Tether: Bitcoin inflation probe takes another twist; USDT can withstand the pressure

Rope [USDT] Looks like he’s back hitting the rocks. In a recent development, a court in New York Command Tether is providing its financial details to prove its innocence in a case that has cost cryptocurrency traders more than $1 trillion.

In 2019, several cryptocurrency traders banded together to sue Tether and its partner company Bitfinex, for market manipulation. processing. The company was accused of inflation Bitcoin [BTC] Price for your profit.

“Do not do it.” No, I’m coming

Previously, Tether had hoped to prevent the court from making such a ruling. In its defense, the company said that the court should reject the plaintiffs’ request because it “overstepped the bounds” and was unrelated to their allegations.

However, it appears to be hon. Catherine Vaila was not positive about the defense talks and gave the green light. The ruling means that Tether will offer all of its accounts across exchanges, including Poloniex, Bittrex and Bitfinex. The judge said,

The court agreed that these issues should have been resolved earlier. But it would not completely blame the plaintiff as both parties knew there was a disagreement. “

keep good condition

On the USDT side, the update does not appear to be negatively affecting the network. According to Santiment, active addresses are only 24 hours a day to reject A bit from the September 19 issue. The number of titles has only decreased from 59,300 to 56,900 at press time.

Source: feeling

In terms of market capitalization, USDT remained relatively stable, while no significant dumping was observed. In fact, her dominance During Circle [USDC] It seems to have increased more. With a market capitalization of USDT of $67.92 billion, the spread was more than $17 billion.

Also, while measuring the return net flowCryptoQuant has shown an increase of 1.75% in the last 24 hours. The outflow of exchange amounted to 695,952 million, while the inflow was 684,332. With this spread of 24.379 million, it can be agreed that more and more investors are choosing to stay in the stablecoins.

Source: CryptoQuant

USDT has not only proven its strength in these areas, but it has also increased in trading. Sentiment data showed stablecoin trading increased for one day Unbelievably From September 19. At the time of writing, the trading volume is around 1.1 billion.

Source: feeling

However, there has been no public response from the Tether team regarding the issue. What’s more, the referee’s defense team was unlikely to respond as he had made a rebuttal earlier.

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