"Tether is an accident ready to occur," Brandt tweeted on Aug. 10, in response to a separate submit taking a look at USDT's market cap and the over
“Tether is an accident ready to occur,” Brandt tweeted on Aug. 10, in response to a separate submit taking a look at USDT’s market cap and the overall crypto business’s market cap in keeping with general digital asset quantity. “Tether is simply one other fiat forex,” he added, placing Tether in the identical class as nationwide currencies, such because the U.S. greenback (USD).
It’s unclear whether or not or not Brandt feels that the asset’s danger lies in its fiat forex standing, or its checkered previous as a stablecoin. Cointelegraph reached out to Brandt for added particulars, however acquired no response as of press time. This text might be up to date accordingly ought to a response are available in.
Tether has suffered the brunt of many unfavorable feedback and claims for the reason that expertise’s inception. Many such claims assert the Tether firm doesn’t have adequate U.S. greenback backing to justify the token’s $1 USD peg.
The corporate has additionally confronted numerous lawsuits and regulatory inquiries over time, though the asset continues to thrive, holding a market cap of greater than $7 billion at press time.