The judge for the United States District Court for the Southern District of New York, Katherine Polk Failla, ordered Tether to prove 1-to-1 backing of its eponymous stablecoin, Tether (USDT). The company is required to provide “general ledgers, balance sheets, income statements, cash-flow statements, and profit and loss statements” and other documents to the court.
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After a successful Ethereum Merge, all eyes are set on the next phase of transition that would introduce key scalability solutions on the platform, including sharding. Market experts believe sharding would be a game changer for the Ethereum network as it could potentially solve the scalability trilemma. In an exclusive conversation with Cointelegraph, Uphold’s head of research,
A self-described 23-year-old “Crypto King” is facing a raft of demands among 140 of his investors as they try to claw back a collective total of $35 million from his company AP Private Equity Limited. According to a Tuesday CBC report, creditors are hard at work trying to unravel where all the money they allegedly
Though volatility is a core attribute of cryptocurrency, the swing is quite excessive for Ethereum. The price movement for Ether was progressive from the beginning of the second of the year. ETH gradually surged over the $1,800 level before the Merge. To some reasonable extent, the positive sentiment surrounding Ethereum’s transition from PoW to PoS
Before the Ethereum merge event, some experts and investors predicted a fall in the price of Ethereum and hence traded cautiously. Popular analysts referred to the merge hype as a buy the rumor, sell the news scenario. The Feds reserves tightening and other market factors added to the volatility recorded in the valuations of ETH,
We’re in a post-merge world, and the lessons keep arriving. As it turns out, the mythical Merge was a sell-the-news event for Ethereum. Technically, the event was a success and Ethereum kept a 100% uptime as optimistically predicted. Economically, the asset has been bleeding for the whole post-merge season. As a result, Ethereum lost ground
Draft legislation in the United States House of Representatives would place a two-year ban on new algorithmic stablecoins such as TerraClassicUSD (USTC) which de-pegged from the US dollar earlier this year causing widespread crypto market contagion. The bill would criminalize the creation or issuance of new “endogenously collateralized stablecoins,” according to a current draft of
Jamie Coutts, Crypto Market Analyst for Bloomberg Intelligence argues that “falsehoods” and “fear of the unknown” is what has been holding back traditional portfolio managers from investing in cryptocurrency. Speaking to Cointelegraph during the Australian Crypto Convention over the weekend, Coutts argues there has been an ongoing “falsehood” that “there is no intrinsic value in
Ethereum co-founder Vitalik Buterin has come out swinging in defense of Decentralized Autonomous Organizations (DAOs), arguing that in some circumstances they can be more efficient and fairer than a traditional corporate structure. In theory DAOs are collectively owned and managed by their members and have no central leadership. All decisions relating to aspects such as
The chief investment officer of asset management firm Guggenheim, Scott Minerd, says that the current market has delivered “the greatest investing opportunity of a generation.” He also warned about some investments that he expects to decline further. Guggenheim’s Scott Minerd on ‘the Greatest Investing Opportunity of a Generation’ The chief investment officer (CIO) of Guggenheim
Litecoin (LTC), known as “the silver to Bitcoin’s gold,” has been around for almost 11 years — which is quite a feat considering a fair amount of cryptocurrencies go bust within 12 months of launching. Cointelegraph spoke with the Litecoin Foundation’s managing director, Alan Austin, about why he thinks Litecoin’s core utility is serving as
Prices remain soft across the market as traders await Federal Reserve Chair Jerome Powell’s statement on the size of the next interest rate hike. At the moment, the market consensus is a 0.75 bps rate hike and a sliver of analysts are banking on 1%. Stocks also appear en-route to close the day in the
Ethereum’s switch to proof-of-stake (PoS) on Sept. 15 failed to extend Ether’s (ETH) upside momentum as ETH miners added sell pressure to the market. On the daily chart, ETH price declined from around $1,650 on Sept. 15 to around $1,350 on Sept. 20, an almost 16% drop. The ETH/USD pair dropped in sync with other
Elizabeth Rosenberg, the assistant secretary for terrorist financing and financial crimes at the United States Department of the Treasury, suggested sanctioning cryptocurrency mixers could help strengthen the government’s response to foreign entities looking to use digital assets for illicit means. In a Tuesday hearing of the Senate Banking Committee, which covered sanctions on Russia, Rosenberg
MicroStrategy now owns 0.62% of all the Bitcoin (BTC) that will ever be mined. The company’s executive chairman, Michael Saylor, announced that the company bought another 301 BTC for roughly $6 million at an average price of $19,851 per BTC. In sum, the company is one of the planet’s largest holders of the asset, owning
On this week’s “The Market Report” show, Cointelegraph’s resident experts discuss why the crypto market is dumping after the Ethereum Merge and why the bears are winning. To kick things off, we break down the latest news in the markets this week: Biggest Fed rate hike in 40 years? Five things to know in Bitcoin