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Tuesday

02 March 2021

Tether Settlement Seen As Positive Step for Bitcoin Industry - Decrypt

Tether Settlement Seen As Positive Step for Bitcoin Industry - Decrypt


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The NY AG's settlement mandates that Tether will have to provide quarterly reports on the funds held in its reserves.

That will include public disclosures of the assets backing Tether, including any loans to or from affiliated entities. .

There have long been fears in the crypto space that Tether was creating unbacked Tethers, and that Bitcoin’s price was being artificially inflated.

In 2019, researchers John Griffin and Amin Shams conducted a study concluding that purchases of Tether were timed following market downturns and resulted in sizable increases in Bitcoin’s price during the price surge in 2017.

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