Tether Ltd. recently released the next batch of its stablecoin. After issuing $300 million in USDT in March, Tether issued another $50 million in new tokens.
Despite the recent release, the market capitalization of Tether has fallen by $300 million and now stands at $2,443,776,947. USDT is currently the ninth largest cryptocurrency. Additionally, Tether has a daily trading volume of nearly $5,000,000,000. This is one of the highest indicators, second only to Bitcoin.
After a series of independent studies, investors and regulators began to doubt whether UDST is truly supported 1:1 to the US dollar.
Despite the fact that in July Tether published a report in which detailing third-party audits of their assets, and despite the appointment of Leonardo Real, a former Quality Assurance Manager at the Bank of Montreal, lack of trust in the company's operations weakens its position. Researchers from the Department of Finance at the University of Texas concluded that the token issuer manipulated the Bitcoin market in 2017. Data analysis showed that purchases of the Tether token followed a decline in the market and led to a significant increase in the price of Bitcoin. A number of competing stablecoins, including TrueUSD (TUSD) and STASIS EURS (EURS), are quickly taking root on crypto exchanges.
At this time, no official statements have been issued from Tether regarding the release of new tokens.
According to https://sludgefeed.com
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