Tether has caused a lot of confusion in the cryptocurrency market. After the November cyberattack where hackers stole $30 million, many people question the sense of this token. Yesterday, the company behind the project announced that it would gradually restore its wallet access and services. However, US citizens will not be able to exchange Tethers for US dollars.
The original idea behind Tether was both ambitious and useful. These tokens, in theory, reflect fiduciary money on the cryptocurrency market. Their price reflected actual prices of fiat currencies. In theory, everything looked fine, but Tether doesn’t guarantee that users can redeem tokens or carry out transactions. It is precisely the lack of a guarantee and possible liability that makes more and more people wake up and realize it’s a fraudulent venture.
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https://dowbit.com/beginning-end-tether/
