What’s Bitcoin backed by?

What’s Bitcoin backed by? Asking what Bitcoin is backed by is akin to asking what the kilometer is backed by. As a lot as there’s utility for having standardised items by which we measure distance, the identical goes for items that measure worth. People have allowed despotic governments to impose dictatorships over cash. The closest…

The Greatest Responses to Donald Trump’s Declare That Bitcoin Is Backed by ‘Skinny Air’

The cryptosphere was rubbing its fingers with glee when U.S. president Donald Trump fired off a usually cantankerous tweetstorm on June 11 through which he took goal at Bitcoin, cryptocurrencies and Libra. Bitcoiners relished the sudden consideration directed in the direction of their sphere from the president’s 62 million-strong Twitter account, however took subject with…

Tether Updates Web site, Says USDT Backed by “Reserves,” Not Simply Money

Tether simply up to date its web site to make clear that every of its USDT tokens, which it used to claim had been “at all times backed 1-to-1 with conventional foreign money,” are backed by property aside from fiat foreign money. Now, the web site as a substitute reassures its patrons that it’s at…

Nasdaq Backed Blockchain Mission Raises $20 Million in Sequence B Funding

Nasdaq Ventures has led a collection B spherical of funding for the market-leading good contracts platform of Symbiont. Different companies that participated within the funding embody further new traders akin to Galaxy Digital, Citi, Raptor Group, and others. The funding will additional the objectives of the blockchain undertaking to create a sensible contracts platform for…