RATE Group | Tether Prints 50 Million USDT, The Controversy Continues
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Tether Prints 50 Million USDT, The Controversy Continues

14 Aug Tether Prints 50 Million USDT, The Controversy Continues

Posted at 00:39h in Ethereum News by

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Tether is the project that you either love, hate, or know nothing about. For individuals falling into the latter category, here’s a quick overview of this often controversial topic.

Tether Remains A Controversy 

Tether is a stablecoin that is inherently tied to the value of one U.S. dollar and is reportedly backed by legitimate reserves. Many use USDT as a method to find solace in a bear market, as you can trade your altcoins/Bitcoin into Tether, in an act fittingly named “tethering”, to maintain the dollar value of your holdings.

Despite the fact that USDT has quickly become the 9th most valuable project in the industry, many remain skeptical about the funds behind the project, as the Tether organization has been slow to procure the documents that show that it holds $2.5+ billion in its reserves. While the Tether organization, which has been linked to Bitfenix’s leadership team, fired its auditors earlier this year, it has since shown some evidence to suggest that there…

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