Controversial Tether Issues $300 Mln In New Tokens, Critics React

Tether, the altcoin backed by fiat currencies USD and EUR, has issued another 300 mln USDT tokens priced at $1 per token on Tuesday March 20, according to data from Omni Explorer.

In mid-February, Tether had released 86 mln in euro-backed EURT and 61.1 mln in US dollar-based USDT on the Ethereum (ETH) Blockchain.

Bitfinex’ed, an anonymous blogger and avid Tether critic, posted on Twitter today that the release of such a large amount of Tether at once caused BTC’s price to rise in proportion:

“$300,000,000 NEW TETHERS IN ONE DAY.

The largest grant of fraudulent and unaudited Tether tokens in history. Oh look, Bitcoin jumped up big time today.

What a f****** surprise. First new Tethers since they fired their auditor.”

The 300 mln Tether was released Tuesday at 6:51 PM UTC, and BTC did see a price rise around the same time, albeit not a drastic one. As of press time, Bitcoin is trading for around $9,070, up about 6 percent over a 24 hour period…

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