Tether Used Reserves to Buy Bitcoin not a complete surprise comments Matt Branton, CTO of Neutral

Tether has admitted to using asset reserves to invest in Bitcoin, meaning that it has not consistently maintained its 1:1 USD peg, strongly misleading its investors. This latest revelation to emerge in Bitfinex’s battle with the New York Attorney General’s office adds to the growing uncertainty, instability, and lack of transparency increasingly associated with Tether.   Matt Branton, CTO of Neutral and architect of Neutral Dollar, a next-generation stablecoin pegged to a basket of four live stablecoins for increased stability, liquidity, and transparency, has weighed in on the matter.  …

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Tether / Bitfinex Debacle – The Industry Needs Transparency says CTO of Neutral

The New York Attorney General’s (NYAG) office revealed on Thursday that iFinex, the company behind both Tether (USDT) and Bitcoin exchange Bitfinex, is coming under investigation for fraud. As a result of this news, Bitcoin dropped by 5% in a span of just under thirty minutes, showing the sheer impact this has had on the space.   On the back of this, Neutral, an open financial protocol, offering financial instruments to the cryptocurrency space comments on the investigation.  Neutral recently launched its first product; Neutral Dollar (NUSD) — an aggregated…

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