The Wall Street Journal has brought charges against Tether. The team of the famous stablecoin USDT was quick to react and contradict the newspaper.
Tether denies Wall Street Journal accusations
Lately, the Wall Street Journal viciously attacked Tether, accusing it in a report. The newspaper claimed that the asset does not have sufficient reserves. The newspaper had said that crypto market analysts are questioning whether Tether’s reserves are sufficient. They would like to get verified information from the company. The newspaper added:Instead of a full audit, Tether, like other leading stablecoins, publishes an attestation showing an overview of its reserves and liabilities, signed by its accounting firm.“.
For Tether, this is a “series of unsubstantiated conclusionsand USDT is part of US Treasury Bills (T-Bills). Therefore, it is a “top-notch safe asset in the world“. Tether claims that it has not stopped being honest and transparent in its publications, although it has not carried out an audit. “Tether’s earnings presentations have been the most honest and transparent on the market. Everyone knows we haven’t had an audit and they know we’re working on it“, did he declare.
In addition, some cryptosphere analysts have expressed their opinion on the subject. And some wonder if the Wall Street Journal was paid by crypto competitors to discredit it..
Recently, the Wall Street Journal published an article that caused quite a stir. This is a post titled: “Tether Says Audit Still Months Away as Cryptocurrency Market Weakens”. Tether said the false accusations in the Wall Street Journal article are aimed at damaging his reputation.
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