Crypto Week in Review: Market Shakes Off More Tether (USDT) Drama

‘Shake It Off’ via Vevo / YouTube / Big Machine Records, LLC.

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 ?

Bitfinex Used Tether Reserves to Mask Missing $850 Million, Probe Says

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.

USDT/USD (CoinCodex)
E*Trade Reportedly Close to Offering Bitcoin (BTC) and Ethereum (ETH) Trading

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) Files Trademark Application for ‘CryptoKicks’

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.

Samsung Joins Corporate Giants Reportedly Eyeing Bespoke Crypto

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 (BAT) Will Now Pay You in Crypto to Browse the Internet

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.

MakerDAO Set to Increase DAI Fees Above 15% in Bid to Stabilize Stablecoin

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%.

TD Ameritrade Bitcoin (BTC) and Litecoin (LTC) Paper Trading Causes a Stir

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 ?

More: $58 Million Gone: Digitex Futures Crash 70% After CEO Postpones Launch

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 ?

Cosmos (ATOM) Price Jumps 45% on Binance Listing Announcement
Bitcoin (BTC) Chart Shows First Golden Cross Since 2015

More Headlines ?

Nexo Co-Founder Antoni Trenchev Isn’t Worried About Tether (USDT)
MMO-Focused Game Platform ‘The Abyss’ Announces ABYSS Token Discounts
Ontology to Launch Regulated USD-Backed Stablecoin PAX on its Blockchain
Beaxy Will Launch at Consensus 2019 During New York Blockchain Week
WAX (WAX) Introduces Genesis Tokens With Bonus Staking Rewards for 3 Years
Yelp (YELP) Now Lets You Filter for Businesses That Accept Crypto
Poloniex Adds Margin Trading for EOS (EOS) and Cosmos (ATOM)
CryptoKitties Parent Company Teases New Ethereum (ETH) Wallet
Circle’s SeedInvest Takes Step Toward Tokenizing Stocks With Trading License
TokenSets Launches With 6 Strategy Enabled Tokens
BlockFi Expands to India, Lowers Minimum Bitcoin (BTC) Requirement to Earn Interest
Decentraland (MANA) Unveils Customizable Metaverse Avatars
NextColony Sells the Most Expensive Collectible to Date on Steem (STEEM)
New Browser Extension ‘Moon’ Lets Users Pay With Crypto on Amazon
Serena Williams Unveils Her VC Firm, Which Previously Invested in Coinbase

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.

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