The stablecoin Tether has
been the subject of controversy, speculation, and what
some are saying it could be “weaponized” in recent
weeks. Some have speculated the company’s lack of
transparency surrounding its dollar-backed crypto
offering could mean insolvency. Last week, Tether
removed almost half the USDT in circulation and burned
them. But, rather than imploding, what if the company is
simply winding down?
Perhaps the most controversial crypto projects in
existence is Tether. The project continues to be
embroiled in numerous controversies, leading many within
the community not to trust it and the USDT tokens it
offers.
Tether’s claims that its virtual currency was fully
backed by U.S. dollars at all times and now it seems all
that is a lie.
Could Tether be making an exit? If you own Tether, you
better pay attention.
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