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Tether
Market Wrap: Bitcoin Holds Above $30K but Price Chart Looks 'Ugly'
Also, Circle might be an attractive "starter stock for the cautious" when it goes public, according to one analyst.
USD Tether Market Cap Movement Correlates with Bitcoin Price Trend
The tether stablecoin (USDT) money printer has gone quiet over the past few weeks, which coincides with bitcoin's lackluster performance of late. "All About Bitcoin" host Christine Lee breaks down the Chart of the Day.
Tether Hasn’t Printed New USDT in Weeks: 3 Possible Explanations
Here are three reasons why the stablecoin's tremendous growth has screeched to a halt.
Market Wrap: Bitcoin Slides Toward $30K, Looks ‘Fragile’
Federal Reserve Chairman Jerome Powell testified before the U.S. Senate, about inflation and the possible rollout of a digital dollar.
Circle’s Transparency Pledge
Circle’s CEO, Jeremy Allaire, promised to make the company ”the most public and transparent operator of full-reserve stablecoins.” Circle began issuing quarterly attestation reports to prove that its assets are fully backed; however, the reports don’t state what the assets are backed by. “The upper echelons of Tether truthers are now bringing the same questions to Circle that they’ve brought to Tether,” Zack Seward, CoinDesk’s Deputy Global News Editor, said.
Circle Isn't Winning the Stablecoin Transparency Race
Stablecoin projects increasingly compete on transparency. Circle's two-month-old data on "approved investments" leaves something to be desired.
Ohio Congressman: Bitcoin Poses No Threat to US Dollar
Rep. Warren Davidson, Ohio Congressman and House Financial Technology Task Force Ranking Member, discusses the contentious crypto conversations in Congress: Bill Foster proposing cryptographic backdoors to reverse crypto transactions. "Foster's clearly on one side, and I'm on the other," Davidson said. He also explains how closely lawmakers are focusing on the role of stablecoins on exchanges, suggesting tether (USDT) should be regulated as a security measure. Plus, reactions on the rise of central bank digital currencies (CBDCs) around the world.
Fitch Says Rapid Stablecoin Growth Poses 'Contagion Risks'
The Fitch report suggests that the turmoil also could have the potential to spread to traditional markets.
Jeremy Allaire on the Digital Dollar's Future: 'The Central Government Absolutely Does Not Need to Issue a Digital Currency'
Circle CEO Jeremy Allaire discusses the challenges and significance of USDC potentially expanding to 10 more blockchain networks, the broadest expansion in stablecoin history. "The central government absolutely does not need to issue a digital currency," he said. Plus, breaking down the difference between tether (USDT) and USDC as USDT risks come into focus.
US Fed Official Calls Tether a ‘Challenge’ to Financial Stability
Eric Rosengren included the stablecoin among what he termed new disruptors to short-term credit markets.
