Crypto Week in Review: Market Shakes Off More Tether (USDT) Drama
Each Sunday, we breakdown the most important crypto market news from the past week for SludgeFeed Premium members, including key events and stories you might’ve missed from a variety of news outlets.
Top Headlines This Week ?
New York State Attorney General Letitia James said Hong Kong-based iFinex Inc., which operates the Bitfinex cryptocurrency exchange and owns Tether Ltd., has been commingling client and corporate funds to cover up an $850 million loss, which occurred in mid-2018 and hadn’t been disclosed publicly.
Online stock brokerage E*Trade, which currently has more than 5 million users, is reportedly planning to add cryptocurrency trading to its platform in the near future.
According to a recent report by Bloomberg that cites individuals familiar with the matter, E*Trade will start by adding Bitcoin (BTC) and Ethereum (ETH) and is considering additional cryptocurrencies for future addition.
Nike (NKE) may very well be gunning for next year’s Forbes’ list of billion-dollar companies using blockchain after the company recently filed a trademark application for “CryptoKicks.”
As first highlighted by the Portland Business Journal, the trademark application, which was filed on April 19, describes a digital currency and a members-only website and online marketplace for footwear and clothing among other things.
While not yet confirmed officially, a “Samsung Coin” could find application as a payment means on the company’s app store and traded on cryptocurrency exchanges. The company previously revealed that its flagship Galaxy S10 smartphone will have a built-in cryptocurrency wallet.
Brave Software, the company behind the Brave Browser and Basic Attention Token (BAT), revealed Wednesday that users can now opt-in to Brave Ads to receive 70% of the ad revenue as a reward for simply browsing the internet.
A majority vote to increase fees on programmatic lending platform MakerDAO has passed an initial round of polling today.
This time, the winning vote is to increase fees by 2%, which, in comparison to past weeks, is a comparatively small increase to the usual 3 or 4%. As is custom, the 2% increase will undergo a second round of polling starting tomorrow and be executed once a certain threshold of voter participation is met.
These “Stability Fees” are applied to all loans taken out through the MakerDAO system for dollar-pegged stablecoin DAI. At present, the rate at which fees accrue on the total amount of DAI loaned is 14.5%.
Excitement hit the crypto community on Monday after a TD Ameritrade (AMTD) user claimed that he purchased 1 Bitcoin directly through his account. The leaked test integration was corroborated Tuesday by Charlie Lee, who tweeted, “TD Ameritrade is testing both BTC and LTC trading on its brokerage platform.”
Video of the Week ?
7-Day Market Performance ?
- Top-100 Index (ALT100): -5.10%
- Exchange Tokens (ALTEXC): -1.54%
- Privacy Coins (ALTPRV): -11.21%
- Masternodes (ALTMSN): -11.81%
Market Movers ?
More Headlines ?
Disclaimer: This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.