Tether Limited “Investing” in Bitcoin (BTC) is a Bullish Signal

Bitcoin (BTC) ranging but stable A portion of Tether reserves was used to invest in Bitcoin (BTC) Tether and iFinex, the parent company, are controversial though they play a crucial role in the ecosystem. Despite their claim that every USDT in circulation is pegged 1:1 against the USD, it appears that they are also investing in Bitcoin and other assets according to the latest Supreme Court transcript. Bitcoin Price Analysis Fundamentals The controversy around Tether Limited, the official issuer of USDT or Tether, appears to be perpetual. A few weeks…

Bitfinex and Tether Ask Court to Loosen NYAG’s Fund Restrictions

Tether has asked a judge for more leeway to use its cash amid the New York Attorney General’s investigation of the stablecoin issuer and affiliated crypto exchange Bitfinex. According to new court documents filed Monday, the attorneys for each side failed to come to a consensus on what, precisely, Tether should be allowed to do with its holdings. The NYAG’s office wants to prevent “any affiliated entity” from touching funds in Tether’s reserve and a 90-day injunction. On the other hand, attorneys for Tether and iFinex, the parent firm of Bitfinex,…

Binance, Bitfinex and Tether: What’s the Worst That Can Happen?

Daniel Cawrey is chief executive officer of Pactum Capital, a quantitative cryptocurrency investment firm and hedge fund. The views expressed are those of the authors and are not investment advice. All investors, institutional or otherwise, have a duty to try to see the world as it truly is. Not as they wish it to be. This is especially true when putting investment dollars at risk. One needs to ask questions to understand elements influencing the outcome of an investment. One of those questions is: How could things go wrong here? Investment…

Is Ripple (XRP) the Liquid alternative of Tether or USDC?

Ripple (XRP) prices slide 1.7 percent The rollout of xCurrent 4.0 is an opportunity for banks to upgrade and even adopt xRapid That the World Bank and the IMF have Ripple Inc in their reports is bullish. At the core, Ripple Inc is introducing speed, efficiency and cost savings in the fund remittance sector searching for alternatives. Even so, the unregulated nature of XRP is slowing down adoption as prices range within a 4 cents zone. Ripple (XRP) Price Analysis Fundamentals For the extended consolidation, Ripple (XRP) is said to…

Tether, Bitfinex Stay Afloat Amid Controversy

Tether has been one of the most controversial topics in the cryptocurrency community over the last two years — and things have come to a head over the past few weeks. The wider crypto community has been skeptical of the stablecoin and its claims that it was operating legitimately, due to concerns around its reserve policy. Stablecoins are centralized cryptocurrencies that are typically pegged to a fiat currency like the United States dollar or valuable commodities like oil or gold. Tether (USDT) claimed to be backed by the U.S. Dollar…

Tron (TRX) Blow, Tether (USDT) Reason for Reward Postponement

Tron (TRX) prices ranging Justin Sun postpones USDT rewards in light of USDT troubles Technically, Tron (TRX) is in an uptrend, but before 4 cents, bulls must clear 3.1 cents. Spurring that may be fundamentals, but with Justin Sun postponing USDT rewards, it may be a while before TRX demand rise. Tron Price Analysis Fundamentals The circus around iFinex promise to be disastrous for BitFinex—a trusted exchange laden with scandals, and Tether Limited—caught lying about reserves backing USDT. Note that this will also be consequential for company leaders who despite…

Tether (USDT) Promotion, Bitcoin (BTC) Likely to Print Higher

Bitcoin (BTC) in an uptrend but down 4.3 percent Tether’s reserve low and the peg isn’t 1:1 against the USD It is now emerging that USDT’s reserves don’t tally with what’s in circulation. That means Tether Limited is lying and investors may flock to safety driving Bitcoin prices up. At the moment, BTC is down 4.3 percent from last week’s close. Bitcoin Price Analysis Fundamentals Because of all the drama, investors are reluctant. However, that is not to say they are bearish. While there is a tinge of bearish sentiment,…

Tether (USDT), A Blip and Another Opportunity For Bitcoin (BTC) Bulls

Bitcoin (BTC) shed $4 billion after NY OAG sue iFinex Tether controversy force Bitcoin liquidation The OAG of New York is after iFinex, and from their documents, officials say the Hong-Kong based exchange, BitFinex are contravening NY Laws and therefore suing them. With additional evidence that the exchange “raided” Tether’s coffers and probably affecting the peg, clients are worried. Even so, Bitcoin (BTC) is stable, reversing earlier losses. Bitcoin Price Analysis Fundamentals There is sell pressure, and if we check the reaction of the crypto and the Bitcoin market, then…

Tether Updates Website, Says USDT Backed by “Reserves,” Not Just Cash

Tether just updated its website to clarify that each of its USDT tokens, which it used to claim were “always backed 1-to-1 with traditional currency,” are backed by assets other than fiat currency. Now, the website instead reassures its patrons that it’s always “100% backed by [its] reserves.” It clarifies this vague language, even legalistic language, by saying these reserves “include traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by Tether to third parties, which may include affiliated entities.”…

Bitcoin (BTC) Set For $4,500 With Tether (USDT) Reserve Doubts

Bitcoin prices stable and bullish Suspicion around Tether reserves will likely benefit Bitcoin Participation levels low but could increase as demand picks up Tether is making headlines thanks to their latest update touching on their reserves. While Bitcoin prices are unresponsive, it is likely that BTC will react as investors get edgy liquidating their USDT. Bitcoin Price Analysis Fundamentals By rolling a service with the express purpose of sheltering crypto traders during times of uncertainty, investors as well as traders expect better from Tether. On many occasions, the state of…