Stablecoin Tether Slams Rumors of Holding Asian Commercial Paper, Questions on Reserves

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.

Timeline of Tether

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.

Victoria, Seychelles, 15th June, 2022, Chainwire AAX, the institutional-grade cryptocurrency exchange, 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 and a worsening economy.

Tezos reached four-week high after USDT launch and the price of XTZ increased by 9% in the day so let's read more today in our latest TEzos news. XTZ as the native cryptocurrency of the Tezos blockchain is outperforming the rest of the market as it soared to $2.23.

Tether launches USDT on Tezos in order to unlock new DEFI services and products so now the stablecoin can be found on the PoS Tezos blockchain and we are reading more about it in our latest Tether news. Stablecoin operator Tether launches USDT on Tezos and announced it will be expanding the list of blockchain

Tether has deployed the USDT stablecoin on Tezos, becoming the 12th blockchain on which the popular stablecoin is available. The post Tether Deploys USDT Stablecoin on Tezos Blockchain appeared first on BeInCrypto.

Tether (USDT), the platform on which the world's most popular stablecoin, USDT is built, has announced the introduction of USDT on the Tezos blockchain network in an effort to broaden its scope. Tether's market cap has risen as a result of the move, and it is now estimated to be worth $80 million. Tezos, unlike …

Tether Operations Limited, the company behind Tether (USDT), the world's largest stablecoin by market capitalization, has announced its plans to launch USDT on the Tezos (XTZ) blockchain. The post Tether has announced that it will launch USDT on the Tezos network appeared first on CryptoSlate.

Secondary stablecoins were able to capitalize on Tether slipping from its peg, following the collapse of TerraUSD last month. The post Secondary Stablecoins Capitalized on Lapse of Tether (USDT) Peg appeared first on BeInCrypto.