Tether statement on USDT price instability fails to calm chatter over its future

[sell100]

Tether statement on USDT price instability fails to calm chatter over its future

Troubled stablecoin speaks for first time after value plummeted yesterday, but critics are far from convinced.  The team behind Tether (USDT) has released a statement regarding its recent problems...

Read more: https://www.trackcoinmarket.com/en/crypto-news/33758/tether-statement-usdt-price-instability-fails-calm-chatter-future

[Awesomus Maximus]

Troubled stablecoin speaks for first time after value plummeted yesterday, but critics are far from convinced.  

The Tether team could easily silence all critics if they wanted. They should just enable independent auditors to examine their finances. But we all know they won't do that any time soon. That is the last thing they need. And, to a certain extent, the whole crypto ecosystem is trapped by their shitcoin and by their behind-the-screen operations.

[alex-nn]

We don't know do they have billions of money backed by Tether so I think USDT price instability will increase until they do an independent audit and publish us the results. There is no trust because we don't see billions of money in their in bank accounts.

[adekogbe]

We don't know do they have billions of money backed by Tether so I think USDT price instability will increase until they do an independent audit and publish us the results. There is no trust because we don't see billions of money in their in bank accounts.

Aside from allowing audits of their financial records, the next problem that USDT faces at the moment is the entry of new stablecoins into the market. Most of which are a lot more transparent and also some exchanges are beginning to introduce fist deposit and some trading pairs.

This means tether gradually is loosing its grip of the major stable coin.