In a report released on September 12, Consumers’ Research, a prominent U.S. consumer advocacy group, raised concerns about the stablecoin issuer Tether (USDT). The group called out Tether for its persistent lack of transparency regarding its U.S. dollar reserves, which the company claims back its stablecoin on a one-to-one basis. ... Read more
The fate of Caroline Ellison, former CEO of Alameda Research and key executive in the FTX collapse, will soon be determined. Ellison is slated to receive her sentence on September 24, 2024, after pleading guilty to a range of charges following the implosion of the FTX cryptocurrency exchange in December ... Read more
The United States Securities and Exchange Commission (SEC) has recently issued a cautionary statement regarding the potential repayment of creditors by the now-bankrupt cryptocurrency exchange, FTX. The warning centers around FTX’s consideration of using stablecoins as a medium for returning funds to its creditors. The SEC’s concerns were made public ... Read more
