Tether FUD Again..?? Tether Has enough USD to Back their Tokens, says Official
An interview with Tether’s general counsel , law firm Freeh Sporkin & Sullivan LLP had access to two of Tether’s bank accounts for weeks. they released the amount of dollar holdings as of June 1 st.
he bank accounts will not be named due to privacy..
Tether and crypto exchange Bitfinex, which share a CEO, had reportedly received subpoenas from U.S. regulators on Dec. 6, 2017, with the impetus for them still unclear. The cryptocurrency again fell under scrutiny from the crypto community in the wake of dissolving their connection with an auditor before the official audit was released.
At the end of May, Tether had minted another 250 million USDT ,this become more suspicious.
In response to the claims of Bitcoin market price manipulation, Tether CEO J.L. van der Velde told Bloomberg that the FUD are not true,
"Despite speculation, we have consistently stated that Tether is backed by USD reserves at or exceeding the Tethers in circulation at a given moment, and we’re glad to have independent verification of this to answer some of the questions posed by the public."
in my opinion, it is very difficult to back it by $2.6 Billions that is too in liquid cash.
so stay away from it.
bubble may burst anytime
Yea ,,this is a common thing, $2.6 billions , a very large amount of money..