What is Tether?
Launched in 2014, Tether is a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner. Tether works to disrupt the conventional financial system via a more modern approach to money. Tether has made headway by giving customers the ability to transact with traditional currencies across the blockchain, without the inherent volatility and complexity typically associated with a digital currency. As the first blockchain-enabled platform to facilitate the digital use of traditional currencies (a familiar, stable accounting unit), Tether has democratised cross-border transactions across the blockchain.
Tether’s Smoke And Mirrors
Much of bitcoin’s 2017 boom was market manipulation, research says
New research says at least half of the 2017 rise in bitcoin prices was due to coordinated price manipulation using another cryptocurrency called tether.
The 66-page paper says tether was used to buy bitcoin at key moments when it was declining, which helped “stabilize and manipulate” the cryptocurrency’s price.
“In general I research things that are potentially illegal, and there’s a lot of rumors surrounding potential questionable activity in cryptocurrencies,” says University of Texas finance professor John Griffin, who has a decade-long track record of flagging fraud in financial markets.
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