The price of Tether [USDT] has fell to down as low of $0.96 USD and is presently continuously falling as investors are pouring money into any cryptocurrency in exchange for USDT, that conjointly brought a rally in major crypto currencies. However, Bitcoin broked the $6500 USD price mark today.
Exchanges like KuCoin have already suspended USDT commerce. However, the firm tweeted recently that it’s suspended all withdrawals and deposits for Tether [USDT], later permitting the transactions once more in four hours.
A majority of traders argue that the USDT cryptocurrency is not actually backed by actual dollars. The firm has however didn’t provided any proof of its holdings to the general public till yet.
However, Some argue that Tether [USDT] is related to Bitfines. Nouriel Roubini recently tweeted that the scam is setting out to unraveḷ.