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Tether Limited also disclosed a net equity of $11.9 billion, and the stablecoin's market capitalization exceeded $114 billion. [5] [6] Tether faces criticism regarding the transparency and verifiability of its claimed fiat reserves. [7] Tether is the largest cryptocurrency in terms of trading volume, holding 70% of the market share among ...
Tether: 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]
In a February 2018 issue of Forbes magazine, Pierce was named in the "top 20 wealthiest people in crypto" with an estimated net worth between $700 million and $1.1 billion. [37] Pierce was a co-founder of the cryptocurrency Tether with Reeve Collins and Craig Sellars in 2014. [38]
Ardoino has also led Tether to invest in the growth of renewable energy and sustainable Bitcoin mining in Uruguay. [12] [13] Under Ardoino, Tether has collaborated with law enforcement to crack down on crypto-based scams, including a $225 million pig-butchering scam. [14]
The most popular stablecoin, Tether, initially claimed to be fully backed by fiat currency; this was proven to be untrue, and Tether was fined $41 million by the Commodity Futures Trading Commission for deceiving consumers. [3] Instead, Tether only had enough fiat reserve to guarantee 27.6% of their stablecoin.
In April 2019, New York Attorney General Letitia James launched an investigation accusing Bitfinex of using the reserves of Tether, an affiliated company, to cover up a loss of $850 million to a Panamanian payment processor known as Crypto Capital Corp. [45] [46] Reggie Fowler, who is alleged to have connections with Crypto Capital, was ...
Tether's investment in Rumble is the company's second big investment outside of crypto. In September 2023, Tether took a stake in the cloud and AI firm Northern Data, which Ardoino said is part of ...
It has plenty of buzzwords, though! Some other Wikipedia editor who feels like wasting an hour or so can create a better summary. — IP-69-112-106-230 15:29, 31 August 2021 (UTC) Investopedia defines Tether as a 'cryptocurrency'. Bloomberg defines Tether as a 'cryptocurrency'. The Financial Times defines Tether as 'cryptocurrency.'