Tether (USDT) Breaking All Growth Records Whale Alerts Short and Long Position Important for Price DiscoveryOctober 1, 2020
Paolo Ardoino acknowledged stating a true story Tether in response to a recent Whale Alert 150,000,000 #USDT (150,473,390 USD) minted at Tether Treasury.
Paolo Ardoino also stated that in finance until you can’t go both long and short on a product, you won’t have a proper price discovery.
Tether is breaking all growth records. Paolo expressed that he loves that the entire stablecoin offering is expanding the overall monetary base. He pointed to how aggregate efforts from multiple companies are more likely to succeed than bringing this whole concept forward alone.
Tether continues to be the major innovation in the cryptocurrency space ever since the coming of Bitcoin. The overall community expectation is that the banks will accept it very soon and that it might be a normal payment method pretty soon.
Sydney Ifergan, the crypto expert tweeted: “I am watching Tether (USDT) closely ever since he said If it’s USDt ERC20 stuck in an address we should be able to recover it, but in order to be sure, please contact our customer support and we’ll try our best.”
A noncustodial Defi platform might not have the ability to help recover the lost funds as they are centralized. Centralized financial networks tend to have some control over the user funds. So, the fact that Tether was about to help recover funds clarifies that it is kind of centralized.
When suggesting a method to retrieve funds properly, “The only solution would be requiring, for each transfer, an additional signature provided by a Tether watchtower. Such [a] system would allow Tether to “freeze” funds. But burns of tokens on specific addresses are not possible.”
Tether (USDT) Clear about Vision Mission and Philosophies
Bitcoin Global in response to demand from customers have stated that the company is enabling USDT support alongside Bitcoin. They acknowledge that Tether’s USDT is the prominent stablecoin in the cryptocurrency industry. Thus, Bitcoin Global users will now be able to trade Tether’s USDT.
While all these success theories are doing the rounds, Weiss Ratings are cautioning investors against Tether (USDT). Weiss are working on the old story that Tether is not fully backed by fiat as the parent company claims. They are stating that Tether are running like the fractional reserve bank where the balances are held in private bank accounts, which are not publicly auditable.
However, the parent company of Tether are not in agreement with such criticisms. They seem to be clear about their vision, mission and philosophies.