Tether, one of the most controversial yet successful cryptocurrencies in the entire space. Some live by it and put their hard earned money into it while some despise it blaming it not only for bitcoin manipulation, but also for lying to investors about its backing. Who should you trust?
In this video I talk about: The creation of Tether and its origins, Tethers connection to Bitfinex (Paradise Papers) (Jean Louis van der Velde), Tether manipulation and the 2017 pump ( Justice Department ) ( CFTC ), Tether banking issues ( Crypto Capital Corp ) ( 850 Million dollar cover-up )
There has been an immense amount of pressure from the cryptocurrency community and external entities on Bitfinex and Tether that has allowed us to learn the truth, however I would suspect that similar things happen throughout the cryptocurrency industry every day to many of the largest exchanges and corporations. Cryptocurrencies are still in the period of mass adoption and regulation, and as we start to transition more and more into this phase, the real use of cryptocurrency will start to be put to work. The industry is clouded by profits, so much so that most cryptocurrency traders don’t even hold their own funds, and trust an entity that is likely even worse than their very own bank.