Finance News
By Maheen Hernandez
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Tether (USDT) is it a Fraud?
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Stuart Hoegner, GC at Bitfinex and Tether reinstated on how we are aware of an anonymous Medium post entitled, “The Bit Short: Inside Crypto’s Doomsday Machine.
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He also pointed to how beyond its false claims about Tether token, this post really amounts to an attack on the entire cryptocurrency ecosystem.
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Someone who read the content stated, On January 9th, 2021, I liquidated my crypto position for USD.
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Yet another user pointed to how it seems to often be the case that those presenting cases against the ecosystem sold out at an earlier date and are now full of salt.
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While there is no question about the liquidity and stability offered by USDT and even the trust factor is super good, but all eyes are curious about the Audited and Verified stuff.
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Some of them were pulling at Stuart asking why either he or anyone else at Tether don’t write an article refuting its concrete claims with hard evidence.
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There is an insightful podcast about Tether with Gregory Pepin, Deputy CEO at Deltec Bank and Trust, which explores through a detailed discussion on whether Tether is a fraud.
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In this episode, he covers for how Deltec accounts for its reserves, and why they didn't show up on Crypto Anonymous's blog post where the dollars backing Tethers are held; how…
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Also, covers for how Tethers get created using Deltec; why USDT gets minted in very round numbers as opposed to very specific numbers that USDC is minted in; where the cash…
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