Tether (CCC:USDT-USD) is starting up production again after a two-month halt and crypto traders are chiming in on the controversy.
Tether is going to town with its new printing, having added 2.3 billion tokens since the start of the month. That extreme increase in the stablecoin’s size has some investors on social media wary of the crypto.
Tether’s status as a stablecoin has it focusing on maintaining a certain price. In this case, the crypto tries to keep its price at $1 per token. Even so, there is some slight fluctuation to that price from time to time.
Let’s take a look at what Twitter (NYSE:TWTR) users are saying about the Tether crypto controversy.
Tether Crypto Controversy Twitter Talk
Tether is now blocking anyone who demands for transparency, and audits.
This behaviour is totally normal, and definitely not a red flag. pic.twitter.com/HdNCH20XzF
— Mr. Whale (@CryptoWhale) August 23, 2021
#Tether (USDT) is a ponzi scheme, just not in the traditional sense. Tether manipulate the price of #Bitcoin & crypto higher to get more new real money in so that the earlier buyers of Bitcoin & crypto can cash out a little every so often. Indirectly Tether is a ponzi scheme.
— KJ (@knmjohansson) August 21, 2021
Crypto will likely tank hard in a few weeks as Tether sells off their ill-gotten coins for t-bills to make the books fit
— Mt.Gox’ed by USDT (@RealWillyBot) August 23, 2021
Tether is the vast majority of all crypto trading volume. Tens of billions of dollars of alleged volumes, billions of tethers issued every week.
When their Chief Technical Officer does an hour long exclusive interview, for the largest crypto project… 72 views in a week. pic.twitter.com/DqWr5qm1GY
— Bitfinex’ed 🔥 (@Bitfinexed) August 22, 2021
USDT was down slightly over a 24-hour period on Tuesday.
Of course, there’s plenty of other crypto news worth looking into today besides the Tether controversy.
Luckily, InvestorPlace is up to date on all the latest crypto news that traders need to know about. A few examples of what to read about now include what traders need to know about Cardano (CCC:ADA-USD), the price of Shiba Inu (CCC:SHIB-USD) falling, and more news to keep an eye on. You can get up to speed on these topics by following the links below!
More Crypto News for Tuesday
- Cardano Remains One of the Best Ways to Play a Crypto Comeback
- Shiba Inu Appears To Be Going to the Dogs at This Time
- Dear SHIB Crypto Fans, Here Are 3 Big Stories to Watch
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.