The Wall Street Journal has brought charges against Tether. The team of the famous stablecoin USDT was not asked to react and contradict the newspaper.
Tether denies Wall Street Journal accusations
Recently, the Wall Street Journal violently attacked Tether by accusing it in a report. The newspaper claimed that the asset does not have sufficient reserves. The newspaper had said that crypto market analysts are wondering if Tether’s reserves are sufficient. They would like to get verified information from the company. The newspaper added: “ Instead of a full audit, Tether, like other leading stablecoins, publishes a certificate showing an overview of its reserves and liabilities, signed by its accounting firm. ».
For Tether, this is a “ series of unfounded conclusions ”and the USDT is part of the US Treasury bills (T-Bills). Because of this, it is a “ top-notch safe asset in the world ». Tether claims that it has not stopped being honest and transparent in its publications, although it has not carried out an audit. « Tether’s earnings presentations have been the most honest and transparent on the market. Everyone knows we haven’t had an audit and they know we’re working on it ”, he said.
Moreover, some analysts of the cryptosphere have given their opinion on the subject. And some wonder if the Wall Street Journal was not paid by crypto competitors to discredit it.
Recently, the Wall Street Journal published an article that caused a lot of talk about him. This is a publication entitled: “Tether says that the audit is still months away while the cryptocurrency market is weakening”. Tether indicated that the false accusations found in the Wall Street Journal article are aimed at damaging its reputation.
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Far from having cooled my ardor, an unsuccessful investment in 2017 on a cryptocurrency only increased my enthusiasm. I therefore resolved to study and understand the blockchain and its many uses and to relay information related to this ecosystem with my pen.
