Tether Requests Court to Remove Roche Freedman From Class Action

Tether has asked the judge presiding over a class action suit against it to remove legal firm Roche Freedman from the case, which, if granted, could weaken the litigation against the stablecoin giant.

Timeline of Tether

Tether [USDT], one of the largest stablecoins by market cap, has been dominating the stablecoin space for quite some time. Even though Tether is crowned king of the stablecoin space, it has seen a lot of turbulence over the last few years.

Tether issued a statement informing its community of false material that had been spread to cast doubt on the organization's integrity. The misinformation cited above pertains to a Wall Street Journal (WSJ) story that attacked Tether.

The crypto market is flashing green with the world's first cryptocurrency, Bitcoin and Ethereum regaining $20,000 and $1,600 levels respectfully. However, the global crypto market is still positioned below $1 trillion. At the time of writing, Bitcoin is trading at $20,395 after a slight drop of 0.37% over the 24hrs.

Is this attack on Tether part of The Wall Street Journal's general campaign against bitcoin and crypto? Or did the newspaper feel the impulse to get in on the Tether FUD action a few months too late?

Tether alleges that the Wall Street Journal has spread false information about its reserve composition and business profitability. The post Tether Hits out at WSJ, Accuses Publication of Having an Agenda Regarding Company Reserves appeared first on BeInCrypto.

Responding to claims that the stablecoin is not adequately backed by reserves, Tether described the allegations as ‘unsubstantiated conclusions'. After a Wall Street Journal article said there were doubts about the company's reserves, Tether reacted with a clarification.

Tether has responded to concerns raised by a recent article by The Wall Street Journal claiming that the USDT issuer has inadequate reserves. The post Tether responds to WSJ's insolvency claim, says its US Treasury assets are safe appeared first on CryptoSlate.

Two weeks ago, Tether made headlines about the improvement in its market capitalization and the fact that it managed to reverse a three-month downtrend. However, Wall Street Journal's (WSJ) recent article has claimed that Tether's balance sheet is in such a meek position that even a 0.

Tether's balance sheet is in bad shape and a small drop could cause insolvency, according to a Wall Street Journal (WSJ) story, even a 0.3% loss in the value of its reserve assets might “make Tether technically insolvent.

Wall Street Journal's Jean Eaglesham and Vicky Ge Huang suggested that such a “thin cushion of equity” could cause mayhem in the market if Tether's liabilities were to outweigh its assets.