Independent Ratings Agency Alerts Investors About Dangers of Tether

Independent Ratings Agency Alerts Investors About Dangers of Tether

Another outside observer of the controversial tether cryptocurrency is warning about the dangers it presents for the uninterrupted operation of USDT exchanges. Weiss Ratings is seeking to educate investors on the systematic risk tether introduces to the ecosystem.

Also Read: Faced With Criticism IOTA Fans Try to Bully Growing List of Detractors

Inherent Risks of Blind Trust

Independent Ratings Agency Alerts Investors About Dangers of TetherWeiss Ratings, an independent U.S. agency which recently published letter grades for cryptocurrencies, has issued an alert to investors about the dangers of tether (USDT). It highlights common fears about the stablecoin which is claimed to be fully covered by U.S. dollar reserves.

“The big issue: There’s never been an audit, and the folks behind Tether has been quite shady when asked. They have continuously claimed their tokens are backed 100% by actual dollars, yet they have failed to present any evidence to support this claim. On social media, there appears to be consensus that what Tether is actually doing is running a fractional reserve system. In other words, most observers claim they DO NOT have the dollars to back up all those Tether coins. I tend to agree. It’s just too suspicious,” says Weiss analyst .

What Happens When the Feds Stop USDT Printing?

Independent Ratings Agency Alerts Investors About Dangers of TetherWeiss explains how the importance of USDT to the entire ecosystem is that many non-fiat exchanges (like Binance or Okex) use it as a proxy for real dollars in trading. Because of this, it is the third most traded cryptocurrency and the only one with trading volumes that regularly exceed its market cap. These exchanges are thus dependent on tether for liquidity and put investors at risk if any government decides to pull the plug out of its printers. Some consider this to be a likely scenario under U.S. law.

“The consequences of hanky-panky could be far-reaching. What happens if Tether does turn out to be fraudulent? Or what happens if a major government determines that cryptocurrencies like Tether are being used by exchanges to avoid regulations? What if this large source of liquidity suddenly evaporates?” asks. “Conceivably, it could cause exchange failures. It could drive investors to liquidate their positions, causing sharp declines in market prices.”

Should cryptocurrency investors worry about the continued liquidity of USDT exchanges? Tell us what you think in the comments section below.

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PR: Revain Token Gets Listed on OKEx

Revain Token Gets Listed on OKEx

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. does not endorse nor support this product/service. is not responsible for or liable for any content, accuracy or quality within the press release.

Moscow, Russian Federation

Revain is delighted to announce that it’s token just got listed on one of the world’s largest cryptocurrency exchanges OKEx. We were working closely with the OKEx team in the past few weeks to finally make it happen. For Revain, OKEx will represent the largest exchange by any metric including trading volume and audience size. As everywhere else, you can find Revain’s symbol on OKEx exchange as R. Trading has already started.

About Revain

Revain is aimed to revolutionize online reviews using blockchain technology. Its platform is designed for accumulating authentic user reviews on projects and startups that have concluded their crowdfunding / ICO stage. The platform is bringing to life the service that will finally allow businesses to receive detailed and genuine feedback about their projects, while users will get access to other people’s experience with ICOs and share their own insights as well. The platform will be aggregating information on token dynamics and major milestones in startup’s development.

Revain released version 0.4 of the platform in January 2018 with a target to deliver full release 1.0 as early as Q2 2018. Using blockchain technology, Revain creates an economic model that rewards users for creating honest reviews online through its token RVN. RVN remains as a stable internal token thanks to a nonlinear conversion mechanism based on R, the token that is tradable and available outside the platform. The entire system remains transparent, incorruptible and immutable thanks to its reliance on the Ethereum platform.

Revain platform is available on
Find out more about Revain:


About OKEx
OKEx is one of the most popular digital asset trading platforms around the world. The core team of OKEx consists of people from world-recognized companies such as Alibaba, Tencent and Huawei. OKEx believes that the core principles of Bitcoin, the blockchain, the distributed ledger, and smart contracts can reshape the ways in which people trust each other. This transformation will eliminate barriers to transactions, increase the efficiency of transactions across society, and eventually have a significant impact on the global economy.

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This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Markets Update: Cryptocurrencies Start Forming a Well Defined Uptrend

Markets Update: Cryptocurrencies Start Forming a Well Defined Uptrend

Cryptocurrency markets are starting to slowly inch back upwards after many digital assets lost roughly 40-70 percent of the values they held two months ago. Bitcoin core markets (BTC/USD) reached a low of $5,920 this past Monday, but as the weekend approaches the price has regained strength hovering around $8,250-8,450. Moreover, the price of bitcoin cash (BCH) has jumped considerably, gaining over 23 percent today with an added $1.4Bn worth of trade volume combined to the intraday.

