Just In: Suspicious Tether Wipe Off Activity Raises Eyebrows

After a steady drop in its price over the past few weeks, Tether continues to be at the center of the debate around stablecoins. Earlier this week, Tether market cap shrunk below the $70 billion level.

Timeline of Tether

The company behind Tether (USDT) is pushing back on rumors about the reserves composition of the largest stablecoin by market capitalization. In a new statement, Tether denies claims that 85% of its commercial paper holdings are backed by Chinese or Asian commercial papers and are being traded at 30% off. “These rumors are completely false The post Tether (USDT) Issuer Says Rumors About Its Reserves Composition Are ‘Completely False' appeared first on The Daily Hodl.

Investors recently sold over $1.6 billion of Tether (CRYPTO: USDT), dropping its market capitalization to $70 billion. What Happened: On the heels of a cryptocurrency crash, Tether saw an outflow of $1.6 billion of funds.

Cryptocurrency exchange AAX is kicking off “Crypto Summer” with fun-filled crypto trading events that aim to disperse the doom and gloom of the emerging “crypto winter” with the prospect of some tantalizing rewards.  The wider cryptocurrency market has been in a tailspin lately as the value of digital assets falls amid fears of rising inflation … Continued The post AAX to Share 1M USDT Rewards Through Fun “Crypto Summer” Events appeared first on BeInCrypto.

Following the cryptocurrency market turmoil, the total supply of stablecoins has fallen quite significantly. This reportedly marks Q2 of 2022 as the first time in crypto history where the overall supply of stablecoins has decreased.

Tether's day of reckoning could be approaching, and if the top stablecoin issuer cannot calm years-long doubts about the state of the cash reserves backing its dollar peg, an $80 billion run could be coming. With the cryptocurrency market already nearing panic, a run on Tether's USDT stablecoin would be catastrophic, with the potential to

Tether has released a statement to counter reports making rounds about its commercial paper portfolio. The post Tether claps back at rumors surrounding its commercial paper portfolio appeared first on CryptoSlate.

Tether has moved to counter “rumors” that 85% of its commercial paper is Chinese or  Asian and trading at a 30% discount thus calling into question its reserves. Tether or USDT is the number one dollar-based stablecoin and has endured a challenging market having largely.

Tether has categorically denied rumors about its commercial paper holdings, claiming they are being spread to induce panic and generate profits. The post Tether Refutes Rumors Surrounding Stablecoin Backing appeared first on BeInCrypto.

Tether, the company that issues the biggest USD-pegged stablecoin USDT, said that it condemns what it calls “false rumors” that its holdings include large amounts of Chinese commercial paper that supposedly trades at a discount. The company also distanced itself from Celsius (CEL) and Three Arrows Capital-related rumors. 

Tether, the operator of the USDT stablecoin, on Wednesday derided speculation that the token is backed by low-rated debt. The firm said in a press release that recent “rumors” that the portfolio used to back USDT consists of Chinese or Asian commercial papers are “completely false.