The controversial stablecoin Tether makes its way back into our crypto news and today we take a look at its background.
According to a report written by Bloomberg News, Tether gains huge amounts of interest on it US dollar reserves. The reserves are kept in multiple banks across Canada, Puerto Rico and the Bahamas. According to some of the bank reports, Tether earned at least $6.6 million in interest over a 7 month period.
To continue, it is still unknown whether Tether has the cash reserves as before claimed based on the bank statements but still the sources of the funds and the present location is unknown. The Commodities Futures Trading Commission has already issued a subpoena to the company because of the veracity of its cash reserves.
It still remains a mystery how the company operates daily. Tether refuses to allow the cash reserves to be audited and there is not a single statement about how much Tether has in its reserve accounts. There is only information about transferring and receiving USDT.
As far as we know, Tether could be running a fractional reserve system as many critics seem to believe. It will remain impossible to prove this theory wrong until the audited is commissioned.
The company works as a bank for some crypto exchanges that have zero fiat banking relationships which mean that there is a large piece of the market that is dependent on Tether to achieve fiat to crypto liquidity.
Crypto Analysts: 2019 May Be A Year Of Bitcoin Accumulation
“Similar to 2015, 2019 may be the year of accumulation.’’Another crypto researcher Willy Woo said that while a crash of bitcoin to $3,122 could lead to an increase in volume, it won’t show signs of starting of the accumulation period. He pointed out:
‘’Despite the technical setup that suggests bullishness is possible, there’s not a lot on-chain volume to fuel a prolonged up move. What we saw in the last 7 weeks was a spike of on-chain volume driven by volatility, coins moving to exchanges to trade. The initial volume spike false signalled a faster detox and an earlier end to the bear market, but in fact it was a volatility side effect. That move from $6k to $3k created immense trade volume, but it was in no way a signal that accumulation volume had begun.’’Until evidence for the accumulation of crypto assets shows up, there are still expectations of high volatility levels.
Dmitry Medvedev: ‘’We Should Watch Closely What Happens To Cryptocurrency’’
‘’But this, of course, is not a reason to bury cryptocurrencies. There are both light sides and dark sides, as in any social phenomenon, in any economic institute. And we should just watch closely what happens to them.’’He continued to discuss social inequalities and how the global digital transformation is speeding up saying the cryptocurrency is a part of that fast-going phenomena. The news comes right after major media outlets published the story of Russia’s plan to purchase $10 billion worth of BTC. Turns out that the news was fake. The Russian economist from the Presidential Academy of National Economy and Public Administration Vladislav Ginko pointed out that he strongly believes that Russia might use Bitcoin to fight economic sanctions and this story swamped the media and got massively exaggerated. Russia is, however, preparing a crypto bill that will provide stable cryptocurrency regulation in the next two months. The Duma State will be drafting a regulatory framework in February to regulate ICOs and crypto crowdfunding.
Nearly 1.5 Million People Used dApps In 2018, More Than A Half Being On Ethereum
"TRON is the most ambitious in the dapp field, with a $2 billion Project Genesis launched in the second half of the year. In addition, it spends $100 million on TronArcade to promote its dapp ecosystem."TRON (TRX) launched 97 decentralized applications in 2018, while its ecosystem and community have been growing at an alarming rate. This week, TRX was added to OKCoin, which is one of the largest US exchanges, in order to be traded against fiat, Bitcoin and Ethereum. The report also showed that gambling accounted for $3 billion in transactions over the course of 2018 in dApps.
Brave Browser About To Start Paying Users To View Ads
"A Brave feature called Brave Rewards allows people who use Brave to contribute BAT to the sites they visit. When someone turns on Brave Rewards, their browser will tally the time and attention they spend on each site, and divide up that person’s monthly BAT contribution among the sites they visit. Brave Ads will allow people to opt in to earn BAT based on their attention. When someone turns Brave Ads on, their browser will begin learning their preferences in order to show occasional relevant ads as system notifications," an excerpt from the website states.This is definitely one of the steadiest performance models for Brave. Previously, the browser worked on a model of blocking all ads but figured that replacing ads with their own ads is a significantly better option.
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