Latest FUD in Cryptos: USDT – Tether Released Official Statement!

As it is known today Tether (USDT), Due to the heavy selling, it lost its 1 dollar fixed quite slightly and fell to 0.995 dollars.

Tether Releases Statement About The Documents It Has Submitted To Coindesk And The Last FUD

Tether then issued an official statement describing the incident as an attack, raising concerns about the timing, which coincided with the submission of transparency documents to CoinDesk.

In the statement, it was underlined that Tether had completed its reporting obligations to the New York Attorney General’s Office and emphasized that there were no indications of incomplete disclosure or insufficient reserves.

Tether underlined its commitment to transparency in its statement, and affirmed CoinDesk’s decision to withdraw from appealing to a request for materials related to the first quarterly reports to be made public.

Among the documents released are statements from Tether’s banks confirming the existence of reserves and confirming the independent third-party assurance certifications previously disclosed to the public. These materials were intended to allay critics’ concerns about the collateral behind Tether.

Expressing his doubts, Tether pointed out that the timing of the attack on USDT (Tether) across decentralized finance (DeFi) and centralized exchanges coincided with the delivery of materials to CoinDesk.

While Tether has expressed confidence in the accuracy of its financial figures and reiterated its commitment to transparency, the company remained cautious about customer data and urged CoinDesk to refrain from publicly sharing past or current customer names to protect the community from potential risks.

*Not investment advice.