Also Read: China Censors Cryptocurrency Ads on Search Engines and Social Media

Is the Bear Market Over?

Markets Update: Cryptocurrencies Start Forming a Well Defined UptrendSome individuals speculate the bearish cryptocurrency dumps that plagued markets for six weeks seem to be over. Most digital assets saw some excellent percentage gains yesterday on February 8, but during overnight trading sessions there were some considerable highs and lows. Currently, average BTC/USD prices are holding above the $8K price region and trade volume is roughly around $10.2Bn over the past 24-hours. The top five exchanges trading the most BTC today include Okex, Bitfinex, GDAX, Upbit, and Bitflyer. The Hong Kong-based exchange Binance has been having upgrade issues and had to stop trading until the platform is fixed. At the company’s current rate, they estimate trading activities will resume at 2018/02/09 4 am UTC.

Right now the Japanese yen is the most traded currency with BTC capturing 48 percent of the day’s trade volume. This is followed by the U.S. dollar (31%), tether (USDT 7.5%), the euro (5.8%) and the Korean won (3%). Today the most traded cryptocurrencies swapped for BTC or vice versa include ETH, BCH, and XRP. Bitcoin core’s market capitalization dominates by 35 percent ($141Bn) of the $394 billion cryptocurrency market cap.

BTC/USD Technical Indicators

Looking at charts shows a considerable bounce off the $5,900 resistance point this past Monday. A well-defined uptrend has been forming on the 4-hour through 3-day charts. During last night’s trading sessions the weekly charts finally changed to a green spinner after a quick dip at 7:30 pm EDT. Additionally, the overnight push brought the 100 Simple Moving Average (SMA) above the longer term 200 SMA. The gap has continued to spread, and this indicates the path to the upside is still very much in the cards.

Markets Update: Cryptocurrencies Start Forming a Well Defined Uptrend
At 12 pm EDT, the price per BTC is $8,254 USD on the exchange Bitstamp.

The Macd is moving northbound, but the Relative Strength Index (RSI) and Stochastic are dipping showing temporary oversold conditions. Order books show there’s a good amount of resistance towards the upside between $8,750 and $9K. If bulls can manage to break this particular region by at least tomorrow that would likely be a decent ‘bullish indicator.’ On the back side, foundations are quite robust which means sell-offs will have a hard time moving faster unless key price zones such as $8,100 and $7,700 are broken.

Bitcoin Cash Jumps Over 20%

Markets Update: Cryptocurrencies Start Forming a Well Defined UptrendBitcoin cash markets have seen a considerable spike today, gaining 23 percent during the early morning trading sessions. The price has dipped a bit but is still above the 20 percentile region with a price of $1,180 per BCH this Thursday. BCH markets had seen about $2Bn worth of trade volume over the past 24 hours when yesterday the volume was a mere $600 million. The top five exchanges trading the most BCH today include Okex, Upbit, Hitbtc, Bitfinex, and Bithumb. The most traded currencies with bitcoin cash are BTC (67%), USD (13%), KRW (8%), USDT (7%), and the euro (1.5%).

BCH/USD Technical Indicators

BCH charts have followed a similar pattern with BTC markets and declined a touch more during the dip. However, today’s trading sessions are a different story as the extra decline has been erased. Other differences show the long-term 200 SMA is slightly above the 100 SMA, which means the path to the upside has touched significant resistance.

Markets Update: Cryptocurrencies Start Forming a Well Defined Uptrend
At 12 pm EDT, the price per BCH is $1,250 USD on the exchange Bitstamp.

Macd is heading down slowly, and RSI/Stochastic oscillators are showing oversold conditions presently. Order books reveal there are big sell walls above the $1,275, and if momentum can clear these orders then resistance will be a bit lighter. On the back side from $1,100 to 1,000 there is plenty of support for the next 4-6 hours unless a rapid sell-off takes place. If BCH bulls are persistent, then $1,300-1,350 price levels are attainable in the short term.

The Verdict

Overall the cryptocurrency community seems way more optimistic than a few days prior. Traders are still skeptical and believe markets are not entirely ‘safe’ from bears until $9K or $10K prices are obtained, signaling a good bull charge. The U.S. congressional testimonies from the SEC and CFTC showed some positivity that regulators would not try and stifle innovation. Further regulatory ‘crack down news,’ aka FUD from Asia, has been settling down some as well. According to Coinmarketcap, most of the top ten cryptos are following the same trend upwards but some tokens are having a difficult time recovering. It’s likely the current uptrends will be slower with a few scalps in between, but for now things look far better than they did days prior.  

Where do you see the price of BTC and other digital assets heading from here? Do you think cryptocurrencies will see more gains? Let us know in the comments below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”

Images via Shutterstock, Bitstamp, Bitcoin Wisdom, and Pixabay. 

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