Why Tether is dangerous for crypto market

Jul 19, 2019 · 4 min read

Stablecoin Tether is one of the main channels for converting fiat money into cryptocurrency. The recent erroneous emission of 5 billion USDT has once again reminded that the centralisation of projects can seriously harm the entire crypto industry.

Tether (USDT) is a stable cryptocurrency, which allegedly is backed by the US dollar — 1 to 1 and other assets, including loans issued to third…