Join the larget crypto conference of 2022 in Bitcoin
Bitcoin
$ 39,046

Majority of the crypto companies trying to short their stablecoin holdings: Tether CTO

5
(1)
Bitcoin is a commodity, says SEC Chairman 4

The technical officer of the USDT stablecoin issuer company claimed that the majority of the crypto companies are trying to short their stablecoins holdings and they are creating more fear and panic among the crypto investors. 

Tether is the biggest Stablecoin issuer company. This company operates its USDT coin as a leading stable coin project and also this company is enjoying as first mover advantage in the category of stable coin. Due to some questions regarding the backend collateral of Tether, the company faced huge backslash and its rival companies are competing more dominantly. 

On 27 June, Paolo Ardoino, CTO of Tether, took to Twitter and claimed that the majority of the companies are trying to take advantage of the Terra ecosystem collapse and they are further creating more panic in the crypto industry. 

According to Tether’s CTO, hedge fund managers ccompanies are using “short the trade”  strategy to make huge profits, that means  selling at high and further buying at low. 

Paolo said: 

“(Companies trying) Create enough pressure, in the billions, causing tons of outflows to harm Tether liquidity and eventually buy back tokens at a much lower price.”

Paolo also claimed that such things as ruining the reputation of such stablecoins, which are already facing panic & Fud pressure, and in this situation Tether’ USDT also faced outflow of funds in billions. 

Tether CTO tried to explain that people should not take tension under this situation because USDT is fully backed by the collateral assets and there is no sell pressure.

Further through the same tweet thread, Tether CTO tried to explain that USDT Stabelcoin is now that asset, which proved itself the best stable coin under these extreme market situations. No matter what the Fuds claim against Tether as a bad guy but what is the reality? Everything is in front of this industry.

Read also: Solana’ Saga Smartphone launch still fails to help Sol token

Majority of the crypto companies trying to short their stablecoin holdings: Tether CTO

 

https://bitcoinik.com/majority-of-the-crypto-companies-trying-to-short-their-stablecoin-holdings-tether-cto/feed/

https://bitcoinik.com/majority-of-the-crypto-companies-trying-to-short-their-stablecoin-holdings-tether-cto/feed/

 

 

 

 

 

Ads by Cryptonews24

 

Buy bitcoin and other cryptocurrencies on crypto exchanges:    Binance    Coinbase      Kraken      Bitfinex

EXPLOSIVE LTD is an investment company specializing in financial market trading. Our preferred market is commodities: EXPLOSIVE LTD have developed accurate expertise in trading gold, silver, crude oil, natural gas.

🔥 Explosive-X
Signup link: https://explosive-x.io/?ref=devplus
Started: 01/06/2022

💰 Investment Plans: 4% daily for 25 days (principal return end of the cycle)

Cancel Deposit after 24 hours with a 15% fee

Withdrawal: Manual (Max 12 hours)

📥 Minimal deposit: $10 – Maximum deposit: $50.000

📥 Minimal withdraw: PM $1 , BTC $10 ,LTC $5 ,ETH $20
XRP $5 ,DOGE $5 ,USDT ERC20 $20 ,TRX $5 ,XLM $5
USDT (TRC20 BEP20) $5 , USDT TRC20 5$ , BNB $5 ,BCH $5

🤝 Referral program: 6% – 2%

Career Bonus:
$1000 Direct active referrals: $40 Bonus
$2500 Direct active referrals: $100 Bonus
$5000 Direct active referrals: $250 Bonus
$15,000 Direct active referrals: $600 Bonus
$50000 Direct active referrals: $2500 Bonus

Sign Up : https://explosive-x.io/?ref=devplus

—————————————————————————————————————-

ANNOUNCEMENT EVENT
🔥🔥How hard will you work for an extra reward?
Event: “Share Your Link!” ❗️❗️❗️❗️
✅Share your invitation link and your wallet screenshot of the TRX withdrawal on the Telegram group and Facebook
Group/channel requirements: ❗️❗️
✅Telegram: 500 or more group members
✅Facebook: 100,000 or more group members
✅Screenshot to confirm whether you shared it with the group/channel with Gem-TRX💵 website link.
✅reward: 100TRX 💵💵💯💯
Requirements 💸💸❗️❗️
Those who have deposited 100TRX in their basic account will be eligible to participate.
Event Terms & Conditions: ❗️❗️
✅One account per group/channel
✅Minimum 5 groups /channels to participate per entry
✅Posting must be at least 24hours to the group/channel
✅Photographic evidence of the event requirement
❌⚠️Cheating is not permitted and will result in immediate disqualification.⚠️❌
Did you log in every day to receive the Trading Revenue⁉️
Your gathering efforts, Cloud Mining-Received or Expired⁉️
We will award you with 100TRX if you finish the mission in 30 days
The reward will be credited into the promotion account and can be withdrawn immediately. 💯💯💯
✅ VIP 1 – 100TRX 💸
✅ VIP 2 – 200TRX 💸
✅ VIP 3 – 1000TRX 💸
✅ VIP 4 – 5000TRX 💸
✅ SVIP – 10000TRX 💸
✅Register yourself by providing an Email and Referral Code to https://t.me/gemtrxofficial ✅
✅https://gem-trx.com/share?code=1590607✅

❌Warning:❌
Investing in cryptocurrency carries a high level of risk.

Ads by Cryptonews24

 

 

 

Risk Reminder:
Trading foreign exchange and/or contracts for differences on margin carries a high level of risk and may not be suitable for all investors.
The possibility exists that you could sustain a loss in excess of your deposited funds.
Before deciding to trade the products reviewed by Cryptonews24.eu, you should carefully consider your objectives, financial situation, needs and level of experience.
You should be aware of all the risks associated with trading on margin.
Cryptonews24.eu provides general news and advice that does not consider your objectives, financial situation or needs.
The content of this website must not be construed as personal advice.
Cryptonews24.eu recommends you seek advice from a separate financial advisor.
Nothing on this website should be considered financial advice.
This website is for informational purposes only and you should not rely on anything that is printed or said on this website to make any financial decisions.

 

How useful was this post?

Click on a star to rate it!

Average rating 5 / 5. Vote count: 1

No votes so far! Be the first to rate this post.

TELEGRAM
Cryptonews24 Channel Chat