WSJ vs. Tether: Is the stablecoin falling now?

Tether (USDT), the third-largest cryptocurrency after Bitcoin and Ethereum in terms of market capitalization, and those behind it have once again had to put up with serious allegations. This time they come from the Wall Street Journal. Problems in 2018 are said to have led to recourse to dodgy middlemen, letterbox companies and forged documents to maintain access to the banking system. The magazine relies on emails from Stephen Moore, one of the owners of Tether Holdings Ltd. Tether itself rejects these allegations as “completely inaccurate and misleading”.

If it were the first time Tether has come under criticism, the matter could arguably be given less attention. However, the list of allegations against the stablecoin publisher is long and extensive. It ranges from a lack of coverage of USDT reserves to connections to terrorist organizations. Is the measure full now and does this drop make the camel overflow? We wanted to know your assessment and asked you on social media: “New allegations – is Tether now dead?”

The possible answers were as follows:

• Yes, that’s enough!
• No, they keep cheating.
• I don’t care.

Is Tether dead now? The poll result

A total of 773 votes were cast on BTC-ECHO’s social media channels (Instagram, Twitter, LinkedIn and YouTube). And your opinion is quite ambivalent: 40.66 percent believe that the Wall Street Journal’s allegations are only FUD (Fear, Uncertainty and Doubt). However, almost as many of you, 39.4 percent, are skeptical about Tether and believe that enough is enough (15.76 percent) or that this matter will not bring Tether down but at least keep cheating ( 23.64 percent). Almost 20 percent of you don’t care what happens to Tether (USDT).

In any case, the Causa Tether remains exciting and we will keep you up to date with all the news about the latest and possibly upcoming allegations.