Hindenburg Research announces award highlighting values ââthat secure the price of Tether cryptocurrency. – A pathetic desire for attention, answers the Tether.
Tether is the fifth largest cryptocurrency with a total value in circulation of nearly $ 70 billion, or Kronor 581 billion, according to Market capitalization queen.
Cryptocurrency is the largest of its kind stable currencyThat is, the price is stable and tied to a fixed value, in this case a dollar. The value is backed by traditional foreign exchange reserves, securities and digital currencies.
We really think Tether should come with full and complete disclosure of the caveats to the public. Otherwise, we’re offering a prize of $ 1,000,000 to anyone who can provide us with exclusive details on Tether’s estimated reserves, says Nathan Anderson, founder of Hindenburg Research. In a press release.
That’s why they launched the Hindenburg Tether Bounty this week. Reported by the Financial Times.
Lack of transparency on giant stocks
Stablecoins have been given a central role as the link between the traditional and digital market, and are also widely used to buy and sell other cryptocurrencies.
But as the currency rises, Hindenburg wants a clarification of the stores of value, which are expected to be huge at current levels.
Hindenburg is not the only one calling for more transparency on this subject.
The announcement of the award comes less than a week after US officials fined the company behind Tether Kroner 342 million for false claims that the coin was fully backed by dollar reserves. Reuters writes.
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“This Hindenburg Research ploy is a pathetic cry for attention”, He responds to the company behind Tether, He adds that this is not the first time that Hindenburg has invented things in search of profit.
Hindenburg himself claims that he does not hold any crypto related securities.
The investment firm is perhaps best known to Norwegian readers after fraud allegations linked to Neil’s partner Nikola which led Nikola founder Trevor Melton to step down as chairman.
âThey are trying to discredit not only Tether, but the whole movement. Fortunately, everyone is looking for their opportunism, as Bitcoin is on the verge of setting a new record, âwrites Tether.
The price of the largest cryptocurrency Bitcoin has risen this week to an all-time high of $ 66,930.
The company continues, âTether is a pioneer, a special breed in business, and we have big visions for the future. ”
They assure that, like those who came before them, they are more under scrutiny than others, but understand their responsibility and will continue to focus on client needs and defend the cryptocurrency markets.
Hindenburg Research Announces $ 1,000,000 Bounty for Details on Tether SupportTether Responds to Satirical Premium from Hindenburg Research | RopeThe Reuters case revealed that you haveThe Financial Times issue is available here