Cumberland, one of the investment firms working on cryptocurrencies, clarified the issue after making a statement that scared crypto investors yesterday.
The Cumberland team shared on Twitter on Tuesday, A major stablecoin like Tether (USDT) If it loses its parity with the US dollar, the market will change from now. may decline more drastically. had stated.
pegged to assets such as dollars and maintain its value at a certain level When the expected stablecoins lose their equivalence, it can cause crises, as in the case of TerraUSD (UST).
The company deleted the tweet shortly after making this post and shared the following update on the subject today:
“Yesterday we tweeted about the possibility that one of the leading stablecoins (to the USD) could lose parity and this could push the markets further. Looking back, we can only guess why people may have misinterpreted this tweet. That’s why we removed the tweet.”
Cumberland, in the continuation of this statement, is currently the largest in the market. “the two stablecoins do not have the full amount (underlying) or any information that indicates that they are not liquid enough” stressed.
Although Cumberland operates only in the crypto money market in its own right, the company acts in accordance with the DRW family. With more than 25 years of experience, this company has offices around the world.
Cumberland, who has such a relationship, about a possible stablecoin crisis The fact that he had tweeted worried crypto money investors. An analysis made by Just because of this tweet, investors opened a total of $ 100 million short positions. is estimated.
This statement made by Cumberland was also answered by Tether’s CTO Paolo Ardoino. Ardoino, “Cumberland probably had a new intern do the market analysis. I do not know what to say. Tether is in pretty strong shape.” said.