Controversies
TETHER is known as one of the most mysterious players in the digital currency industry. It has been repeatedly claimed in articles that the organization could manipulate supply to influence the price of bitcoin and the direction of the digital currency market. One of these articles claims that Tether was involved in the sharp rise in the price of Bitcoin to $ 20,000 in late 2017. According to this claim, IFINX has created unsupported USDT units, bought bitcoins with them and caused an artificial increase in the price of bitcoins.
In April 2019, the New York Attorney General's Office accused Tether of withdrawing $ 850 million in compensation from the Tethers; A claim denied by Bitfinx. Shortly afterwards, an IFINX lawyer formally admitted that only 74% of USDT units supported the real dollar. When the allegations were made public, users of the exchange withdrew assets worth at least $ 90 million from Bitfinx wallets. At the time of writing, Tether is still embroiled in minor and major allegations.
?On the other hand, despite the isolation and lack of transparency of the company's activities, Tether has a high level of trust among large exchange offices. Tether traders are not too worried about their capital, given the tough US and Hong Kong laws that Iphinx is required to follow. The USDT, which was initially at the very bottom of the digital currency market, has been one of the top four digital currencies in terms of market value, with stable activity over the past few years.
