Crypto Daily News(2023-10-26)
I have some juicy News for you today
First, we have a shocking revelation from the New York Attorney General, who has sued Gemini Trust and Digital Currency Group for allegedly defrauding investors out of more than $1 billion. The lawsuit claims that these firms manipulated the prices of Bitcoin and other cryptocurrencies using fake trades and market data. This is a serious blow to the reputation of Gemini, which is owned by the famous Winklevoss twins, and DCG, which is one of the largest investors in crypto startups. How will this affect the crypto market? Will the regulators crack down on more shady practices? ⁶
Next, we have some exciting news from Tether, the controversial stablecoin issuer. The new CEO, Paolo Ardoino, has announced that Tether plans to publish real-time data on its reserves in 2024. This means that users will be able to verify that every Tether token is backed by an equivalent amount of US dollars or other assets. This is a big step towards transparency and accountability for Tether, which has been accused of inflating the crypto market with unbacked tokens. Will this move restore trust in Tether? Will other stablecoins follow suit? ³
Finally, we have some bullish predictions from experts on some of the hottest crypto projects right now. According to them, Ethereum (ETH), Solana (SOL), Tonkoin (TON), Avalanche (AVAX), Chainlink (LINK), and ScapesMax (SCMX) are all set to explode this year. They cite various reasons for their optimism, such as scalability, innovation, adoption, and community support. These projects are all aiming to revolutionize different aspects of the crypto ecosystem, such as smart contracts, decentralized applications, interoperability, oracle networks, and gaming. Which one of these projects are you most excited about? Which one do you think will perform the best? ⁴
Questions:
- What do you think about the New York AG's lawsuit against Gemini and DCG?
- Which stablecoin do you trust more: Tether or USDD?
