Altcoins

Tether – the issuer of the world’s largest stablecoin, USDT – is once again being pressured to demonstrate the quality of its reserves.  On Tuesday, the company was ordered by a U.S. court in New York to provide detailed financial documents for evaluating claims around the asset’s backing.  An ‘Extraordinary’ Request The order is part of an ongoing 2019 lawsuit claiming that Bitfinex and Tether conspired to inflate Bitcoin’s price by pumping the market with unbacked Tether tokens. At the…

Vehicle manufacturer Tesla has just debuted its latest product, a limited edition toy whistle dubbed the Cyberwhistle. Billionaire Tesla founder Elon Musk announced the release on Wednesday as a new product catalog for the toy whistle emerged. Per the catalog, buyers can only pay for the Cyberwhistle using DOGE.  Tesla Announces the Cybertruck-inspired Cyberwhistle Musk shared news of the whistle in a Twitter post calling his audience to “Blow the whistle.” According to the product catalog, the toy was based…

Samson Mow – a popular Bitcoin advocate and developer – recently commented on Binance’s decision to remove USDC trading from its platform.  He called it “the beginning of the end for USDC,” predicting that it will drastically reduce the coin’s usage and market cap.  How Binance Can Steal Circle’s Reserves In a Twitter thread on Wednesday, Mow dismissed attempts from certain industry leaders to place a “positive spin” latest move.  “You can say it’s good UX for USDC users, but…

Input Output and the Cardano Foundation have both confirmed that Cardano’s Vasil upgrade will take place on September 22nd.  Input Output revealed the upgrade date in a tweet on Friday, after completing “extensive testing” and verifying “community readiness”. We along with the Cardano Foundation can today announce 22nd September for the Vasil upgrade on the Cardano mainnet,” said the company. Cardano founder Charles Hoskinson said last week that Vasil would launch in September, but didn’t reveal a specific date until…

Tether – the issuer of the world’s largest stablecoin, USDT – has released a statement responding to the Wall Street Journal (WSJ)’s latest claims about the status of its reserves. It labeled the outlet’s assertions as “a series of unsubstantiated conclusions” seeking to discredit Tether’s attempts to remain transparent with the public. Claims from WSJ In an article published on Saturday, WSJ reviewed parts of Tether’s history and accounting process that make its reserve dependability seems less than ideal. One…

Some fake football tokens suddenly spiked on Wednesday after billionaire CEO Elon Musk announced in a tweet that he intends to buy Manchester United FC. However, when questioned on the authenticity of his announcement, the entrepreneur tagged it as a long-running joke. Musk Resucitates Defunct Coin With a Tweet On August 17, Tesla CEO Elon Musk made a tweet where he announced that he intended to purchase the soccer team Manchester United. Hours later, the MUFC token, a previously dead…

Defi Yield Protocol (DYP) announced its listing across multiple leading exchanges including Coinbase, Huobi, and MEXC last month. It also recently provided details on its upcoming Metaverse platform, which will feature interactivity with Cats and Watches Society (CAWS) NFTs. Coinbase revealed the listing of DYP on June 21st, while trading started one day later. Next, MEXC announced it will start listing of DYP for the first time on July 19th. Huobi then added DYP to its platform on July 27th. …

Circle and Tether – issuers of the two largest stablecoin, USDC and USDT – have confirmed that they will only support redemptions on Ethereum’s proof of stake chain, post-merge. By contrast, any possible Ethereum forks that emerge in the aftermath will be left behind by both firms.  Rejecting the Miner Revolt Per Circle’s announcement on Tuesday, the company can only viably support a single version of the Ethereum state. “Our sole plan is to fully support the upgraded Ethereum PoS…

The decentralized exchange aggregator 1inch has announced an integration with the fiat/crypto payment platform Wirex. This integration will bring 1inch API to Wirex’s non-custodial wallet, providing it with direct token swap functionality. According to a press release shared by 1inch, the integration will also use 1inch’s pathfinder to let Wirex users find the most favorable rates for their trades.  “The Wirex integration is a natural step for 1inch, which always strives for universal application and mass adoption of its products…