According to Omni Explorer, Tether (USDT), a cryptocurrency that is said to be backed by the US dollar, issued another 250 million tokens on June 25.
At the end of March this year, Tether issued 300 million tokens, which led to a slight increase in the price of Bitcoin. The move was heavily criticized due to the lack of a public audit of the company that could confirm the fiat backing of the tokens.
Recently, researchers at the University of Texas published a paper suggesting that the token was behind the 2017 Bitcoin price manipulation. Tether CEO denied this information.
Tether's public termination of cooperation with its auditor in January of this year - before the publication of official audit data - added fuel to the fire, however, according to an unofficial statement from the law firm, as of June 1, Tether had enough dollar assets to support tokens.
Charlie Lee, the founder of Litecoin, tweeted today that 250 million USDT can be compared to $250 million in crypto exchange accounts - this means that an immediate jump in the price of cryptocurrencies cannot be ruled out, since these funds are used to buy digital currencies.
At the time of writing, the increase in the price of Bitcoin was almost 6% over the last 24 hours.
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