Bad rumors on Tether and Bitfinex lying about assets
Recently there has been many toxic rumors surrounding Tether. The main suspicious property of Tether, as observers note, is that this cryptocurrency project does not withdraw the information about funds it possesses, which leads some to believe that this project was a bubble. Among those not completely trusting Tether is Charlie Lee, creator of Litecoin:
There's a fear going on that the recent price rise was helped by printing of USDT (Tether) that is not backed by USD in a bank account.— Charlie Lee [LTC] (@SatoshiLite) November 30, 2017
I urge @bitfinex and @Tether_to to perform a 3rd party audit to prove their reserves. Please do the right thing. Thanks.
The rumors come amidst other messages about the dissolving relationship of Tether and Friedman LLC, an audit firm. Meanwhile, the report on Bloomberg initially suggested that the United States Commodity Futures Trading Commission has used its powers to subpoena Bitfinex and Tether, which in reality happened in the early December 2017. However, the journalists have already corrected the mistake, and from this one can conclude that even the most trustworthy media’s messages have to be checked.
The price of Tether, which, as claimed by the creators, is backed by the United States dollar, is now $0.99, but the market cap has visibly fallen in the last 24 hours.