We witness last days the cryptoniens claim about tether huge circulation and suspicious about respecting the 1:1 ratio. To explain the situation, every tether dollar supposes to have a one dollar equal in the company bank account, a company owned by the same bittfinex people. the volume had reached 2 billion USDT and it brings an important question: are the company have 2 billion dollars in the bank account as 1:1 ratio? another problem pops up, why there's just one-way direction: buying usd to tether and not claiming or cash out your tether to usd? we smell something fishy, aren't we?
The only solution for this problem is creating a reliable fiat-crypto bridge for deposit, cash out or trading your dollar to cryptocurrency without any intermediary. Bittrex assumes to take advantage of the situation and lunch a fiat system deposit following the Korean exchange steps where they are already enabling the bank deposit and cash out. Bittrex CEO has declair that the exchange would accept USD deposits and stop the dealing with tether.
AS the CEO indicated that USD deposits will be set up soon on the exchange saying:
Currently, Bitcoin and Tether are the only main pairing for the list cryptocurrencies
As I explained before, the suspicions about Tether inflation is the real reason for this change in order to avoid USDT height risk.