Hindenburg Research announces a reward highlighting the values that secure the price of the cryptocurrency Tether. – A pathetic desire for attention, answers the Tether.
Tether is the fifth largest cryptocurrency with a total value in circulation close to $70 billion, or 581 billion kronor, according to Queen Market Cap.
Cryptocurrency is the largest of its kind stablecoinThat is, the price is stable and tied to a fixed value, in this case one dollar. The value is backed by traditional foreign exchange reserves, securities, and digital currencies.
We really believe that Tether should come with a complete and comprehensive release of the reserves to the public. If not, we’re offering a $1,000,000 prize to anyone who can provide us with exclusive details about Tether’s estimated reserves, says Hindenburg Research founder Nathan Anderson. In a press release.
That’s why they launched the Hindenburg Tether Bounty this week. Reported by the Financial Times.
Lack of transparency about giant values
Stablecoins have been given a central role as a link between the traditional and digital market, and are also widely used to buy and sell other cryptocurrencies.
But as the currency grows, Hindenburg wants clarification of value reserves, which should be huge at the current level.
Hindenburg is not the only one calling for more transparency on this topic.
The reward announcement comes less than a week after US authorities fined the company behind Tether 342 million kronor over false claims that the coin was fully backed by dollar reserves. Reuters writes.
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“This ploy from Hindenburg Research is a pathetic cry for attention”, He answers to the company behind Tether, He adds that this is not the first time that Hindenburg has invented things in pursuit of profit.
Hindenburg itself asserts that it does not hold crypto-related values.
The investment firm is perhaps best known to Norwegian readers after allegations of fraud related to Neil’s partner Nikola, which led to Nikola’s founder Trevor Melton having to resign as chairman.
“They are trying to discredit not just Tether, but the entire movement. Fortunately, everyone is looking for their opportunism, as Bitcoin is close to setting a new record,” writes Tether.
The price of the largest cryptocurrency Bitcoin rose this week to an all-time high of $66,930.
The company continues, “Tether is a pioneer, a special breed in business, and we have great visions for the future.”
They assure that they, like those before them, are more scrutinized than others, but understand their responsibility, and will continue to focus on customer requirements and defend the cryptocurrency markets.
Hindenburg Research announces $1,000,000 bounty for details on Tether supportTether responds to a satirical bounty from Hindenburg research | RopeReuters case found that you haveThe Financial Times issue can be found here
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