The situation of the crazy rise of the bitcoin in 2017 is still vivid, but there are public opinion that the behind-the-scenes push is actually a dangerous USDT. Since the emergence of the USDT, the influence on the digital currency market has been significant and far-reaching. USDT is the digital currency issued by Tether, which is said to be issued strictly in accordance with the concept of “dollar-based”.

Some people think that the main reason for the recent decline in Bitcoin is that the USDT is over-issued. Now many foreign countries are strengthening the regulation of digital currency, and China is cracking down on bitcoin transactions.

The chain has an exclusive depth survey of the App, Tether "manipulating the market" storm truth, the USDT that is suspected of serious over-exposure will collapse?

The USDT was revealed to be the behind-the-scenes hand of the bitcoin skyrocketing

Since the emergence of the USDT, as a function of the stable value of the digital currency and the trading currency, its trading volume has been at the forefront of the trading volume of more than one thousand digital cryptocurrencies in the world for a long time, and its influence on the digital currency market is significant and far-reaching. At the same time, as a decentralized, node-autonomous market belief, the centralized USDT and its issuing company Tether have always existed in various disputes.

What is the USDT crazy increase in order, where is the 1:1 corresponding US dollar account and how is it audited? Can the USDT holder user redeem the dollar in the corresponding face value? What is the relationship between Bitfinex and Tether? Is it really the behind-the-scenes black-handed push for the bitcoin phase?

These key questions are waiting for answers.

On February 8th, a member of the Medium called Bitfinex'ed published a public recording of Tether and Bitfinex executives, pulling Tether back in the "super-send" and "manipulating the market" back to public opinion. The chain's App research team then launched a series of investigations.

The public record of the link was obtained and compiled by the app: Bitfinex and Tether executive Phil Poter said in the conversation: "We have had some problems with the bank before, but we can find a way to solve it, such as registering a new one. The company account or go to the shell company. Everyone in the bitcoin industry will have a variety of skills to achieve the goal. Due to the scandal of Mega International Bank, which broke out six months ago, this time we can't deal with it in the past. Taiwan is now Strictly reviewing offshore financial processes."

The USDT is a digital currency issued by Tether. Although the USDT is also a type of digital currency, it is significantly different from the decentralization of Bitcoin. The USDT claims to be issued strictly in accordance with the "US dollar standard" concept. Every time a USDT is issued, one dollar will be stored in the bank account, which greatly ensures the stability of the USDT, and the value of the currency will fluctuate around the price of the US dollar.

With the increasingly strict regulation of digital currency trading policies around the world, many governments have banned the exchange of digital currency in the exchange. In this case, the USDT, which is almost equivalent to the US dollar, becomes the entry ticket to the currency market. If you want to buy digital currency, you can purchase a certain amount of USDT, wait for the right time to buy the bottom, and use the USDT to purchase the digital currency. Similarly, When selling digital currency, first change the digital currency to USDT, and then withdraw the money into the corresponding legal currency.

This mode of operation is more secure than buying digital currency in separate currency, and Tether and USDT have become an important link in the world of traditional banking and digital currencies.

According to Coinmarketcap.com, there are a total of 2.223 billion USDTs circulating in the market, and the current price is $1, which means that Tether has issued a USDT worth US$2.223 billion. If you follow Tether's legal operating model, there should be at least $2.2 billion in deposits in your account to correspond to the USDT issued in equal value.

This is back to the super-issue issue mentioned at the outset. In the face of public, user, and regulatory issues, Tether does not currently provide evidence through public channels to prove the existence of this reserve.

According to the chain's APP survey, as a passport to enter the “coin market”, USDT is currently active on major trading platforms. It seems that it is backed by the dollar's blessing. In fact, no one knows that the USD corresponding to each USDT is in the market. where.

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