Crypto News

This move has sparked controversy and skepticism in the crypto community, with many questioning the impact on the market and the true backing of Tether's USDT. Tether's Controversial History Tether, also known as USDT, is a stablecoin that is pegged to the US dollar at a 1:1 ratio. It is issued by Tether Limited, a company closely associated with the cryptocurrency exchange Bitfinex. However, Tether has been a subject of controversy since its inception in 2014. The main issue surrounding Tether is its lack of transparency and proof of backing for its USDT tokens. The company claims that each USDT is backed by one US dollar held in reserve, but skeptics have raised concerns about the legitimacy of this claim. Tether has also faced allegations of market manipulation and artificially inflating the price of Bitcoin through its USDT issuance. Impact on the Crypto Market The recent minting of 1 billion USDT has raised concerns about the potential impact on the cryptocurrency ma...