Tether Hasn't Issued Any USDT For 2 Months

USDT tokens printer stopped immediatelly after the mail from US CFTC
19 March 2018   240

On Tuesday, January 23, Tether Ltd suspended the issue of USDT tokens. It was on that day that the mail delivered a summons from the US CFTC to the company's representatives, TrustNodes reports.

It is worth noting that for eight months prior to this date, Tether launched more than 2 billion USTD on the market - almost every week the issue increased by 100 million units, and in a few days in January, 600 million were issued.

The reason why the company stopped issuing new tokens remains unknown - it may be due to unfavorable market conditions or the investigation of the CFTC.

Recall, on January 30, the news of the court summons received by Tether and Bitfinex, brought down the price of bitcoins below $ 10,000.

Bitfinex Shareholder Claims Tether Backed with $3B

According to investor and shareholder Zhao Dong, he saw the balance of the Tether and Bitfinex bank account
06 February 2018   228

Zhao Dong, a well-known Chinese investor and shareholder of Bitfinex, claims to have seen with his own eyes the balance of the Tether and Bitfinex bank account during a recent meeting with Bitfinex Financial Director Giancarlo Devasini. This is reported by Bitcoin.com.

Lao Mao (CEO, Big One) (and I) just had a look at the USD account of Tether and Bitfinex in Giancarlo’s (Boss of BFX, CFO) room, in which Tether’s account holds 1.8x billion USD and Bitfinex holds 1.1x billion USD. The total number of the two accounts is around 3 billion USD, which is beyond the current circulated supply of USDT. This debunks all rumors around USDT.

Zhao Dong

Shareholder, Bitfinex

The chief executive officer of Big.one published a blog post following the trip, in which an interview between Mr. Devasini and one of Lao Mao’s associates is made public. 

The Bitfinex team has aroud 50 people. The Tether team does not work for money. As early as bitcoin investors, the team has a sense of responsibility and mission. Tether can no longer be limited to the US dollar. Company can use the euro, the Japanese yen and other fiat currencies.

Giancarlo Devasini
CFO, Bitfinex

He also noted that the company does not intend to disclose all the details of its relations with banks, which is supposedly a reciprocal measure of pressure from the US banking industry, which in every possible way interferes with Tether's activities.

From the interview, Mao concluded that "we can trust Tether and USDT."

The mood of Mao relative to the Tether tokens has recently changed markedly. In November of last year, he urged the exchange to not integrate couples with USDT.

In addition, the authors of the report criticized Tether and Birfinex for lack of transparency in their relations with banks, and specifically Tether - for the fact that the issuer presented audits of the auditor Friedman LLP as full-fledged audits, although they were not.