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Tether was one of the first cryptocurrencies to peg its market value to a fiat currency. Launched in July 2014, Tether, originally called “Realcoin”, valued each token at $1.00 to reduce the friction of moving real currency throughout the cryptocurrency ecosystem. Due to its dollar peg, Tether and other similar cryptocurrencies have been dubbed “stablecoins”. Tether is the largest stablecoin by market capitalization and its users can redeem tethers for dollars. Originally, Tether launched on Bitcoin’s Omni Layer, but continues to expand to other protocols, including Ethereum, Bitcoin Cash, TRON, EOS, and Liquid Network. Note: the market cap figure shown here counts only supply on Ethereum
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Source Have You Heard The Good News? Well, there is plenty of it concerning Bitcoin (BTC-USD). The first factor I want to draw your attention to is that a U.S. Federal Court ruled on Friday that Bitcoin is a form of money covered under the Washington D.C. money transmitters act/MTA.
Max Wiethe joined senior editor Ash Bennington to debrief Real Vision’s Crypto Gathering conference during today’s Daily Briefing. During the interview, Ash shared insights from some of the panels he participated in and recommended content for viewers to seek out. Bennington said that the nearly three dozen pieces of content
An amended lawsuit alleging Tether and Bitfinex manipulated the bitcoin market is now claiming Poloniex and Bittrex were also involved.
Tether, the oldest and largest stablecoin tied to the U.S dollar, has fallen below par value for the longest stretch since bitcoin dropped to 12-month lows in March.
The value of assets for all stablecoins surpassed $10 billion as more cryptocurrency traders prefer alternative cryptocurrencies using dollar-backed digital tokens instead of bitcoin, according to Coin Metrics data.
Tether growth is hitting new all-time highs across multiple blockchains, but the first protocol to support Tether is being left behind.
Ethereum’s transaction counts have surged by 72% since mid-February
The U.S. Senate is considering blockchain voting during the COVID-19 crisis, while crypto becomes a mainstay in the Middle East.
https://www.coindesk.com/price/tether
