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Found 3 results

  1. The Gemini exchange has just launched a new stablecoin (GUSD) that promises to provide some competition for Tether (USDT). According to the official blog post: In addition, the company promises a strong auditing program: This will set them apart from Tether, who have had many controversies recently regarding their auditing practices. View the whitepaper for Gemini Dollar here: https://gemini.com/dollar/whitepaper
  2. Several months ago a Medium user named @bitfinexed started writing about systematic Bitcoin price manipulation by an entity called "Spoofy". Now they're back again with a new article - this time describing how someone is "painting the tape" on Coinbase and GDAX order books. Dubbed "Picasso" (though this may well be the same entity as "Spoofy"), this single trader or trading bot appears to be investing huge amounts of money into manipulating the Coinbase/GDAX price to be higher than on Bitfinex. They're then using this arbitrage opportunity to its maximum potential. Not only is this happening for the BTC order books, but even more so for Bitcoin Cash (BCH) that has recently been added to Coinbase. At one stage there was a buy order for 95 BCH at $8500. That's a ridiculously large order for something so high above the realistic price range ($2k-$4k), so it's very unlikely a human would normally place such an order. It's far more likely that a bot was manipulating the price perception by creating such large orders at a high price to sweep up the order book and then benefit from arbitrage with gullible newbies buying in at the high price.
  3. Back in November the stablecoin system Tether (USDT) was hacked and a hacker stole $30 million worth of the cryptocurrency. Now Tether have published an announcement detailing their actions since the hack. According to the company, they worked with Omni Foundation that develops the underlying platform upon which Tether is based to isolate and blacklist the stolen funds. And now they are beginning to enable service for users again, "enabling limited wallet services, allowing users to login and start withdrawing any funds held in their wallets, as needed". Importantly, the company says to be cautious of depositing any new funds to existing Tether addresses. New signups have also been disabled while this new platform is under development.