Dr. Doom Accused Tether In BTC Price Pump

Nouriel Roubini, famous economist, accused Tether in market manipulating
26 January 2018   945

Famous economist Nouriel Roubini, also known as Dr. Doom, publicly called Tether tokens a scam, because they, in his opinion, are used for artificial pumping of the bitcoin price. Without these "criminal manipulations", the bitcoin rate would drop by 80%, Roubini says, referring to econometric research data.

Nouriel Roubini refers to the material at Bitcoin. com, where it is said that over the past few days, Tether has released USDT for $ 400 million. Meanwhile, miners generate new bitcoins daily for about $ 18 million.

Previously, numerous sources, including Bitfinex'ed, the main critic of Tether, repeatedly drew attention to the huge amounts of USDT being issued and that in fact they are not provided with anything.

Moreover, in its recent survey, which listed four reasons that could lead to the collapse of the crypto-currency market, CNBC mentioned Tether as a separate line.

Tether to Updated the USDT "100% Backed" Policy

Now, “reserves ... from time to time, may include other assets and receivables from loans made by Tether to third parties"
14 March 2019   145

The USDT token linked to the US dollar, as was assumed until recently, is fully secured with hard currency. However, the latest revision on the website of the issuer of stablecoin of Tether company says that the situation is now different.

The 100% Backed section at Tether websites says: “reserves, which include traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by Tether to third parties, which may include affiliated entities (collectively, “reserves”)."

At the same time, the company insists that each token is still pegged to the USD in the ratio of 1x1.

Earlier, Tether stated that all USDT coins are 100% secured by the US dollar. In part, these allegations at the end of last year were confirmed by the Bloomberg publication.

The new edition on the Tether website has already been commented on by users of Reddit. According to Toyake, you can now officially say that the USDT is not 100% guaranteed by the US dollar.