Who is really in charge of issuing Tether?

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The amount of 30 million, compared to the total cryptocurrency capitalization of 282 billion US dollars, seems insignificant. But with a deeper analysis, ideas emerge that make us doubt whether cryptocurrencies are so safe and investors will not be disappointed soon. Will Bitfinex be the next Mt Gox? The Tether cryptocurrency appeared in 2015. The project suggested a currency based on a bitcoin blockchain, which could replace the US dollar in exchange transactions. The cryptocurrency rate would have to be pegged to the dollar, at a 1:1 ratio, and backed by a trusted bank in Taiwan. In the spring of 2017, American Bank Wells Fargo limited bank transfers, because Bitfinex (where there was the largest turnover of Tether) had problems, the cryptocurrency depreciated by 10% to 0.9 US dollars.

LiteFinance: Who is behind the pirate attacks on cryptocurrencies and how it will be reflected in the market |  Litefinance Several questions arise from the cryptocurrency chart: How do cryptocurrency developers manage to keep the Peru Mobile Number List  price of Tether at the same level? The price reflects the relationship between supply and demand in the asset. If investors are not interested in a cryptocurrency, its price drops. In this case, the price of Tether relative to the dollar does not fall. But its rate is low in relation to BTC (it is logical, since bitcoin is growing). Why has the capitalization of the cryptocurrency in US dollars increased almost tenfold over the past year, if its price has not changed? Capitalization is the total cost of all tokens.



The growth of capitalization with a stable price suggests the increase in the number of tokens.  The behavior of Tether quotes cannot be based economically, but it is very clear from the following facts: Tether's capitalization has increased from 70 million to 650 million US dollars in the year, thus entering the cryptocurrency into the TOP-25. During November 2017 alone, about 20% of the tokens were issued. On November 8, tokens worth 20 million USDT were issued, on November 9 another 20 million, on November 10 30 million. On November 8, on Bitfinex, there was an order to buy bitcoins worth 13.5 million US dollars, which caused its increase from 7075 to 70350 US dollars. Phil Potter holds leadership positions at both Bitfinex and the Tether project.