Reportedly, it is very obvious that now a days the public support and defense of Tether is much stronger. 

Paolo Ardoino pointed to how, It’s a relief that now a days the public support and defense of Tether is much stronger along with hundreds of others.

Tether is progressing well ignoring their haters.  It is becoming important to make note of this point, because there is a widespread concern about whether Tether is a scam meant to enrich Bitcoin investors.  It is not only about USDT.  Almost every cryptocurrency has gotten under the lens of investigation and controversy as this can further fuel crypto bubble.

There has been a warning from the Financial Conduct Authority of the UK that crypto-investors “should be prepared to lose all their money.” So, any cryptocurrency in existence are marching beyond such challenges.

The cryptocurrency market is mostly built on speculation and Tether as a stablecoin is facilitating liquidity making transactions between various cryptocurrencies easy.  There are several days where Tether’s trading volume exceeded Bitcoin.

There are also widespread allegation on whether the attractive quality of USDT is really meant to artificially inflate the value of Bitcoin.  These interrogations and analysis continue. There are also allegations that state that Tether is a tool for cryptocurrency insiders to become rich soon.  There are questions on whether Tether is used to manipulate.

Tether is not Decentralized

Tether is not decentralized like Bitcoin.  it is established that one company owns, mints, and manages the Tether (USDT) supply and that it is not transparent. Scarcity is not an attribute of Tether as it is possible to mint as many coins as it wants. Being related to Bitfinex, a cryptocurrency exchange there are also allegations that Tether is used to buy other cryptocurrencies, organize unregulated trading, and even launder money.

Tether when commenting on the minting allegation have to state that they are doing it to fulfill the need. And, the regulators are continuing to watch closely.

Of note, there is an ongoing injunction which prevents Tether Holdings Limited from loaning funds to the Bitfinex exchange.

Further, there is a serious argument that Tether is a derivative representing the value of fiat currencies particularly the USD.  This because the asset derives its value and claimed legitimacy from an underlying asset, which is the USD.

Will regulatory threat attack Tether? How will 2021 be for USDT? We need to wait to see. The minting is continuing in bigger blocks.