Topic: Hindenburg Research Announces $1,000,000 Bounty For Details On Tether’s Backing (Read 64 times)
October 19, 2021, 09:33:54 PM
Tether definitely has some strong supporters somewhere on the top of the hill. All this everlasting noisy around this coin and all these attacks and doubts are just a political show. Tether has some "license" for doing what they do now.
October 19, 2021, 08:16:26 PM
https://hindenburgresearch.com/tether/
Hindenburg has doubts about the legitimacy of Tether’s backing due to the company’s sparse disclosures.
Tether has been referred to as a “stablecoin” in the crypto space due to the company’s historical claims that it was equivalent to $1 USD and was backed 1-to-1 by “traditional currency” reserves.
Since those claims that garnered it “stablecoin” status were made years ago, Tether subsequently revealed that its coin was backed only by a small percentage of traditional currency, and that much of its backing consists of holdings in commercial paper issued by unnamed counterparties.
I believe that today nobody imagines that Tether is really 1:1 USD. But I believe that this attempt is not just for someone who wants to drop the price, but rather to better understand the environment before entering. Exchanges that use Tether should have a Legal liability.
Hindenburg has doubts about the legitimacy of Tether’s backing due to the company’s sparse disclosures.
Tether has been referred to as a “stablecoin” in the crypto space due to the company’s historical claims that it was equivalent to $1 USD and was backed 1-to-1 by “traditional currency” reserves.
Since those claims that garnered it “stablecoin” status were made years ago, Tether subsequently revealed that its coin was backed only by a small percentage of traditional currency, and that much of its backing consists of holdings in commercial paper issued by unnamed counterparties.
I believe that today nobody imagines that Tether is really 1:1 USD. But I believe that this attempt is not just for someone who wants to drop the price, but rather to better understand the environment before entering. Exchanges that use Tether should have a Legal liability.
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