Tag: Tether
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UST Becomes the Largest Decentralized Stablecoin in Market Capitalization
UST, one of the stablecoins of the Terra project, has become the largest stablecoin by market capitalization today, after having surpassed its Ethereum-based rival, DAI. UST is now the largest decentralized stablecoin in the market, closing a year of growth for the Terra ecosystem, which is now among the most valuable top ten cryptocurrency projects…
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Metropolitan Bank Shut Down Tether’s Accounts After 5 Months
On June 10, 2019, Coindesk reported that spokesperson told them that the New York-based Metropolitan Commercial Bank kept the accounts of the stable currency issuer Tether and its affiliates for less than six months before they decided to shut it down. The New York Attorney General’s Office (NYAG) which has been involved in a legal…
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Tether Case, Explained
1. What is Tether? Tether is a cryptocurrency that represents real currencies in a Blockchain market. The project was founded in November 2015. It has two tokens USDT and EURT, which were made as analogues of USD and EUR in a Blockchain world. These cryptocurrencies are closely connected with the exchange Bitfinex. At first, Tether was based on…