Tether commented on the publication of “flawed work” by American researchers
Tether has posted an official response on analytical work that was updated and re-published by two American researchers at this week. They are claim that climb course bitcoin in 2017 year caused one single “whale” that operated on the Bitfinex exchange.
“The stated conclusions of the authors are based on a shaky foundation, the problem whom consists of absence complete dataset. Here example of one of shortcomings: the authors openly declare that they do not have accurate data regarding the critical time implementation transactions or the movement of capital through various exchanges“, – writes Tether, adding, that the lack of a complete picture of what was happening does not allow analysts to accurately establish sequence events that led to the alleged manipulation.
Tether also declares, that neither the company itself nor those associated with it faces “Never used tokens Tether and never issued their for the purpose of manipulation the market cryptocurrencies or by token prices “. “Everything Tether tokens are fully backed by reserves and issued in accordance with market demand, not for the purpose of controlling crypto prices-assets“.
Finally company writes that growth negotiable volume USDT is an “Not a product of manipulation, but a result of efficiency, adoption and the large-scale practical significance of Tether in the cryptocurrency ecosystem “.