Tether Transactions Resume Following Incident with Omni API

Tether (USDT), the eighth-largest cryptocurrency and the second most-traded coin behind bitcoin, is functioning as normal following an incident with the engine that feeds data from the underlying Omni protocol to the platform’s hosted node services. For approximately eight hours on Monday, tether transactions appeared to be frozen, and in fact were — at least …

Bitcoin Drops 2% in 30 Minutes as Crypto Market Bleeds

Within the past 30 minutes, the Bitcoin price has dropped by more than 2 percent from $7,400 to $6,950, pushing tokens and other major cryptocurrencies to record large losses. Ethereum, Ripple, Bitcoin Cash, and EOS recorded 6 to 7 percent losses as Bitcoin failed to maintain momentum in the $7,400 range. If Bitcoin manages to …

Kraken Strikes Back at Tether Price Manipulation Claims

Cryptocurrency exchange Kraken is calling foul on allegations that its tether (USDT) markets are frequently characterized by trading activity commonly associated with wash trading and other forms of market manipulation. Last week, Bloomberg published an investigative report examining trades involving tether, a “stablecoin” allegedly backed by physical U.S. dollars at a 1:1 ratio. Controversy has …

Bitcoin Price Eyes Comeback as 250 Million New Tethers Enter Circulation

Cryptocurrency startup Tether issued $250 million in new tokens on Monday, sparking speculation that a bitcoin price rally could be inbound. Blockchain data indicates that Tether, the creator of cryptocurrency “stablecoin” USDT (colloquially called tether), issued 250 million new tokens this morning, June 25. USDT, which is pegged to USD at a 1-to-1 ratio, serves …