Tether, the world’s biggest stablecoin, has faced relentless questioning over reserves backing for USDT, its stablecoin pegged to the dollar. But that hasn’t stopped it from launching stablecoins pegged to various currencies. Its latest is a plan to launch a sterling-denominated stablecoin on the Ethereum blockchain. Called GBPT, the coin will be launched in early July according to a press release issued by the company. … Continue reading Tether Plans to Launch GBP-Pegged Stablecoin. No Details, As Usual, On Reserves.

These are strange times in cryptoland. On the one hand, the number of projects and businesses that have either crashed or are in danger of crashing has multiplied. But that increasing list hasn’t stopped investors from throwing money at startups in the sector or bidding up their valuations. Magic Eden Achieves Unicorn Status   Magic Eden, an online NFT marketplace, recently received an infusion of … Continue reading Magic Eden, Solend, and Saylor

The bad news keeps piling up for cryptocurrency markets. There was little respite for investors as the rout in bitcoin price, which began over the weekend, continued this morning. Bitcoin price dipped below the key $22,000 support level though it managed to stay above $20,000. The cryptocurrency is down by roughly 66% from its high last November. Other cryptocurrencies also witnessed significant downdrafts. Ethereum’s ether, … Continue reading Carnage Continues In Crypto Markets

How will New York’s proposed two-year moratorium on cryptocurrency mining affect miners? While crypto advocacy organizations have labeled the bill’s contents as ‘draconian’, its actual impact on crypto mining operations in the state might be limited. This is mainly because the bill restricts denials to miners who generate electric power away from the grid. Anecdotal evidence suggests that there are very few such miners in … Continue reading New York’s Bitcoin Mining Bill May Not Affect Many Crypto Miners