Welcome to The Daily Forkast, October 8th, 2021, presented by Angie Lau. For the latest in blockchain & crypto news. On today's show:
00:00 Coming Up
00:34 Tether fires back on Bloomberg backing claims.
02:06 New Zealand’s Easy Crypto closes Series A funding round.
03:19 Music NFTs getting easier for the non-crypto savvy.
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First up, Tether responded quickly to Bloomberg's claims, saying the article is, quote another attempt to undermine them. As well as claiming Tether is not fully backed, the Bloomberg article claimed the company is using its reserves to make crypto bank loans. Its alleged Chief Financial Officer, Giancarlo Devasini, used company reserves to make investments which would undermine Tether's claims the token is fully back to 100% of the time. Tether denied this, pointing to its quarterly assurance attestation issued in August. Reporter Zeke Faux also canvas Wall Street traders to see if any had ever seen any trades made by the company that supposedly holds US$30 billion in commercial paper short term loans. He said that as none of them had, eyebrows should be raised. Tether responded by saying the company's track record speaks for itself and questioned the reliability of a major source - John Betts, who was fired as Tether's banker. It also highlighted an ongoing court case where he is accused of self-dealing at the expense of customers. Tether has been in legal trouble in the past. In February, it settled an investigation by the New York State Attorney General's Office, examining whether it and sister firm Bitfinex sought to cover up an US$850 million loss in funds. Neither company admitted wrongdoing but were required to submit quarterly reports on their reserves as part of the settlement.
Meanwhile, New Zealand's Easy Crypto has closed an US$11.7 million series A funding round.
Led by sovereign backed Nuance Connected Capital. The company says the funding round was oversubscribed by 50%. The exchange says in addition to the successful funding round, a further investment of almost US$7 million has also been indicated by fund managers for a series A plus round. Easy Crypto has recorded over three quarters of a billion U.S dollars in sales since it was established three years ago, and says its user numbers have multiplied five times in the past 12 months. The company told Forkast.News, New Zealand has a lot to offer the crypto space, saying regulation is evolving at a similar speed to Australia, with discussions starting to get underway in parliament. As a future government goals, Butler says an IPO is on the radar, but that's a long term aim. In the meantime, the focus is on making products better for customers.
And finally, confused about how to support your favorite musician in the ever growing NFT space? Worry not. Things are getting easier. Timmy Shen takes a look at what fans and the industry are doing to help as part of a Forkast.News special series. With some music industry players and artists going out on NFTs as they look to generate new streams of revenue. It can be daunting for those who aren't crypto active to get involved. But while one expert told Forkast.News, it can be a steep learning curve, like minded fans are only too eager to support others, And some NFT platforms are making moves to help cut through the jargon and make it easier to lead people in. Taiwan based Our Song, which features huge collections of music related NFTs, is one of them. Our Song also says it has incorporated PayPal as a payment method to help make fans feel less intimidated.
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#Crypto #Blockchain #BlockchainTechnology #DigitalAssets #Cryptocurrency #DeFi #Tether #USDT #Bloomberg #Easycrypto #NFT #Music #NewZealand #Stablecoin #CryptoExchange
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RECOMMENDED PLAYLISTS:
Word On The Block: https://youtube.com/playlist?list=PLE...
The Daily Forkast: https://youtube.com/playlist?list=PLE...
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ABOUT FORKAST.NEWS
Forkast.News covers blockchain, DLT, cryptocurrency and other emerging technologies in a way that anyone can understand. We help you bridge the gap between the blockchain industry and the mainstream.
From NFTs to enterprise blockchain platforms, smart contracts to altcoins, Bitcoin to DeFI and beyond; Forkast’s blend of insight, analysis & daily blockchain news keeps you on the cutting edge of the digital asset revolution and the wider digital economy it both supports and disrupts.
00:00 Coming Up
00:34 Tether fires back on Bloomberg backing claims.
02:06 New Zealand’s Easy Crypto closes Series A funding round.
