The USDT stablecoin is only about 74 percent backed by fiat equivalents as of April 30, says its issuer’s general counsel. Tether, the company behind USDT, holds about $2.1 billion in cash and short-term securities, wrote its general counsel Stuart…
Hackers who breached Microsoft Outlook have reportedly used the email service to steal cryptocurrency users’ funds. Motherboard reported Tuesday that hackers had managed to gain access to Microsoft customer support employee’s accounts in recent weeks, after which they were able to…
Taiwanese consumer electronics firm HTC is doubling down on its mission to offer blockchain features to its cellphone customers. HTC decentralized chief officer Phil Chen said at a recent event in Taipei that the company is preparing to release a…
Singapore-based exchange conglomerate Huobi Group has a unique growth strategy for emerging markets: partner with local entities and then split the profits 50/50. Revealed exclusively to CoinDesk, the South African exchange HIZA will launch in May and join a cohort…
The U.S. Securities and Exchange Commission (SEC) is temporarily suspending trading of shares in a little-known, self-described crypto exchange and mining firm called Bitcoin Generation (BTGN). The regulator announced Monday that it was suspending trading until 11:59 P.M. Eastern Daylight…
Pending bitcoin futures exchange Bakkt has acquired the Digital Asset Custody Company (DACC), secured insurance for assets it will hold in cold storage and revealed a partnership with BNY Mellon. Adam White, the former Coinbase executive turned Bakkt COO, wrote…
Rachel-Rose O’Leary is a reporter at CoinDesk, covering how cryptocurrencies are being used in areas of economic, social and political unrest. This article is part of her ongoing dispatches from Rojava, Syria. In August 2011, a hackerspace in Damascus, Syria,…
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Stablecoin issuer Paxos will partner with Ontology to issue up to 100 million of its PAX tokens, pegged 1:1 to the U.S. dollar, on the latter’s blockchain network starting from next month. The launch will make it easier for individuals…
Two Bitfinex shareholders said they were unconcerned by the New York Attorney General’s allegations that the cryptocurrency exchange lost $850 million of client and corporate funds. Zhao Dong, a Bitfinex shareholder who has tried to reassure the crypto community that…