ADVERTISEMENT
NewsLogical
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • Finance
  • XRP News
  • Price Analysis
  • Coin Guide
  • About Us
    • Contact Us
    • Team
    • Privacy Policy
    • Editorial Policy
    • Write for Us
No Result
View All Result
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • Finance
  • XRP News
  • Price Analysis
  • Coin Guide
  • About Us
    • Contact Us
    • Team
    • Privacy Policy
    • Editorial Policy
    • Write for Us
No Result
View All Result
NewsLogical
No Result
View All Result
Home Altcoins

After Doling out Exotic Cars, TRON (TRX) Suspends USDT-TRON Rewards over Bitfinex Issue

by Olayode Yusuff
May 1, 2019
in Altcoins, Cryptocurrency
0
With Decentralization, Tron (TRX) Anticipates Better Platform Amid YouTube 1 Hour Downtime
0
SHARES
56
VIEWS
Share on FacebookShare on Twitter

Not long after doling out a slick brand new Mini Cooper, 2 Tesla motors, and sharing some portion of $20 million, TRON (TRX) has suspended the USDT-TRON rewards it embarked upon.

According to a release by the TRON Foundation, the recent news revolving around Bitfinex and Tether resulted in the suspension of the planned USDT rewards program.

However, the foundation promised to continue the reward programme the moment there are more information regarding the issue.

While the decision was not easy for TRON, according to Justin Sun, the creator of TRON and founder of TRON Foundation, the team is still keen on the right thing and the best for the network, and will look into the Bitfinex and Tether issue deeply to see which option is favourable to the TRON ecosystem.

“My team and I have been focused for months on bringing stability and liquidity to the TRON community,” Justin Sun said.

“TRON’s focus has always been to provide the best open protocol, infrastructure, and community so that all use cases including stable coins can build on top of TRON.”

Meanwhile, TRON will still continue technical support for USDT and the swap from Omni-based USDT to TRON-based USDT.

Bitfnex-Tether 74% Backed By Fiat

Bitfinex has disclosed that Tether USDT is now 74% backed by fiat as opposed to its earlier proclamation that the stablecoin is backed by one USD.

In an affidavit by the company on March 30, it was indicated that the stablecoin is backed by 74% of its fiat equivalent, causing uproar in the cryptocurrency.

The news confirming that Tether is not completely backed by fiat came after New York Attorney General alleged Bitfinex of involving in shady deals that contraveins the state’s law after it was reported that the exchange used Tether to cover up over $850 million losses.

However, Bitfinex who said the allegation is baseless, is now been rumoured to be planning an exchange token to cushion the effect of the loss.

Tags: Is Google Play not considering Tron (TRX)?Tron (TRX)Tron (TRX) - BiTtorrent 1000 giveawayTron (TRX) 2019Tron (TRX) accelerator ProgramUSDT-TRON
No Result
View All Result

Highlights

Elon Musk Loaded Up In Dogecoin before Pumping Bitcoin – Peter Schiff

Crypto Investor Explains Why Cardano will Soon Topple Ethereum

Cardano’s IOHK Rebrands, Enters Final Stages of a Large Government Contract

Analyst Explains why Bitcoin Price Could Crash to $6,400

Online Search for “Dogecoin” Surpasses “Bitcoin” in United States

PayPal Q4 Earnings Report Shows Users More Active after Buying Cryptocurrencies


NewsLogical Inc. is a U.S.-centric firm established in 2019 with the aim of providing resourceful and up-to-date cryptocurrency and blockchain information.

Email: info@newslogical.com

Read More.

Dislciamer


Contents on NewsLogical.com are only for informational purposes and should not be construed as financial or investment advice.

Trading cryptocurrency is considered a high-risk activity that requires technical knowhow because digital currencies are generally volatile.

Contact financial experts for guidance before making any cryptocurrency investment decision.

Read More.

About us

  • About
  • Contact Us
  • Disclaimer
  • Editorial Policy
  • Privacy Policy
  • Team
  • Write for Us
No Result
View All Result
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • XRP News
  • Price Analysis
  • Coin Guide
  • About
    • Team
    • Editorial Policy
    • Privacy Policy
    • Write for Us