Tether (USDT) should create “transparency” about its operations, crypto investor Michael Novogratg claimed.
The concept of stablecoins makes sense,” Novogratg nonetheless countered, singling out the Winklevos twins’ Gemini Dollar, which launched in September.
Tether has found at the source of controversy this week after volatility caused it to lose its long-time USD peg. At press time, USDT traded around $0.975, at one point dropping as low as USD 0.91.
The issue came whil cryptocurrency exchange Bitfinex, the CEO of which is also CEO of Tether, faced insolvency rumors.
In the intervening period, large amounts of Bitfinex’s USDT holdings have been transferred to Tether’s Treasury, leading to fresh suspicions over the exchange’s buoyancy.
According to the data, Binance is now the number two largest USDT holder, Poloniex and Huobi also owning more than Bitfinex.
Recently there was a FUD about USDT delisting in binance , its give a super increment in Bitcoin price..
let me know about the tether future in coming days
see you soon in another news..
let me know you opinion in comments bellow....