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Delving into captivating crypto narratives, revealing breakthroughs in decentralization, and offering astute evaluations within the digital assets landscape.

Tether and Bitfinex confirm USDT is not fully backed by fiat, only 74% of tethers backed with cash

Legal representatives for Bitfinex and Tether confirm the widely held suspicion that USDT is not one-to-one backed by US dollars. Court documents confirm tethers are only 74 percent backed, and those holding tokens are โ€œsubject to the risk of default, insolvency, inability to collect, and illiquidity.โ€ Coming Untethered In February of 2019, Tether updated the […]

Tether and Bitfinex confirm USDT is not fully backed by fiat, only 74% of tethers backed with cash

Why Vitalik Buterin thinks Ethereum and DeFi will disrupt finance

Vitalik Buterin asserted that finance is likely the first sector that will be disrupted by blockchain. The advent of decentralized finance (DeFi)โ€”with projects such as MakerDAO, Augur, Uniswap, and Etheriscโ€”has the potential to disrupt the โ€œinsanely inefficientโ€ sector. Is DeFi Ethereumโ€™s Killer App? Vitalik Buterin said while delivering a talk at ETHCapeTown 2019: โ€œIf you […]

Why Vitalik Buterin thinks Ethereum and DeFi will disrupt finance

Washington State signs bill recognizing blockchain technology into law

On Apr. 26th, Washington State Governor Jay Inslee signed SB 5638โ€”an act โ€œrecognizing the validity of distributed ledger technologyโ€โ€”into law. The Act encourages the development of blockchain, recognizes its use in commerce and digital signatures, and amends legislation to provide definitions for the technology. The original purpose of the Washington Electronic Authentication Act was to […]

Washington State signs bill recognizing blockchain technology into law