Published On: Wed, Feb 7th, 2018

Warning Signs? A Timeline of Tether and Bitfinex Events

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Concerns are growing as to whether tether (USDT), the stable token pegged to the dollar, is backed by actual U.S. dollars. And recent scrutiny by U.S. regulators is doing nothing to allay those fears. As of this writing, the number of USDT in circulation is 2.2 billion. That means Tether should have a matching number of dollars in one or several bank accounts. But, so far, no external audit has been conducted to show the money actually exists.  Tether is owned and operated by the same individuals who run the largest Bitcoin and cryptocurrency exchange in the world. …

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