Every time there is a Bitcoin rally, Tether mints new USDT tokens. These tokens further get distributed to cryptocurrency exchanges and further to other addresses.
A few hours before PayPal announced their move and BTC price rallied 150 million USDT were printed. As usual there were those who stated that it was related to some kind of market manipulation. However, Paolo Ardoino acknowledged the move as unissued “inventory replenishes” on the TRON network.
Analysts have always pointed to the chicken and egg debate on whether the issuance is related to a rally happening or in response to the increasing demand.
Paolo Ardoino recently tweeted: “A few people in the industry told me that some @tether_to competitors are going around saying that they’re better because they are regulated. It’s sad how many lies people tend to spread as last resort to save their businesses. (Btw Tether is registered with FinCEN and regulated)”
In response, one of the Tether community member stated, “Paolo please explain it to @IvanOnTech which every day has something negative to say about @Tether_to.”
Other users also expressed on how Its crazy about how much fake information and wrong knowledge is around. Few days ago he pointed to how a friend told home that he is afraid to stay flat in Tether because he doesn’t trust it. After 2 hours of explaining him and showing him real facts he understood that he can use Tether without being scared.
When talking in this regard, Sydney Ifergan, the crypto expert tweeted: “Tether (USDT) onlookers are forever concerned about USDT supply, auditing, and the status of the bank balance.”
There are questions like Tether Limited is regulated by FinCEN, but who regulates Tether International Limited? Some stated, “Tether is registered with FinCen – regulated not sure.”
Someone who tried to clarify pointed to stating, Bitcoin did not ask for permission. Bitcoin operates outside of the control of any person, government, regulator, or jurisdiction.
Meanwhile Paolo Ardoino opined Bitcoin + Tether + Liquidity Great Job and what more do you want.
Of note, Bitfinex supports pNetwork Token, PNT(EOS) and lists pTokens’ pMKR, pLINK and pYFI. Deposits and withdrawals (on EOS and Ethereum) of $PNT, $pBTC, $pLTC, $pETH, pMKR, pLINK and pYFI are now available on Bitfinex through the pTokens network.
Talking about derivatives, traders are capitalizing on the rising Bitcoin dominance. For those, who do not know Bitfinex, it is an advanced veteran cryptocurrency exchange well suited for advanced traders. They facilitate traders with the option for margin trading and lending. Also, Bitfinex does not accept US customers.
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Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9
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