Pro-Crypto Congressman Calls Tether Stablecoin “A Time Bomb” – February 8

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $43,481

Bitcoin price spiked as high as the mid $45,000s overnight, with price finding itself back in the $43,000 range to begin Tuesday.

Top-20 altcoins are slightly down over the last day of trading, as Ethereum falls 1%, BNB drops 5% and XRP continues to rally with an 8% gain.

Top Stories for February 8, 2022 πŸ”₯

πŸ‘‰ Pro-Crypto Congressman Calls Tether Stablecoin “A Time Bomb”

Pro-cryptocurrency congressman Warren Davidson has called Tether and its USDT stablecoin “a time bomb”, claiming that there is more reason for the SEC to be investigating it than Ripple.

Congressman Davidson noted Tether’s lack of transparency, acknowledging that a regulatory framework compelling disclosure would be beneficial towards protecting investors.

Davidson is a member of the committee that will be reviewing the President’s Working Group on Financial Markets’ stablecoin report later today.

πŸ‘‰ Aave Announces Launch Of Decentralized Social Media Protocol

Decentralized finance platform Aave announced the launch of its new social media protocol, Lens, today via Twitter.

The Lens platform has been described by founder Stani Kulechov as an open and composable protocol, which can be used by anyone to create non-custodial social media profiles and applications.

πŸ‘‰ FTX.US To Give Away Bitcoin In Super Bowl Ad Campaign

Cryptocurrency exchange FTX.US is giving away Bitcoin for free as part of its Super Bowl advertising campaign, with the amount of Bitcoin yet to be determined.

The quantity of Bitcoin up for grabs is determined entirely by the time at which the advertisement airs – the later the ad airs, the greater the size of the prize that will be given away.

The total prize will be split between four lucky winners, who need an account with the exchange to claim it.