Tether (USDT), the largest US dollar-indexed stablecoin of the crypto money industry, continues to work on the industry. Faced with huge FUD operations for years, USDT is still successfully serving. Recently, it has been seen that trust in stablecoins, as well as crypto exchanges, has decreased. Some rumors on Tether cause investors to be skeptical of USDT.
Recently, Tether co-founder Paolo Ardoino published an article on the subject on his official Twitter account:
“For years, Tether truthers and MSM have been painting Tether as the black sheep. While they were creating, feeding and caressing their industry gods, they were in fact using Tether as a distraction from their own failures.
They first said that Tether did not have any reserves. And Tether proved them wrong. They then said that Tether had 70% reserves invested in Evergrande. Tether proved them wrong again.
Next, they said Tether had worthless garbage commercial papers and that Tether would never be able to sell them. Yet again Tether proved them wrong. Tether promised in 2021 that it would reduce CP to 0 and sure enough, CP were reduced to 0, without a single loss, just profits!
They went on to say Tether could not sign a big accounting firm to work on its attestations. And Tether proved them wrong, signing BDO, a top 5 ranked accounting firm. Now truthers and MSM are desperately raising FUD about Tether’s secured loans.
They have tried to suggest that Tether is making the same gross risk management mistakes that truthers and MSM had failed to see in their gods. In fact, Tether secured loans are covered by extremely liquid assets, not pinky swear collateral.
Tether will once again demonstrate the deep care that it has and always will have for the community and for the bitcoin industry. As we did with CP, Tether will progressively reduce its secured loans program to 0, starting from now, throughout 2023.
So let’s see what FUD they throw at us next. Just don’t ask Tether to be the socket puppet of Wall Street. That’s covered extremely well by our competitors. We’ll keep focusing on emerging markets and all those communities in developing countries that banks gave up on.”
Stating that Tether has emerged well from all FUD operations created to date, Ardoino emphasizes that they cannot harm USDT with false statements.