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Tether (often referred to by its currency codes, USD₮ and USDT, among others) is a cryptocurrency stablecoin launched by Tether Limited Inc. in 2014. [ 3 ] [ 4 ] As of August 1, 2024, Tether reported having $118.4 billion in reserves, including $5.3 billion in excess reserves.
“Binance uses its chain for CeFi and DeFi operations and has a Layer 2, called opBNB, that uses Optimism rollups. It hasn’t taken off like Coinbase has, but it’s still good.
A Binance spokesperson said the "process of maintaining the backing … has not always been flawless" but "has been much improved with enhanced discrepancy checks." [ 91 ] In 2022, BUSD became the third largest stablecoin by market capitalisation [ 92 ] following Tether (USDT) and USD Coin (USDC).
USDT Jan Ludovicus van der Velde [57] Omnicore [58] PoW: Tether claims to be backed by USD at a 1 to 1 ratio. The company has been unable to produce promised audits. [59] 2016 Firo: FIRO Poramin Insom [60] Merkle tree Proof [61] C++ [62] PoW: The first financial system employing Zero-knowledge proof to protect users' privacy. [60]
Ripple’s XRP has become the third-largest cryptocurrency by market cap, overtaking popular tokens like Solana, USDT, and Binance Coin, as a new era of crypto-friendly policy begins to take shape ...
In 2018, bitcoin's design caused a 1.4% welfare loss compared to an efficient cash system, while a cash system with 2% money growth has a minor 0.003% welfare cost. The main source for this inefficiency is the large mining cost, which is estimated to be US$360 million per year.
In June 2022, the US Securities and Exchange Commission launched an enquiry into Binance as an entity and not into the crypto products it was dealing in. [21] On 11 November 2022, FTX , which was at that time the third largest cryptocurrency exchange by volume and valued at $18 billion, [ 22 ] entered bankruptcy proceedings in the US court ...
Image credits: Ok-File-6997 Animal shelters in the US had a busy 2023, with over 6.5 million pets entering shelters and rescue organizations. That’s 3.3 million cats and 3.2 million dogs. It was ...