Dr. Doom Accused Tether In BTC Price Pump

Nouriel Roubini, famous economist, accused Tether in market manipulating
26 January 2018   202

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.

UpBit to Compensate Possible USDT Losses in USD

South Korean cryptoexchange made an unexpected statement
07 February 2018   1226

South Korean crypto-exchange Upbit promised users to compensate to the full extent their possible losses in the event of the collapse of Tether and USDT. This is reported by Etoday ko.

We are aware of various suspicions about Tether. We compensate the entire amount to customers who have deposits in USDT on our exchange, in case of problems.
 

UpBit Team

Previously, users have repeatedly expressed doubts that Tether has the necessary amount of deposits in real US dollars to provide all the released tokens USDT.

At the moment of press, only 0.26% of whole Tether volume is being trade at Upbit. 

These are main USDT market parameters:

  • Average price: $1.01
  • Market Cap: $2 232 239 542 
  • 24h Volume: $5 161 760 000 

Few weaks ago, famous economist Dr. Doom accused Tether in recent Bitcoin price dump.