Cryptos rally today could be a two factor thing, a heavy oversold market or at least what some people feel is oversold. But more importantly tether still printing even more money another 20 million to be exact.
Have we yet to get any audit log from Tether ?
Lawsuits have been filed against Tether and have been proven they printed tether to get out of debt themselves.
A report shows 64% of tether is used for "fake" trading.
Let us not forget that the rally of 2017 was most likely a huge factor in what crashed bitcoin markets from 20,000 down to the levels we see today. At $4,000 tether got slammed hard and yes was proven to be printing money when they didn't have money to back it up simply to get out of debt.
Is tether up to old tricks again and artificially inflating the markets yet again ?
It's seriously possible since they have still gotten away with doing it from last time.
The amount of Tether being printed, used and traded to pump prices seriously scares me since it has yet to been audited. Those invested in Tether were promised MONTHLY audit logs to show transparency. We still have yet to see one and those hired to produce them backed out which normally means they found some serious issues and didn't want to complete the audit log. But due to contracts are unable to release their findings.
It seems like Tether is playing this game again and is becoming a huge powder keg that could rock the crypto markets to their core once again. It is just one of those things that is a matter of time.
What are you thoughts on Tether and the small uptick we saw today?