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Tether & Bitfinex Slapped With ANOTHER Lawsuit

Bitfinex and its subsidiary firm Tether Limited, have been slapped with yet another fresh class action lawsuit. Tether derided the latest suit as being “mercenary” in nature and iterated that no settlements of any kind will be reached. Bitfinex and its subsidiary firm Tether Limited, have been slapped with yet another fresh class action lawsuit. Tether, the company behind the extremely controversial but market-leading US dollar-pegged stablecoin USDT, has just recently filed a response which essentially denies any wrongdoing and has even dismissed the latest complaint as “absurd and groundless.” Posted on the Tether blog earlier today (November 25th), the...

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Craig Wright And Tether Indirectly Face-off For McCormack Lawsuit

Tether, the issuer of $4.1 billion cryptocurrency USDT, has announced it would be standing behind podcaster Peter McCormack in a lawsuit brought forward by Wright. Tether’s general counsel, Stuart Hoegner, took to Twitter saying that Wright had several chances to prove he is Satoshi Nakamoto. Enough is enough, he said. Due to Wright not actually being able to prove his claims that he is Nakamoto, Hoegner said that Tether would be backing up McCormack in his legal case. The most controversial person in the bitcoin space right now, Craig Wright is now finding himself pushing arguments against one of the...

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Has Tether’s Flippening Already Occurred? 

Tether announce USDT is going to other blockchains Tether Flippening has already happened? Blockstream announce support of liquid USDT Earlier in 2019, the Tether stablecoin announced that it would be diversifying the presence of its token, USDT. After basing the US dollar-fueled cryptocurrency on Omni, a Bitcoin-based system, for many years now, Tether has come out to say that it would be bringing USDT to other blockchains.  This comes at a time when TRON and other blockchains have all seen their own versions of the asset, with Ethereum’s ERC-20 copy being the most popular by far. In fact, it got...

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Tether Have Been Slapped with Yet ANOTHER Lawsuit 

It’s safe to say that Tether had had one hell of a year. It’s been lawsuit after lawsuit and it doesn’t seem t be getting any better as earlier this week, the leading stablecoin was slapped with another sepena for lawsuit, just adding to the woes of the companies experience in 2019. This time around, Tether has been accused of deliberately manipulating the market for its own benefit and while it adds that “calculating damages at this stage is premature” it estimates around $1.4 trillion in damages. Even so, the firm doesn't seem fazed by such a lawsuit and must...

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Would Tether’s Death See Bitcoin Crash Too?

An interesting concept was brought up by Akash Girimath for AMB Crypto in that what would happen to Bitcoin if Tether went away? One of the most important stablecoins in the space is definitely Tether. In fact, it’s probably the most important stablecoin as it has a market share of over $4 billion. After its launch in 2014, this new yet nascent technology did it, especially well considering how it has grown over the five years. As written by Girimath: “Recently, Bitinex posted a new blog, one written in anticipation of a lawsuit that was based on “bogus study.” A...

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