According to Omni Explorer, 18 may stablecoin Tether generated new tokens USDT in the amount of $250 million.
Recall that the Tether is a company that produces so-called “stable currency” USDT, which, according to the Issuer, maintained in US dollars at a ratio of 1:1. Tether has been criticized for lack of transparency after the termination of cooperation with audit firm Friedman LLP to conduct an official audit.
Tether one of the few companies that has been producing stablecoin, the total amount of supply tokens Tether increased to 2.5 billion, and some critics doubt that all these coins is provided in US dollars.
One of these critics is an anonymous blogger Bitfinex’ED, for pointing out the correlation of the token generation Tether with the growth of prices for major cryptocurrencies such as bitcoin and ether. According to price indexes BTC and ETH for one hour after the release of the new Tether tokens worth $250 million, the bitcoin price increased by about $120, and broadcast on the $10.
Bitfinex, one of the largest exchanges for cryptocurrencies, is a subsidiary of the Tether and threatens legal action against critics, such as Bitfinex’ED for questions about the ratio of 1:1 Tether with the U.S. dollar, which is still not proven due to the fact that the audit was never conducted.
It should be noted that the Tether is not alone in the market stablecoin, and in this area there are new players such as Circle. Recently we wrote about the startup announced the plans for a token USD-C, which will be created on the Ethereum blockchain.
Another example TrueUSD company TrustToken, released in March of this year, with the support of Goldman Sachs.