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Latest news on the stablecoin Tether (USDT)


The largest stablecoin by market capitalization, Tether (USDT) continues to see a growing trend in terms of adoption.

The latest news, which refers to the cooperation with the Attorney General's Office – OAG – in New York, has not harmed the stablecoin, and now the iFinex company has almost finished presenting all the necessary documentation for the case that started in April 2019.

In a letter, Bitfinex's attorney, Charles Michael, I explain:

“Defendants have largely completed the production of the document and produced a substantial volume of material for the Office of the Attorney General (“ OAG ”) in recent weeks, although there are agreed supplemental items that need to be completed. The parties will need a few more weeks (i) to produce the complementary information, (ii) for the OAG to review the production, and (iii) to further discuss with each other if any other procedure is necessary ”.

Not only that, even the alleged association between Tether's legal affairs and Bitcoin price fluctuations is now disproven.

Tether and incidents: a robbery case in Hong Kong

Last Monday in Hong Kong, it seems that USDT was involved in a robbery.

According to reports, a gang allegedly stole HK $ 3.5 million from a woman shortly after she transacted on Tether (USDT).

The thieves allegedly lured the cryptocurrency trader to an office to set up the offline deal. The woman was allegedly paid HKD 3.5 million, or USD 450,000, in cash after using her iPhone to complete the USDT sale transactions.

But shortly after the exchange, three men with knives and sticks jumped out of another room and took the woman's money and phone.

The thieves did not flee the scene without first locking the female cryptocurrency trader inside the office.

More information is expected from the local police.

The double spending of Bitcoin

On a different topic, today, regarding the false news of the double spending on bitcoin, Paolo Ardoino, CTO of Bitfinex and Tether, commented:

"Cryptocurrencies have pulled out today amid unsubstantiated speculation that there had been 'double spending' on the Bitcoin blockchain. In fact, what happened is that two blocks were mined simultaneously. As a consequence, there was a reorganization of the chain, which did not result in double spending. Those who gaze with joy at the Red Sea in today's cryptocurrency markets will realize that a long-term bet against bitcoin will be a loss. "

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