Dr. Doom Accused Tether In BTC Price Pump

Nouriel Roubini, famous economist, accused Tether in market manipulating
26 January 2018   404

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 Issue 250M USDT Tokens

After the new issue, the total number of issued tokens USDT reached 250 billion
21 May 2018   113

Tether conducted an additional issue, releasing 250 million new USDT tokens This is reported by CoinTelegraph.

USDT are the so-called Stable Coin (stable currency) - tokenized dollars, secured, as the company claims, by the national currency of the United States.

This is the second large USDT issue in recent months - in March the company issued 300 million coins.

After the new issue, the total number of issued tokens USDT reached 250 billion, the cryptocurrency community still doubts that all these coins are really provided with US dollars.

One of the critics of Tether is the anonymous blogger, Bitfinex'ED, who in March 2018 revealed a link between the release of new Tether coins and the rising prices for bitcoin and Ethereum. After the current release of new USDT tokens, the rate of bitcoin for an hour increased by about $ 120, and Ethereum - by $ 10.

Earlier, the Bitfinex exchange in Hong Kong, which is known to have close ties to Tether, threatened Bitfinex'ED with a lawsuit. However, since the audit of the company was not conducted, the reliability of the ratio 1 USDT to $ 1 is still not proven.