The price of Tether [USDT] has fell to down as low of $0.96 USDand is presently continuously falling as investors are pouring money into any cryptocurrency in exchange for USDT,thatconjointlybrought a rally in major crypto currencies. However, Bitcoinbroked the$6500 USD price mark today.
Exchanges like KuCoin have already suspended USDTcommerce. However, the firm tweeted recently thatit’ssuspended all withdrawals and deposits for Tether [USDT], laterpermitting thetransactionsonce moreinfourhours.
A majority of traders argue that the USDT cryptocurrency is not actually backed by actualdollars.The firmhas however didn’tprovided anyproofof its holdings tothe general public till yet.
However, Some argue that Tether [USDT]is relatedto Bitfines. Nouriel Roubini recently tweeted that the scam issetting out tounraveḷ.