USD Anchor is the name of a new FDIC-backed stablecoin and is the latest fiat-linked initiative by the cryptocurrency community.However, as opposed to previous stablecoins Tether (USDT) and TrueUSD (TUSD), this new coin benefits from U.S government backing in the form of the Federal Deposit Insurance Corp (FDIC).The FDIC was established by the U.S government in 1933 … [Read more...] about FDIC-backed Stablecoin Launched in Partnership with IBM
Kraken is a US-based cryptocurrency exchange founded in 2011. Last week, Bloomberg accused Kraken of price fixing in connection to USDT. Kraken was quick to respond to the Bloomberg Tether allegation. Tether (USDT) is a stablecoin where one USDT is backed with one dollar. The stablecoin has been incredibly controversial in recent months. The Bloomberg Tether Allegation In the … [Read more...] about Kraken Responds to Bloomberg Tether Allegation
A Chinese cyber-security firm has found a possible error in the Tether stablecoin cryptocurrency. The firm, named SlowMist, state that they were able to fraudulently add Tether to an exchange's server, therefore giving the impression of funds being added. This means that USDT can be added to an exchange illegitimately. If this bug found in Tether is accurate, it could be … [Read more...] about Possible Double Spend Bug Found in Tether
Has Tether transparency improved by the Tether Ltd tweet of June 20, 2018? Tether stated, “Earlier this year Tether engaged Freeh, Sporkin & Sullivan LLP to review bank account documentation & to perform an inspection of the numbers of Tethers in circulation & the corresponding currency reserves.”The announcement also included two publications. The first was a … [Read more...] about Has Tether Transparency Been Improved?