Day: July 2, 2018

Kraken Strikes Back at Tether Price Manipulation Claims

Cryptocurrency exchange Kraken is calling foul on allegations that its tether (USDT) markets are frequently characterized by trading activity commonly associated with wash trading and other forms of market manipulation. Last week, Bloomberg published an investigative report examining trades involving tether, a “stablecoin” allegedly backed by physical U.S. dollars at a 1:1 ratio. Controversy has long swirled around USDT — as well as its creator, the Caribbean-based Tether — with critics levying accusations that Tether operates a fractional reserve, using un-backed tokens to manipulate the bitcoin price. Tether’s recently-released “transparency…

Crypto Market Remains Above $250 Billion as 0x, Status, and Tokens Surge

The valuation of the crypto market has remained above the $250 billion mark, closing July 1 at $255 billion. Tokens have performed particularly well, recording gains in the 10 percent region. 0x, Status, Funfair, and Aion The top performers of July 2 were ERC20-based tokens 0x (ZRX), Status (SNT), Funfair (FUN), and Aion (AION). ZRX demonstrated the largest gain amongst major digital assets and tokens, seeing a 14 percent increase in its value against the US dollar and bitcoin. Throughout last week, amidst a drop from $6,500 to $5,800, the…

Charts: SEC Data Shows Token Filing Figures Just Keep Rising

Regulatory uncertainty or not, data from the SEC indicates the number of filings related to token sales continues to trend upward. Indeed, a review of SEC data through June indicates that the SEC has received nearly 100 filings for token sales (93) in the past year, beginning with four in August 2017 and building to an all-time high of 15 in May. Many of the filings reviewed by CoinDesk related to sales of Simple Agreements for Future Tokens, or SAFTs, which essentially serve as promises for tokens at a later date.…