The largest stablecoin Tether (USDT) is not getting out of trouble. The issue of guarantees behind the printed USDTs was on the agenda for a long time and he got rid of this roughness by paying a $ 41 million fine. But the company could be in bigger trouble. The last statement is aimed at Tether, and the informant is wanted.
The Informant Will Be Given $ 1 Million
Hindenburg Research he made an important announcement. Tetherthe company, obsessed with the reserves of , is looking for informants to defeat the giant stablecoin. New York-based investment company Hindenburg Research on October 19 USDTstablecoinhe announced that he would award up to $ 1,000,000 to anyone who provides private information because he has doubts about the legitimacy of his “incomprehensible” statements.
Hindenburg Research founder Nathan Anderson, the people’s Tether’he believes that everyone deserves to know about his assets:
“Tether he should clearly explain the assets he holds. The public needs to know that. We do not see clear explanations on this issue and are considering awarding up to $ 1 million to whistleblowers who can provide specific detailed information”.
It is known that the company does not make any crypto currency investments.
Description from Tether
The issuer of Stablecoin ridiculed this announcement made by the company and accused it of opportunism. Hindenburg Researchhe was told that he had made a clear plan in pursuit of profit, but he would not achieve his goal. Tether claims to be transparent in its reserve disclosures, but even so, a significant portion of all collateral does not consist of assets that can be directly cashed out.
Tether (USDT) latest reserve breakdown;
The Commodity Futures Trading Commission (CFTC) Tether‘e had been fined $41 million for lying about being supported one-on-one by the dollar. The company preferred to be away from transparency, especially in its early days, and by one-to-one dollars USDThe argued that the . But the recently announced data do not confirm them. It seems that the company supports stablecoins, which it prints with a wide range of investments. In other words, if all crypto currency investors want to disrupt their USDT, the company does not have enough cash to pay for it. This is just like the issue of cash reserves of banks. But there is a global economic system and state security there, and Tether pays the price every day for losing trust once.
Nowadays USDTthe market capitalization of has exceeded $ 70 billion.