China’s CBDC wants to displace the U.S. dollar, but Genesis Block’s Charles Yang believes it doesn’t offer a compelling alternative to USDT.
Tether is a cryptocurrency token that claims be backed by 1 dollar for each token issued. Tether may be explained as a hybrid between a cryptocurrency and fiat money, as its “tethered” to the value of fiat currencies. Tether usually uses a USDT currency, which is supposed to be worth exactly what USD is worth at the same period of time.
Tether can’t be an investment because the US dollar’s price is decreasing over time due to inflation, but neither it can be a speculative interest, because it most certainly would be around the same price for a long time.
Still, there are a few things about Tether that make it very suitable for crypto investors to use. Tether transactions mostly take a few minutes to complete, Tether charges no transaction fees for moving funds between Tether wallets, and it is a stable and fast resource to cash out and cash in when there is a difficult situation in the market.
Does this week’s 300 million USDT migration from the Tron to Ethereum blockchain mean trouble is brewing for TRX?7256
Tether, USD Coin, and Binance USD have posted triple-figure market cap growth this year.7580
COMP spot trading against USDT started at 6 AM UTC today.4853
Kadena preps its first ever listing on Bittrex Global, with initial trading pairs including Bitcoin and Tether.3093
Alex Mashinksy says that new equity investors, including Tether, will have no say in Celsius’ mission of sharing 80% of profit with its users.5051
Last Monday, Chinese media reported that police in Guangdong froze thousands of bank accounts belonging to over-the-counter traders.2075
Turkish real estate firm Antalya Homes announced that its customers can now pay for properties listed on its platform with Bitcoin.7611
Coinbase's institutional custody platform tweeted out a Tether (USDT) support unveiling, only to subsequently delete the tweet.7271
A report by CoinMetrics has found at least 80% of the entire capitalization of five top stablecoin projects is held in less than six accounts on each respective network.4318
Bloomberg thinks Bitcoin could return to record highs of $20,000 this year, but warns Ether may not be the world’s second-biggest cryptocurrency for much longer.16986
As protests rage throughout the United States, this week’s biggest moves in crypto law were behind the scenes.7144
Bloomberg’s report that provides crypto outlook for June says that it expects Tether to pass Ether as the number two cryptocurrency on the strength of the dollar.8983
Bitfinex and Tether have addressed the updated lawsuit which accuses them of market manipulation.4244
Bittrex and Poloniex have become embroiled in a class-action lawsuit that alleges USDT created out of thin air drove the 2017 bull run.8520