{"id":7220,"date":"2018-05-19T02:46:25","date_gmt":"2018-05-19T02:46:25","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=7220"},"modified":"2018-05-24T11:46:58","modified_gmt":"2018-05-24T11:46:58","slug":"tether-prints-250-million-worth-usdt-will-market-see-another-rally","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/tether-prints-250-million-worth-usdt-will-market-see-another-rally\/","title":{"rendered":"Tether Prints $250 million Worth USDT. Will Market See Another Rally?"},"content":{"rendered":"

\"\"Tether, the cryptocurrency pegged to the US dollar on a 1:1 ratio, has printed another $250 million worth USDT, according to the data available on Omniexplorer. In the past, whenever Tether printed USDT tokens, the Bitcoin price has increased, although there is no evidence to prove Tether\u2019s involvement in Bitcoin\u2019s rally. Tether\u2019s association with Bitfinex cryptocurrency exchange has also led to several controversies in the past. The previous time Tether resorted<\/a> to printing USDT was on March 21.<\/p>\n

Tether claims to receive deposits in US dollars from investors, create an equivalent number of tethers, and then give those tethers to the depositor. Tether\u2019s web page claims that it has $2.538 billion<\/a> as deposits in its bank accounts. Furthermore, the company had said that it will be able to back every existing tether token on a 1:1 basis. However, without an external audit it would be hard to believe those claims. It can be remembered Tether relieved auditor Friedman LLP of their responsibilities<\/a> in January.<\/p>\n

Tether is a token issued on the Omni Layer, a platform that enables the creation of new assets on the Bitcoin blockchain. Every Omni transaction (and thus Tether transaction) is recorded in a Bitcoin transaction sharing the same transaction hash.<\/p>\n

\"Tether:
Tether: Grant Property Tokens<\/figcaption><\/figure>\n

In February, Weiss Ratings has issued a warning report<\/a> on Tether, while directing to the twitter handle of Bitfinex\u2019ed, a critic of Tether and Bitfinex exchange.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tether, the cryptocurrency pegged to the US dollar on a 1:1 ratio, has printed another $250 million worth USDT, according to the data available on Omniexplorer. In the past, whenever Tether printed USDT tokens, the Bitcoin price has increased, although there is no evidence to prove Tether\u2019s involvement in Bitcoin\u2019s rally. Tether\u2019s association with Bitfinex […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[68,1],"tags":[],"class_list":["post-7220","post","type-post","status-publish","format-standard","hentry","category-cryptocurrency","category-usa"],"yoast_head":"\nTether Prints $250 million Worth USDT. 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