Tether (USDT) Responds to a Research Paper Accusing Them of 2017 Crypto Market Manipulation


Tether has responded to a research paper done by two U.S citizens in which the conclusions accuse the firm and Bitfinex of market manipulation. This research done by Amin Shams and John Griffin both of whom work in academia highlights that the 2017 crypto market bull run may have been caused by the only player.

The USDT parent firm has since posted on its website refuting the paper and was seconded by its affiliate, Bitfinex, which also shared similar sentiments. According to the research paper, Bitfinex was majorly involved in the $20,000 BTC all-time high mark as they influenced the market’s decisions. Alternatively, another entity doing business with the firm may have caused the abnormal price surge.

Tether, however, claims that the findings are way below the standards of the initial research paper on the bull-run. This is because the academics admitted that the dataset used was not adequate enough hence assumptions may have dominated a big part of the conclusion. In addition, the firm assured its clients and stakeholders that they have been compliant and never indulged in market manipulation using Tether tokens. The ecosystem in which USDT operates follows the law of demand and supply and the coins are backed with the U.S dollar.

The response concluded by noting that USDT does not owe its popularity to market manipulation but the growth of Tether;

“It is a result of Tether’s efficiency, acceptance and WIDE SCALE utility within the cryptocurrency ecosystem.”

Here is the entire response from Tether team about its alleged market manipulation:

tetherresponsetomarketmanipulation

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide