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Goldman Sachs-Backed Circle Launches Stablecoin USDC

Boston-based Circle introduced on Wednesday tokenized U.S. dollars over public blockchains called USD//Coin or USDC. The move to introduce yet another stablecoin in the market is done in partnership with CENTRE open source consortium. The ERC-20 token will be audited monthly by Grant Thornton. Circle.com is becoming a powerhouse in the cryptocurrency industry with impressive investors that include Goldman Sachs, Beijing-based Bitmain and other Chinese investors such as IDG Capital and CreditEase, among others. But unlike other blockchain ventures, the company has former members of Goldman Sachs and other Wall Street institutions on its team. Circle raised $100 million in...

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Evidence That Tether Is Manipulating Bitcoin Is Nonexistent

It’s become a bit of a hot topic within the crypto-debate. Research carried out during the middle of 2018 suggested that movements of Tether (USDT) could have been disturbing Bitcoin and thus, could have been manipulating the price of Bitcoin. This came as research found a correlation between significant changes in the price of Bitcoin and significant movements of USDT tokens. What is Tether? As a quick reminder, according to the Tether website: “Tether Platform currencies are 100% backed by actual fiat currency assets in our reserve account. Tethers are redeemable and exchangeable pursuant to Tether Limited’s terms of service....

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Why Tether Probably Isn’t Manipulating The Price Of BTC

Over the past few months, the movement of Tether tokens (USDT) has been accused of being able to manipulate the price of Bitcoin. It’s a complicated concept, but many believe that using Tether to back FIAT currencies is having an impact on the price of Bitcoin. This is alleged to be happening in waves, as those that maintain Tether produce new tokens in order to keep up with the flow of it’s FIAT connections. This idea materialised a couple of months ago, when a research paper from the University of Texas was published which refers to the timings of Tether...

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Tethers Role As A Central Bank For Crypto

Tether, the celebrity of the stablecoin world and one of the most ‘traded’ ‘cryptocurrencies’ in the world. I say this in inverted commas, as it’s status is a little hard to grasp, this aside, Tether has made a name for itself and is now as viable an asset as the US Dollar, and the range of other FIAT currencies that is is tied up too. The Wall Street Journal have recently published a very in depth report into the status of Tether, a report that Cryptoglobe have dissected to explore Tethers role as a ‘central bank’ for cryptocurrency. The full...

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Tether In Controversial Double Spend Attack

Tether is a cryptocurrency with a growing reputation. Very recently, Tether has been noted to have some impact on the value of Bitcoin, in fact research has recently found that Tether has been used to manipulate the price of Bitcoin, bringing into question a whole host of problems and questions. Regardless of this, Tether has seen some growth recently, moving up to ninth place for market capitalisation according to Coinmarketcap.com, with a market cap at the time of writing, of $2,700,621,552.00. As we know, Tether is considered a stablecoin, this is because the value of Tether is tied to the...

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