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Consumer advocacy group Consumers Research has released a report criticizing stablecoin issuer Tether’s lack of transparency regarding its US dollar reserves, calling it “a disaster waiting to happen for consumers.”The report argues that the main problem is that Tether has not had a full audit by a reputable accounting firm of its dollar reserves backing USDT, a 1:1 USD stablecoin. There is.In response to a request from Decrypt, Tether did not provide a statement, but pointed to a series of quarterly certifications (check out the latest here) and daily transparency updates, and how its security measures and existing Decrypt They…

Consumer advocacy group Consumers Research has released a report accusing Tether, the issuer of the USDT stablecoin, of being opaque and not conducting a full audit of its dollar reserves. Teaser accused of being opaque (again) Analysts at Consumers’ Research said USDT issuers have not yet conducted an audit of their reserves, despite promises to do so starting in 2017. Furthermore, the stablecoin has received a stability rating of “4 out of 5” by S&P Global Ratings. Here “5” is the worst. The report also includes letters to governors across the U.S. reporting on Tether’s opaque activities. In addition to…

The YouGuv study, commissioned by Brevan Howard Digital and Castle Island Ventures, aimed to examine stablecoin usage in five emerging market countries: Nigeria, Indonesia, Turkey, Brazil, and India. The results show that cryptocurrencies remain the top use case for stablecoins (50%). However, access to dollars came in a close second at 47%, and generation yield came in third (39%). The study involved 500 existing cryptocurrency users from each country. There is some anecdotal evidence that stablecoins are being used to access dollars and for regular transactions, but so far it has been difficult to pinpoint. The desire to access money…

September 12, 2024 Consumers Research, the nation’s oldest consumer advocacy organization, issues a public statement to U.S. governors regarding alleged risks associated with fiat-backed stablecoin issuer Tether (USDT) issued a warning. Consumers’ Research is a nonprofit organization (NPO) focused on educating consumers about a variety of issues affecting products, services, and markets. Founded in 1929, the site was created to provide unbiased, accurate information to help people make informed decisions about the products they buy. Over time, the organization has expanded its mission to include promoting consumer protection, exposing deceptive business practices, and advocating for market transparency. Consumers’ Research participates…

Tether has a habit of sharing really huge profit numbers every quarter along with its certification reports, and the numbers are bigger than BlackRock’s. The company reported net income of $12.72 billion starting in the fourth quarter of 2022, compared to BlackRock’s $9.83 billion. What is not usually discussed is that, as outlined in one of our blog posts, Tether lumps profits from U.S. Treasuries with mark-to-market gains (potential or unrealized gains) on Bitcoin and gold holdings. That’s what I’m doing. And that’s inflating Tether’s numbers. Tether’s quarterly certificates list the assets in the reserve pool that give Tether value.…

Overview: Litecoin, a staple of the cryptocurrency world, has shown a stable but slightly bearish pattern. The current trading price of $62.00 is significantly below the recent resistance level of $67.65. The PEPE/USDT chart shows that the cryptocurrency is currently consolidating around an important support level at 0.000006663. The Pi/USDT chart presents a worrying picture, showing that the asset is struggling to maintain its price within the $30 range. As the cryptocurrency market fluctuates, market participants are looking for signals that will guide their next move. Based on the current technology settings and market trends, here are some key predictions…

Home >News >Business >sCrypt Wins Bitcoin Olympic Award with OP_CATBlockchain scripting and contracting company sCrypt shows how it is possible to make payments on one blockchain and receive assets on another, leading to the 2024 Bitcoin Olympic Hackathon (Litecoin truck). A team of software engineers Mihael Šinkec and Yusuf Idi Maina leveraged BTC Signet’s SPV and opcode OP_CAT to demonstrate a transaction in which a buyer purchases BTC Ordinal tokens using Litecoin.sCrypt said this demonstration expands the possibilities for DeFi applications by directly exchanging one type of digital asset for another between transacting parties. There is no need for coordination…

Tether (USDT-USD), a cryptocurrency pegged to the US dollar, has quietly but rapidly become a dominant force in the global financial ecosystem. This is more than just a stablecoin. It is now an essential tool in both formal and shadow markets. With about $190 billion in daily trading volume, the company is comparable in size to Visa and even surpassed BlackRock in profitability last year, despite having fewer than 100 employees. As The Wall Street Journal reports, Tether has grown into a “vital cog in the global financial system,” but it operates in a gray area that has raised eyebrows…

Photo by Michael Förtsch on Unsplash Origin of Litecoin Created by Charlie Lee in 2011 as a lighter, faster alternative to Bitcoin, Litecoin is often referred to as the “silver” to Bitcoin’s “gold”. While Bitcoin was designed as a store of value, Litecoin aimed to offer faster transaction times and lower fees, making it more suitable for everyday use. Over the years, it has gained a large following and established itself as one of the top cryptocurrencies, solidifying its position as a reliable and widely accepted digital asset. Why investors seek Litecoin price predictions For both experienced investors and beginners,…

Tether (USDT), a leading stablecoin issuer, has invested over $112 million in an agro-industrial company founded in Argentina. Documents filed with the U.S. Securities and Exchange Commission (SEC) last month show that a Tether subsidiary owns 10,048,249 common shares of Adecoa Agro, a company with agricultural and energy production operations in Argentina, Brazil and Uruguay. has been done. Adecoa Agro stock (AGRO) is trading at $11.21 at the time of writing, and Tether stock represents 9.8% of the company’s stock. According to SEC filings, Tether Investment Limited, a subsidiary of the stablecoin issuer, is committed to developing “emerging technologies such…