Fractional Reserve Stablecoin Tether Only 74% Backed by Fiat Currency, Say Lawyers

Tether does not have the fiat reserves to back its tokens, lawyers say



from Cointelegraph.com News http://bit.ly/2V7jzM4
via IFTTT

Kommentare

Kommentar veröffentlichen

Beliebte Posts aus diesem Blog

Fed Chair Jerome Powell Endorses Ethereum-Backed Reference Rate Project To Replace LIBOR

Bild
Jerome Powell, the current Chair of the US Federal Reserve, recently stated that an Ethereum-backed blockchain project operating as a reference rate – called AMERIBOR – could serve as a potential replacement to LIBOR. Blockchain Project To Replace LIBOR? The London Interbank Offered Rate (LIBOR) has a significant role in global finance. It’s utilized to determine numerous metrics from the interest rates that giant corporations pay for loans to the rates individual consumers pay for student loans or mortgages. However, some bankers using LIBOR reported false interest rates and ultimately manipulated the markets to boost their own profits. While this was undetected for years, when exposed, it became known as the LIBOR scandal . Since then, most world central banks have been searching for a replacement, including the Fed. While the Fed continues to support the Secured Overnight Financing Rate (SOFR) as the Alternative Reference Rates Committee’s (ARRC) preferred alternative, Powell re...
Mehr anzeigen

DBX – The Blockchain For Real World Apps Launches Official ICO

September 24th, 2018, Singapore – The technology company that’s leveraging Blockchain to build applications and businesses with transparency and control of data in its core, begins ICO. DBX made headlines this week with the announcement of their ICO launch that is expected to shake up the Blockchain ecosystem. The ICO, which is now open, intends … Continue reading DBX – The Blockchain For Real World Apps Launches Official ICO The post DBX – The Blockchain For Real World Apps Launches Official ICO appeared first on CoinSpectator Blog . from CoinSpectator Blog https://ift.tt/2N0DJyr via IFTTT
Mehr anzeigen