Study Claims Bitcoin’s Rise Result of Tether and Market Manipulation
A 66 page study is trying to assert that Bitcoin’s 2017 rise was the result of price manipulation using Tether… but the report is narrow and likely not telling the full story.
Stable Coins
Stable coins are cryptos meant to hold a stable value. They are generally pegged to $1 USD.
For example, Tether (USDT) and USDC are centralized cryptos whose value roughly mirrors the price of a dollar, while Dai is an attempt at a decentralized stable coin.
Some stable coins are backed by dollars like USDT and USDC, other stable coins use different mechanics to keep their peg (for example Dai is backed by crypto assets). Each stable coin is its own beast.
For exchanges that don’t deal in dollars, stable coins provide much needed liquidity and allow traders to go to a stable asset that mimics cash.
Details aside, suffice to say, in the volatile world of crypto, its nice to have some stability.
Bitfinex
Bitfinex is a leading and important cryptocurrency exchange that offers the major cryptocurrencies for trade and is a favorite spot for margin traders.
What is a Stable Coin?
“Stable coin” is a term used in cryptocurrency to describe cryptocurrencies meant to hold stable values. For example, Tether (USDT) is a blockchain based asset meant to trade for $1 USD. It is a “price-stable cryptocurrency.”
Bittrex to Reopen Signups and Add USD Trading
Bittrex’s CEO confirmed that after some updates Bittrex will soon reopen signups to new users and allow USD trading.
Tether Addresses the Tether Conspiracy Theories an Offers Updates
A lot of conspiracy theories were going around about Tether. Tether addressed these theories and ensured everyone that they Tethers are backed 1:1 by dollars and they have been audited.
How to Understand the Tether FUD and Conspiracy Theories
Tether (USDT) is a stable coin meant to trade for $1. The idea being that dollars are held in a 1:1 ratio by the company Tether. We discuss the FUD and conspiracy theories surrounding Tether.
Hello Correction; Crypto Went on Sale in Time for the Holidays
Sometimes the cryptocurrency market corrects by 25% or more. Dec. 21 – 22, was one such time. From a positive frame, crypto just went on sale for the Holidays.
Tether Hack Causes a Quick Sell-off
Tehter was reportedly hacked on Nov. 20th. This caused a quick sell-off of all things crypto. However, most coins quickly recovered.
Bittrex
Bittrex Global is a relatively popular crypto exchange. They were once also one of the more popular US-based crypto exchanges for trading altcoins. However, in 2023 Bittrex US filed for bankruptcy.
What is Tether?
Tether (USDT) is a cryptocurrency with a value meant to mirror the value of the U.S. dollar. The idea was to create a stable cryptocurrency that can be used like digital dollars.