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ConsenSys Founder Gives Thoughts On Tether-Bitfinex Fiasco

The co-founder of Ethereum turned founder of ConsenSys, Joe Lubin has given his views on the recent fiasco between Tether and the Bitfinex exchange. Even though it occurred a few months ago now, Lubin appeared at the recent Fluidity Summit conference where he said, “it seems like a really big mess that probably won’t get better.” Lubin is referring to is the New York State Attorney General that claimed Bitfinex lost $850 million and subsequently used funds from affiliated company Tether to cover the damage. As reported by Ethereum World News: “The issue is that Tether has had a shadow...

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Bitfinex Reveal Tether is to Launch on EOS Blockchain

The CTO of Bitfinex, Paolo Ardoino has stated that the world’s biggest stablecoin, Tether is about to launch of the EOS blockchain. The addition of Tether on the EOS platform follows up from its release on the TRON blockchain network earlier in the year. In a recent interview, the CTO stated that the main motive behind the team’s decision to push for the release of Tether on EOS is to supplement EOSFinex. Back in February, Kasper Rasmussen, the marketing head at Bitfinex, announced the launch of the decentralised crypto asset exchange built on top of the EOS protocol, EOSFinex. It’s...

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Lawyers for Bitfinex & Tether Move to Dismiss Case

Both Bitfinex and Tether are hoping to get the case against the New York Attorney General dismissed, at least that’s according to new court filings published on earlier this week on 21st May. One set of the court documents show the motion to dismiss from the lawyers of Bitfinex and Tether under claims that the New York Supreme Court does not have jurisdiction over the accused in the case of the alleged criminal activity. According to the Bitfinex and Tether’s lawyers as stated in the court filings: “Neither Bitfinex nor Tether has a single headquarters or home office. Rather, the...

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Following USDT Scandal: Stablecoins Are Flocking To The PermaWeb To Increase Transparency

The cryptocurrency community can’t quite keep up with the number of scandals surrounding Tether. Whether it's the silent update of the company’s terms and conditions, murky relationship with Bitfinex, or an inability to satisfy concerns on the legitimacy of its supposed multi-billion-dollar reserves - sentiment towards the project has never been as bleak.    However, with Tether and its USDT token still regarded as the de-facto crypto stablecoin, the industry is in dire need of a more legitimate, accountable, and perhaps, most importantly, transparent alternative. In full recognition of these consumer demands, the likes of TrueUSD, NOS, and Moneyfold -...

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More Info Shared on Bitfinex’s $1 Billion Token Sale

It is believed that the Bitfinex exchange, which has been under fire recently following the Tether scandal, might be moving to raise as much as $1 billion through a token sale over the next week. A Bitfinex shareholder has recently posted on the popular WeChat platform that individuals interested in participating should reach out to either him or the DFund group that he founded. Now, there will be a minimum buy-in of $1 million with an overall supply of one billion tokens according to the shareholder, Zhao Dong. He then further claimed that $500 million has already been subscribed. “Only...

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