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Ethereum World News 2022-06-27 16:34:02

Tether CTO Highlights a Coordinated Attack by Hedge Funds to Short USDT, Reiterates the Stablecoin is 100% Backed

Summary: Tether’s CTO, Paolo Ardoino, has identified a coordinated attack on USDT by traditional hedge funds shorting the stablecoin. According to Mr. Ardoino, the attack involves a new wave of FUD, trolling, clowns, and more. Mr. Ardoino has reiterated that Tether is 100% backed by reserves. He also added that Tether is phasing out its reserve exposure of commercial paper in preference to US treasuries. Tether’s and Bitfinex’s CTO, Paolo Ardoino, has identified a coordinated attack on USDT by traditional […]

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