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Bitcoin continued to climb overnight and was trading up about 4.4% on Saturday morning at around $61,700.

Coindesk reported that bitcoin rivals Ethereum and Dogecoin were trading at $3,915 (+3.41%) and about 24 cents (+4.6.9%) per coin, respectively.


Cryptocurrency Tether and crypto exchange Bitfinex have agreed to pay $42.5 million to settle civil fees from the US Commodity Futures Trading Commission (CFTC) for allegedly making misleading statements and conducting illegal transactions, Reuters reported.

Bitcoin Tops $60K, SEC MULLS ETF Approval

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Firms trading as Tether have agreed to pay $41 million to settle CFTC fees they made misleading claims about Tether’s cryptocurrency stablecoin, the CFTC said in a statement on Friday. According to the regulator, several times, from June 2016 to the end of February 2019, Tether made misleading or untrue statements about whether it had enough USD reserves to fully back its USD-denominated Tether token.

In a separate order, firms trading as Bitfinex agreed to fine $1.5 million on charges that US clients illegally engage in retail commodity transactions on the exchange, Reuters reports. were not enough to prevent it from happening. The CFTC said it violated US law and entered into a 2016 settlement with Bitfinex on similar allegations.

Neither Tether or Bitfinex, controlled by the same parent company, accepted nor denied the findings.

In other cryptocurrency news, The Associated Press reported that 300 computers working nonstop at a geothermal power plant near El Salvador’s Tecapa volcano are performing complex mathematical calculations day and night for the cryptocurrency bitcoin.

President Nayb Bukele’s brainstorming pilot project, which made bitcoin legal tender in September, promises cheap, renewable energy for so-called bitcoin “mining”. Such operations, which have largely included industrial ones, have been harshly criticized elsewhere in the world for using enormous amounts of electricity and resulting carbon footprint.