Hiptoro
  • Entertainment
    • Celebrities
  • Sports
    • NBA
    • WWE
    • NFL
  • Movies
  • TV Shows
  • Anime
  • Technology
  • Gaming
No Result
View All Result
  • Entertainment
    • Celebrities
  • Sports
    • NBA
    • WWE
    • NFL
  • Movies
  • TV Shows
  • Anime
  • Technology
  • Gaming
No Result
View All Result
Hiptoro
No Result
View All Result

Tether alleged for wrongdoings with partner Bitfinex against Bitcoins!

by Kishan Jhunjhunwala
7 years ago
in Business
Reading Time: 1 min read
0

“Each of our digital coins in backed by one U.S. Dollar,” says Tether. This article will cover up all the FAQs about the most hotly debated statement made by Tether.

1. What/Who is a Tether?

Unlike Bitcoin, Tether is such an issuer of cryptocurrency whose tokens are stable. Bitcoins value fluctuate wildly depending on the market conditions, while Tether currencies are always near $1. This is because Tether says that each of its coins is backed by $1 in its bank accounts.


Source- Bitcoinbro

2. Why are the Tether coins popular?

Since the value of their coins is close to $1, they are used by traders as a substitute for dollars. Being a cryptocurrency, Tether’s coins don’t have to go through the time taking banking system, making them easily transferable.

3. Why are these skeptics?

Tether is yet to provide any substantial evidence on its statement. Moreover, there have been allegations that trading in Tether’s coins on Bitfinex has popped up Bitcoin’s price. Tether and Bitfinex, one of the world’s largest cryptocurrency exchange, has the same CEO which is making these allegations stronger.

On these allegations, Bitfinex released a statement on Medium on Oct 8 saying that

“Complications continue to exist for us in the domain of fiat transactions, as they do for most cryptocurrency-related organizations. However, we continue to do our utmost to minimize any waiting times associated with fiat deposits and withdrawals.”

So, if any evidence of any wrongdoing comes up at Tether, USDT could lose its value quickly.

Source- Bloomberg

TRENDING NOW

Shubhanshu Shukla

Who is Shubhanshu Shukla? All About the Axiom Mission 4 Astronaut

June 27, 2025
Peggy Annette Whitson

Peggy Annette Whitson: Who Is The Only Female Astronaut In Axiom Mission 4?

June 27, 2025
Dierks Bentley

Dierks Bentley’s Bio: Age, Early Life, Career, Net Worth

June 21, 2025
Jordon Hudson

Who is Jordon Hudson? Meet Bill Belichick’s 24-Yr-Old Girlfriend

June 21, 2025
Greg Grunberg

Greg Grunberg’s Wiki: Age, Bio, Career, Net Worth

June 21, 2025
Layla Taylor

Who is Layla Taylor? All About ‘The Secret Lives of Mormon Wives’ Star

June 21, 2025
hiptoro logo
  • Contact Us
  • Disclaimer
  • Copyright
  • About Us
  • Write for Us
  • Ethics Policy
  • Fact Checking Policy
  • Terms and Conditions
  • Privacy Policy


© 2023 Hiptoro Private Limited.

No Result
View All Result
  • Entertainment
    • Celebrities
  • Sports
    • NBA
    • WWE
    • NFL
  • Movies
  • TV Shows
  • Anime
  • Technology
  • Gaming