Tether, Bitcoin and Chinese Commercial Paper at Scale

Tether, Bitcoin and Chinese Commercial Paper at Scale
For critics of Tether, the new economy of digital assets is based on the world’s oldest profession: real estate speculation.Crypto markets took a dip Thursday just around the time it was reported that China’s Evergrande Group was on the verge of defaulting on a bond payment. While the embattled housing giant ultimately made its scheduled payment of $148 million, questions persist about the long-term prospects for it and other real estate developers in China. Bitcoin, meanwhile, remained above all-time highs by about 5.5%.This article is excerpted from The Node, CoinDesk’s daily roundup of the most pivotal stories in blockchain and…