Recent data from crypto data site Coin Metrics shows USDT tokens change locations every eight days on average. “The trailing 12 month velocity of @Tether_to on Omni, Ethereum and Tron has rapidly and consistently increased since September and currently sits at ATHs, where on average each $USDT turns over 46 times per year,” Coin Metrics posted on its Twitter account on Jan. 31. Moving on three blockchains Tether, one of the crypto industry’s oldest stablecoin operations, originally built its USD-pegged token on Bitcoin’s Omni token layer. Tether also operates on Ethereum’s blockchain as an ERC-20 token. Several years after its …

One of the biggest names in crypto has joined in an ongoing argument about who will lead the class-action suit against Bitfinex and its affiliates over alleged market manipulation leading to Bitcoin’s 2017 bull run. Antonopoulos’s affidavit Amid a flurry of filings seeking to lead the class, Andreas Antonopoulos has come out in support of the legal team of Liebowitz, filing an affidavit on Jan. 27 vouching for the expertise of the team — which Antonopoulos has seen in action on the Kleiman v. Wright case. Liebowitz’s representation includes a laundry list of attorneys from three separate firms, but Antonopoulos …

The four class-action suits against Bitfinex, Tether and parent company iFinex over alleged market manipulation leading to Bitcoin’s (BTC) 2017 bull market have been consolidated — with implications for every BTC buyer since April 2017. Per an order dated Jan. 24 and filed Jan. 27 from Judge Failla of the court of the Southern District of New York (SDNY), four complaints have been consolidated. Plaintiffs Leibowitz, Young, Faubus and Ebanks — as well as assorted sub-listed parties in each of those cases — will now have their cases heard jointly. The original allegations and controversy surrounding Bitfinex, Tether The class-action …

Tether is now supporting a gold-backed stablecoin, Tether Gold (XAU₮), according to a Jan. 23 press release. One token represents ownership of one troy fine ounce of physical gold, currently worth approximately $1,550. The new product is available as an ERC-20 token on the Ethereum blockchain, as well as a TRC20 token on Tron (TRX). The funds are said to be backed by physical gold held in a “Switzerland vault,” the press release reads. According to Tether, its gold offering is the only product among its competition that does not charge custody fees. Tether has also invited all exchanges wishing …

Adult entertainment website Pornhub has added a new cryptocurrency payment option after PayPal had abruptly stopped servicing its models in late 2019. According to a Jan. 23 blog post, Pornhub now supports Tether (USDT) — a major United States dollar-pegged stablecoin — to allow instant and zero-fee payments via the crypto wallet and browser extension TronLink. Pornhub supports Tron-based USDT TronLink is a native wallet for Tron (TRX), the 12th largest cryptocurrency by market cap that is backed by the Tron Foundation. The USDT token became available on the Tron network after Tether and the Tron Foundation partnered and released …

Major cryptocurrency exchange Huobi is launching its first licensed digital asset brokerage, Huobi Brokerage. Huobi, the fifth-largest crypto exchange by daily trading volume as of press time, will now provide brokerage service to its institutional clients, the firm said in a Jan. 21 press release to Cointelegraph. Huobi Brokerage provides simultaneous access to other exchanges and OTC desks via smart order routing Announcing the news at the annual World Economic Forum in Davos, the exchange said that Huobi Brokerage is the first product launched under the Global Institutional Business (GIB), an institutional services-focused division established by Huobi in November 2019. …

Currently facing multiple lawsuits, cryptocurrency stablecoin issuer Tether (USDT) received a request from prosecutors asking for consolidation, combining three lawsuits into one, which Tether has not denied. “We did not oppose the plaintiffs’ requests to combine these frivolous claims, originally filed, respectively, in October in New York, in November in Washington and in January in New York,” reads a Tether statement shared with Cointelegraph via email on Jan. 17, 2020. Multiple lawsuits Various parties have suspected Tether, alongside related exchange Bitfinex, of foul play numerous times over their years in existence. One of the most recent ordeals on the subject …

One legal team looks to lead the three ongoing suits against IFinex alleging that illegal conduct involving iFinex’s subsidiaries Tether and Bitfinex was behind Bitcoin’s (BTC) 2017 bull run. Per a Jan. 13 filing with the court of the Southern District of New York (SDNY), the counsel for Eric Young, Adam Kurtz and David Crystal are asking to be deemed “Interim Lead Counsel” for a number of parties filing similar class-action suits. Young et al are represented by law firms Radice and Kirby McInerney. Meaning of the new classification for the case Such a classification would make Young’s counsel the …

Crypto-friendly hotel booking giant Travala now accepts payment from a controversial cryptocurrency leader. On Jan. 10, Travala announced that Tether (USDT) is now a valid form of payment at its two million linked properties. Travala CEO Matt Luczynski said: “Part of our mission is to provide our users with a wide choice of the most well known and used cryptocurrencies so it made perfect sense for us to integrate USDT as a payment option on Travala.com.” In addition to Tether, Travala also accepts payments of Bitcoin, Ethereum, XRP, Litecoin, Binance Coin, Bitcoin Cash, Stellar, and Cardano, as well as its …

An Oct. 10 class-action lawsuit filed against iFinex Inc., the parent company of Bitfinex and Tether, was refiled on Jan. 8 in New York’s Southern District. The lawsuit by Young et al. was followed on the next day by a similar class-action filing by Bryan Faubus. The original lawsuit alleges that iFinex manipulated the cryptocurrency market in 2017 by issuing unbacked Tether (USDT) that was then sold for Bitcoin to increase its price. Plaintiffs argue that the common belief that each USDT represented one real dollar led traders to eagerly participate in the market, boosting it by an excessive amount …

Bitcoin (BTC) has come to Burger King in Venezuela as a new partnership opens up cryptocurrency payments at the fast-food chain. Confirmed in a tweet on Dec. 30, a single Burger King branch in the Sambil area of Caracas now accepts Bitcoin, along with altcoins Ether (ETH), Litecoin (LTC), Binance Coin (BNB) and Dash (DASH), as well as stablecoin Tether (USDT). Altcoins, Tether join BTC foray A total of 40 locations will follow suit in 2020, according to a blog post from Dash executives about the move. Cryptobuyer is a Panama-based cryptocurrency merchant gateway startup that also runs a fleet …

2019 may not go down as a year of breathtaking highs for cryptocurrency markets, but major strides have been made for mass adoption of digital payments and blockchain technology. A quick look at major headlines over the past 12 months highlight the shortcomings of the sector as well as the potential for cryptocurrencies to completely shake up the global payment system. One need look no further than social media giant Facebook announcing plans to launch its cryptocurrency Libra and digital wallet Calibra. The move sent shockwaves around the world and led to the United States Congress enforcing a moratorium on …