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25 July 2021

Jim Cramer calls Tether (USDT) the 'Achilles heel' of crypto while USDC gets auditor greenlight

Jim Cramer calls Tether (USDT) the 'Achilles heel' of crypto while USDC gets auditor greenlight


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Jim Cramer calls Tether (USDT) the 'Achilles heel' of crypto while USDC gets auditor greenlight.

Triggered by this week’s sell-offs, Jim Cramer expressed his concerns that Tether, as “the Achilles heel” of cryptocurrency, brings further risk exposure to markets.

This comes as Circle’s USDC stablecoin gets the nod from auditors Grant Thornton, who signed off on its Account Reserve Report.

In other words, Rosengren pointed out that a significant proportion of Tether’s reserve assets may not return their stated yield during a mass sell-off.

As well as that, accounting firm Grant Thornton signed off on USDC’s Reserve Account Report last week.

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