
Did the era of the Dogecoin, the most famous cryptocurrency, come to its end, or it is just a calm before the storm? Let’s find out!
On Thursday, the key crypto assets generally traded in the green in Asia. Moreover, further investigation by the New York watchdogs uncovered that stablecoin Tether isn’t completely backed by cash anymore.
Eventually, the number one digital currency, Bitcoin managed to head north by up to 2.81% concluding the trading session at $5,375.6.
Besides this, Ethereum surged by 1.77% being worth $160.38, while XRP rallied by 0.08% trading at $0.30211. As for Litecoin, it went up by 5.02% hitting $73.173.
The overall market capitalization rebounded from $169 billion to $175 million.
Crypto investors were still keeping an eye on the investigation into key Bitcoin exchange Bitfinex for fraud. Run by Bitfinex, Tether appears to be a stablecoin reportedly underpinned by the value of the evergreen buck on a 1:1 ratio. However, the latest development uncovered the opposite thing.
As follows from the recent investigation, the operators of the Bitfinex trading platform, controlling Tether, have tried to conceal the evident loss of $850 million dollars of the co-mingled client as well as corporate funds.
The Attorney General told that Bitfinex has already taken up to $700 million from Tether’s reserves. Besides taking that sum the company has dared to conceal the very fact of that transaction from investors.
Aside from that, CoinFlip, crypto automated teller machine operator told it has delayed support for Tether for some time.
CoinFlip's major concern is to make sure that their clients are absolutely safe, and they often overdo in terms of caution. We require full assurance that the crypto asset Tether is steady enough, and Bitfinex and Tether strictly adhere to US law.
Did the era of the Dogecoin, the most famous cryptocurrency, come to its end, or it is just a calm before the storm? Let’s find out!
The main digital coin erased all the gains done after Elon Musk's February announcement. What are we heading into?
Ethereum crossed $3000 recently and is aiming at $3500 already. Is it taking over Bitcoin's place?
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
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