Paolo expressed that the USDt/USD is stable among the top 5 trading pairs by volume on quite few exchanges. Users in response stated, USDt delivers always.
Paolo Ardoino pointed to how it is a great time to be in crypto and on how he was amazed at seeing genuine adoption of the amazing technology. Recollecting 2017, the capacity of the network was nowhere near what it is now, and the layering solution is now boosting the levels of scalability on both the Bitcoin and Ethereum.
He made a special mention of Bitfinex having processed 12,000 transactions on the Lightning Network in February alone.
Tether recently spoke about some scam scheme:
Forged documents are circulating online purporting to be between Tether_to personnel and reps of Deltec Bank & Trust and others. The documents are bogus.
Today we also received a ransom demand for 500 BTC to be sent to bc1qa9f60pved3w3w0p7snpxlnh5t4uj95vxn797a7. The sender said that, unless they receive the BTC by tomorrow, they will leak documents to the public in an effort to “harm the bitcoin ecosystem.” We are not paying.
It is unclear whether this is a basic extortion scheme like those directed at other crypto companies or people looking to undermine Tether and the crypto community as a whole. Either way, those seeking to harm Tether are getting increasingly desperate.
We want our customers, personnel, and the crypto community to stay safe. Please always be vigilant and practice good operational security.
While we believe this is a pretty sad attempt at a shakedown, we take it seriously. We have reported the forged communications and the associated ransom demand to law enforcement. As always, we will fully support law enforcement in an investigation of this extortion scheme.
In response to the scam scheme one of the users stated, it sounds like these documents have been created out of thin air, are backed by nothing substantial, are circulating around the crypto community and having an impact on the prices.
Other users on a lighter note stated: It’s cool. We don’t really believe the ‘leaks’. And, we look forward to you ending all the FUD as soon as possible, by publishing the audit that will show us all the $35bn you have, backing all the Tethers you’ve minted.
Yet another user stated, just like Tether is backed by “reserve”, those documents are backed by “evidence.”
As a more of stopping FUD, some users stated, but at this point wouldn’t you just show the reserves. Wouldn’t that increase confidence and strengthen the brand. Further stating, common sense is the winner here. Someone tried to state: Don’t underestimate the stupidity of the masses.
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