exchanges will run a platform token-based operation”