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Tether recently hit the milestone of issuing its 3 billionth token, which many supporters are celebrating. Others feel it is a bit early to celebrate considering the recent controversy concerning the asset no longer being 100% fiat backed.
. @Tether_to is now Tether^3. Just passed 3 billions of issuance. Congrats!! https://t.co/G6SNaZupz6
— Paolo Ardoino (@paoloardoino) May 24, 2019
Stay tuned, big news ahead!
Users looking to verify this can see it on Tether's "transparency" page:
However, on twitter, not everyone felt this was such a joyous cause for celebration:
... therefore $USDT is now 75% backed by USD or equivalents (+1% vs when the NYAG news broke) 🤣
— Alistair Milne (@alistairmilne) May 24, 2019
(25% being backed by the $750mil loan to Bitfinex, who recently raised $1billion in 10 days) https://t.co/7g5eExXP9C
*cough* what hahaha ... No banking but $3 billion issuance. Nice story bro.
— Lisa Baade (@baade_lisa) May 24, 2019
In the wake of the recent revelation that Tether is not 100% backed by fiat, but rather by a combination of fiat and debt and other assets, some users don't seem to feel that the stablecoin is as trustworthy as it used to be.
Will more people warm back up to Tether, or is it irresponsible for the company to keep issuing tokens? Stick with Chepicap for all updates!