Tether Launches CNH₮, a Stablecoin Pegged to Chinese Yuan
At launch, Bitfinex will be the first exchange to enable its users to deposit and withdraw CNH₮ using the Tron blockchain transport layer.
Breaking: Tether Launches Chinese Yuan (CNH₮) On Tron
On Dec. 6, Tether, the stablecoin issuer, revealed that its offshore Chinese Yuan (CNH) would now be available on the Tron blockchain. Using the Tron blockchain transport layer, Bitfinex will be the first exchange to let users deposit and withdraw CNH₮ at launch.
Tether Founder Responds To Concerns Over Not Publishing USDT Reserves
Following the crypto winter in the first half of 2022 and the collapse of the Terra ecosystem, many investors had a paradigm shift with stablecoins such as Tether. Unfortunately, too many such coins have failed to provide the stability they claimed. Hence, users started demanding more transparency in the reserves of most stablecoins.
“Why Doesn’t Tether Publish USDT Reserves”: Founder Responds
According to a recent <a rel="nofollow" href="https://www.wsj.com/articles/rising-tether-loans-add-risk-to-stablecoin-crypto-world-11669875590">report</a>, Tether, the issuer of the USDT stablecoin, has been increasingly lending its own coins to customers rather than selling them for cash. Further, it also states that, the crypto giant has failed to disclose its stablecoin-issued loans and raises concerns about why <a href="https://coingape.com/tag/tether/">Tether</a> doesn’t publish its full USDT reserves for transparency.
Tether Co-founder Says Sam Bankman-Fried Should End Up in Jail
Tether co-founder Reeve Collins said he and other cryptocurrency industry members were shocked by the collapse of FTX.
Tether Responds to Media FUD Regarding Rising Loan Risk
On Dec. 1, the Wall Street Journal published another attack on the crypto industry, targeting Tether this time.
Report: Rising Tether Loans Add Risk to Stablecoin and the Crypto World
Tether says it lends only to eligible customers and requires that borrowers post lots of "extremely liquid" collateral, which could be sold for dollars if borrowers default. These loans have appeared for several quarters in the financial reports that Tether shows on its website. In the most recent report, they reached $6.1 billion as of Sept. 30, or 9% of the company's total assets. They were $4.1 billion, or 5% of total assets, at the end of 2021.
FTX-Tether Connection: Involvement Of Banks Raises Questions
Beleaguered crypto exchange FTX’s connection with Tether remains in question as the banks used by both companies are run by the same person. FTX’s Alameda Research invested $11.5 million in Farmington State Bank’s parent FBH, run by Jean Chalopin. Surprisingly, Chalopin is also the chairman of Bahamas-based Deltec Bank, the main bank of Tether.
Doge Founder: If Binance or Tether Collapse, It's Game Over for Crypto
The Co-Creator of the memecoin Dogecoin – Billy Markus (better known as Shibetoshi Nakamoto) – thinks if either Binance or Tether goes down, this could be “pretty much game over.” The American software engineer also outlined that an increasing number of people have realized that too much centralization is a “big weakness.”
Tether Ensures No Risk From USDT on Solana, SOL Tanks Further
The world’s largest stablecoin issuer, Tether, has ensured that there are no risks from USDT on the Solana network.
