The NY Attorney will be deciding on the proceedings of the case or a final status update about Tether in less than a month’s time. A bulk of documents from iFinex Inc and Bitfinex Exchange representing their causes and explanations have made its way to the Attorney. The outcome of the case will influence the perception about the stable coin. It is important to note that Tether is considered to be an asset which influences a lot of the BTC’s price.
The production of the majority of the documents is now complete; however, reportedly some of the supplementary documents are yet to be given by iFinex.
Tether will be maintaining its status quo for until 30 days. Some of them were wondering on why no more minting since the deadline? They further asked are you able to? Or is it a condition of compliance with the order, preventing you? If the latter is true, are we to assume there won’t be any new tether added to the supply for the duration of the investigation?
The expectation is that a fine might be imposed on iFinex and Tether. There are exceptional numbers of investors who are taking to defending Tether very aggressively for a very long time. Bias is not unusual from narratives from investors. There is no denying that there are a lot of public support and defense than ever before. Regular requests for audits are continuing.
Meanwhile, Paolo Ardoino recently took to thanking the many people who stood up against the fear, uncertainty and doubt versus USDT.
Some are of the opinion that it is important to not hurt investors who are handling tether thoughtfully and necessarily to preserve our money.
The most negative investors feel that Tether will likely be crushed by authorities in next two years. However, the 2 years theory has been around for some time and despite USDT continues to dominate.
Tether (USDT) Aggressive Defenders
Aggressive defenders have to state that not many of them are able to understand on how much Paolo and Bitfinex are contributing to the Bitcoin ecosystem. If the Bitcoin ecosystem supported USDT the FUD will be dispelled soon.
There are other exchanges who are too busy shilling their own private blockchains and not even implementing SegWit and stated that unlike those Bitfinex is actually pro-Bitcoin. A decentralized transaction system takes lot of support from the people who use it failing which the system might suffer.
