According to the official report of Tether, a huge amount of tokens USDT were withdrawn from circulation. Earlier, the media reported that Bitfinex crypto-exchange has transferred 630 million USDT tokens back to the Tether repository.
Over the past month, Tether’s market capitalization (USDT) has continued to decline and currently stands at only $ 2 billion. According to the latest report, the company will destroy 500 million USDT tokens that are in Tether’s own wallet.
The official statement of the company is as follows :
“During the last week, Tether withdrew a significant amount of USDT from the turnover of tokens. In this regard, the company will destroy USD 500 million in its own wallet. For further interventions on the market, about 466 million USDT will remain in the wallet. ”
At the same time, the company still claims that each issue or destruction of USDT tokens is accompanied by a deposit or a withdrawal of the corresponding amount in US dollars in the company's bank account. For those who wish to track the emission of USDT tokens, you can familiarize yourself with the OMNI blockchain service.
However, the transparency of Tether is still being questioned by many industry experts. Experts say that there is a specific relationship between Tether and the Bitfinex exchange.
The company has been accused several times of using an additional issue of USDT tokens without adequate security in the account with physical US dollars. As a result, free tokens could be sent by the Bitfinex exchange to manipulate the price of Bitcoin .