03:19 Music NFTs getting easier for the non-crypto savvy.
---
First up, Tether responded quickly to Bloomberg's claims, saying the article is, quote another attempt to undermine them. As well as claiming Tether is not fully backed, the Bloomberg article claimed the company is using its reserves to make crypto bank loans. Its alleged Chief Financial Officer, Giancarlo Devasini, used company reserves to make investments which would undermine Tether's claims the token is fully back to 100% of the time. Tether denied this, pointing to its quarterly assurance attestation issued in August. Reporter Zeke Faux also canvas Wall Street traders to see if any had ever seen any trades made by the company that supposedly holds US$30 billion in commercial paper short term loans. He said that as none of them had, eyebrows should be raised. Tether responded by saying the company's track record speaks for itself and questioned the reliability of a major source - John Betts, who was fired as Tether's banker. It also highlighted an ongoing court case where he is accused of self-dealing at the expense of customers. Tether has been in legal trouble in the past. In February, it settled an investigation by the New York State Attorney General's Office, examining whether it and sister firm Bitfinex sought to cover up an US$850 million loss in funds. Neither company admitted wrongdoing but were required to submit quarterly reports on their reserves as part of the settlement.
Meanwhile, New Zealand's Easy Crypto has closed an US$11.7 million series A funding round.
Led by sovereign backed Nuance Connected Capital. The company says the funding round was oversubscribed by 50%. The exchange says in addition to the successful funding round, a further investment of almost US$7 million has also been indicated by fund managers for a series A plus round. Easy Crypto has recorded over three quarters of a billion U.S dollars in sales since it was established three years ago, and says its user numbers have multiplied five times in the past 12 months. The company told Forkast.News, New Zealand has a lot to offer the crypto space, saying regulation is evolving at a similar speed to Australia, with discussions starting to get underway in parliament. As a future government goals, Butler says an IPO is on the radar, but that's a long term aim. In the meantime, the focus is on making products better for customers.
And finally, confused about how to support your favorite musician in the ever growing NFT space? Worry not. Things are getting easier. Timmy Shen takes a look at what fans and the industry are doing to help as part of a Forkast.News special series. With some music industry players and artists going out on NFTs as they look to generate new streams of revenue. It can be daunting for those who aren't crypto active to get involved. But while one expert told Forkast.News, it can be a steep learning curve, like minded fans are only too eager to support others, And some NFT platforms are making moves to help cut through the jargon and make it easier to lead people in. Taiwan based Our Song, which features huge collections of music related NFTs, is one of them. Our Song also says it has incorporated PayPal as a payment method to help make fans feel less intimidated.
---
#Crypto #Blockchain #BlockchainTechnology #DigitalAssets #Cryptocurrency #DeFi #Tether #USDT #Bloomberg #Easycrypto #NFT #Music #NewZealand #Stablecoin #CryptoExchange
---
RECOMMENDED PLAYLISTS:
Word On The Block: https://youtube.com/playlist?list=PLE...
The Daily Forkast: https://youtube.com/playlist?list=PLE...
---
ABOUT FORKAST.NEWS
Forkast.News covers blockchain, DLT, cryptocurrency and other emerging technologies in a way that anyone can understand. We help you bridge the gap between the blockchain industry and the mainstream.
From NFTs to enterprise blockchain platforms, smart contracts to altcoins, Bitcoin to DeFI and beyond; Forkast’s blend of insight, analysis & daily blockchain news keeps you on the cutting edge of the digital asset revolution and the wider digital economy it both supports and disrupts.
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Francisco Gimeno - BC Analyst Tether continues complaining about latest Bloomberg article on the company, accusing them of strange financial practices. Not a new thing and they have already settled a case about something similar early this year in USA. Something to consider if we work in crypto. NFTs spaces continue to open initiatives, like supporting your favourite musicians or creators, while increasing the usability of these spaces too. these and other news in one of our favourite podcasts, Forkast.