John Griffin and Amin Shams, FinanceProfessors at the University of Texas and Ohio State University, stated thatthe price of the Bitcoin between March 2017 and March 2018 was manipulated.

Just like several researchers,the due wanted to think back. In theirrecent paper, they wrote, "This one large player or entity eitherexhibited clairvoyant market timing or exerted a huge price impact on Bitcointhat is not observed in aggregate flows from other smaller traders.”

They are not the first to commentabout the whale manipulation. Tetherresponded immediately and called the paper from Griffin and Shams as that isweakened and flawed. Tether states thatthere are methodological flaws in the paper, and they stated that theprofessors had given a clumsy assertion.

Tether also stated that theconclusions were based on incomplete data sets. The authors openly admitting that they are not having accurate dataabout the timing of the flow of capital between cryptocurrency exchanges hasbeen criticized for purportedly giving conclusions based on “cherry-picked”data.

The Griffin's attempt has beencalled a "False Bravado.” Tetherstates that their community and affiliates do not use Tether tokens tomanipulate the cryptocurrency market. The quadrupling of Tether token issuance is not due to manipulationinstead due to the comprehensive scale utility of Tether in the cryptocurrencyecosystem.

Anyone and everyone can influencethe price of cryptocurrencies. However,the scale at which the impact will be known to all is a different matter. Withthe Duo calling Tether as the only entity to have caused the manipulationwithout appropriate data, and Tether now refuses the claims. Tether has been under scrutiny for quite sometime. And similar accusations are set tocontinue.

The USDT tokens are fully backedaccording to Tether. This claim,however, is intriguing. The details ofthe actual cash holdings have not been declared as of yet.

Tether has meanwhile declared their support for Peter McCormack in a lawsuit versus Craig Wright, self-proclaimed Bitcoin (BTC) creator.

Stuart Hoegner stated on November08, 2019, “Wright has had myriad opportunities to prove that he is Satoshi andhas not definitively done so.”

Ranking fifth in thecryptocurrency market, the market capitalization is currently at $4,114,863,720USD. The 24 hour volume is recorded at $25,077,101,538 USD. The circulating supply is at 4,108,044,456USDT. The total supply is at4,207,771,504 USDT.

Tether was created to serve thepurpose of being a stable dollar substitute known as “stable coins.”