In the last few weeks, bitcoin has been holding fairly steady close to the $50,000 range. But Thursday afternoon, the price of bitcoin plunged almost to $41,000. Some prognosticators are tying the drop to the Fed’s announcement on interest rate rises. Of course, the rest of the market went with bitcoin, leading to a $1 trillion loss in total market value since November. Still, bitcoin was the best performer of the top 5 cryptocurrencies by market cap.
Last June, CoinDesk filed a Freedom of Information request with Tether pertaining to documents related to Tether’s breakdown of reserve assets. Tether took the request to court and has asked it to deny CoinDesk’s request. Now, CoinDesk is entering the lawsuit to appeal to the court on its own behalf. Tether then turned to an authority higher than the court to make its own appeal against CoinDesk—the Twittersphere. It does make sense. If you ask your wife to show you what’s in her purse and she files for divorce, then you ask the judge to tell your wife you have every right to see the content of her most private leather bag, the most logical response is for your wife to shout to the world, “I love my husband, but the scambug should not be looking in my purse!” Please, judge, please don’t make me show him what’s in my purse!
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