Tether Controversy Continues, Litecoin Halving Only 100 Days Away And Disney May Soon Enter The Crypto World — The Crypto2Cash Chronicle
Your daily dose of crypto and blockchain news, summarized by the Crypto2Cash team
Tether Controversy Continues
Controversy around the Tether Stablecoin continues, as the New York State Attorney General is reportedly building a case against Tether. The owners of the Bitfinex trading platform, who also control Tether, seem to have worked with customers from New York without owning a Bitlicense. There are also rumours that Bitfinex used the funds that are backing the Stablecoin to cover up for $850 million of lost client and corporate funds, however this has yet to be proven. The price of Tether saw a larger decrease following these allegations and the coin was timely trading at 98 cents.
Litecoin Halving Only 100 Days Away
The Litecoin block halving will take place around Aug. 6 and will see the reward going from 25 LTC to 12.5 LTC. Litecoin was one of the first Bitcoin hard forks and has only had one of these halvings in 2015. Back then, the coin saw a massive price increase of over 500 percent and as history tends to repeat itself in the crypto world, another price increase could be possible. The 6th largest cryptocurrency in total market cap has already experienced a steady rise in price, going from $22.54 up to nearly $100. Currently it is trading at $70 and has seen a slight decrease in price after hitting highs at the start of the month.
Disney May Soon Enter The Crypto World
American media giant Disney may soon enter the crypto world. According to the Korea Herald, Disney is the top contender in acquiring Nexon, the largest Korean Gaming Company. The company will sell a stake worth $13.2 billion, which includes stakes of Korbit, one of the oldest Korean crypto exchanges and Bitstamp, one of the only European based exchanges that has a BitLicense to operate in New York.
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