Tether expects to reduce USDT’s commercial paper backing to $8.4 billion by the end of June 2022 and eventually completely remove it. The major stablecoin company Tether is looking to eventually get rid of commercial paper backing for its United States dollar-based stablecoin Tether (USDT). Tether issued an official statement on Wednesday to deny reports...Continue Reading

The passing of an investment proposal brought into question a legal agreement between the organizations and the Merit Circle DAO agreed to a counterproposal that would ensure a settlement. A potential legal battle has been prevented between the Merit Circle decentralized autonomous organization’s (DAO) backing company Merit Circle Ltd and Yield Guild Games (YGG) after...Continue Reading

Traders are nervous, data suggests, and a further drop could spark a chain reaction as exchange users rush to liquidate their BTC holdings. Bitcoin (BTC) could be on the verge of a retail major sell-off as exchange inflows spike to almost three-and-a-half-year highs. Data from on-chain analytics platform CryptoQuant shows users of 21 major exchanges...Continue Reading

The proposed law won’t necessarily make crypto legal tender in the country, but it’ll at least be legally recognized financial asset for investments and other uses. A proposed addition to an existing Brazilian law would grant Brazilians the right to use cryptocurrency as a means of payment while protecting their private keys from being taken...Continue Reading

“We are in the process of communicating with relevant parties and fully committed to working this out” Su Zhu stated. Su Zhu, the co-founder of Singapore-based crypto venture capital firm Three Arrows Capital (3AC) has put out a cryptic statement on Twitter in response to swirling rumors that the company is battling against insolvency. Online...Continue Reading

A provision in the bill gives authority over some cryptocurrencies to the Commodity Futures Trading Commission (CFTC), with the agency head saying it cares about having “rigorous oversight of markets.” United States Securities and Exchange Commission (SEC) Chairman Gary Gensler said he’s worried that a proposed bill to create a regulatory framework for cryptocurrencies could...Continue Reading

Bill Gates has slammed “expensive digital images of monkeys” while an NFT trader made a 921.12 ETH profit on a BAYC NFT overnight. Lacoste launches NFTs and DAO Accessible luxury brand Lacoste has launched an NFT project named “Undw3” that includes a new decentralized autonomous organization (DAO) that will offer token holders voting power on...Continue Reading

Some high-profile investors have taken the recent market downturn as an opportunity to add to their crypto positions, though others warn there’s still a risk of worse to come. Some of the highest-profile investors in crypto believe that a crypto market bottom is fast approaching and the timing is right to buy — although one...Continue Reading

The commission could be performing routine check-ups on the exchange in question, or it could be looking for specific compliance violations to litigate against. The Securities and Exchange Commission (SEC) has reportedly launched a probe to discover how crypto exchanges are working to prevent insider trading. FOX Business reported on June 15 that a person...Continue Reading

ETH price has stalled around the $1,100 level, but several data points suggest the altcoin’s sell-off is far from complete. Ether (ETH) price nosedived below $1,100 in the early hours of June 14 to prices not seen since January 2021. The downside move marks a 78% correction since the $4,870 all-time high on Nov. 10,...Continue Reading