Tether, the cryptocurrency that makes Bitcoin tremble :


The Techer now gives insomnia to different investors in bitcoin. A real concern is now growing with this cryptocurrency that costs more than $ 2 billion. A scam evolving that aims to destabilize for sure the bitcoin.

At the source of Tether
The tether came into being in 2014 thanks to Jan Ludovicus Van der Velde and 2 of his associates. His ingenuity is to back the Tether to the dollar. In reality, with each issue of this cryptocurrency, a reserve of one dollar is constituted. Therefore, in the field, each Tether is equivalent to a greenback. It then becomes a fixed cryptocurrency and especially indexed to the cost of the dollar. Investors have found in him a perfect ally in this jungle of the stock market quite fragile and risky. A real psychosis has thus settled in the entire bitcoin community. Fears have also brought the American authorities out of their gongs. A judicial inquiry is therefore opened through a subpoena to shed light on this probable scam at $ 2 billion.

Doubts about the legitimacy of the tethers
The question that shakes the cryptocurrency markets is that of the legitimacy of the Tether for some time. Doubts and rumors are flaring on all sides because of the rapid rise of this cryptocurrency and sharp decline in bitcoin that seems to have been fraudulently manipulated. During the year 2017, creators have issued up to 100 million tethers a day. This situation is due to the fact that, in the absence of dollars, tether was used as a means of payment on the exchange markets. Bitcoin thus lost about 100 billion capitalization during the month of January. For now, we are left with a slate of more than two billion tethers in circulation. Which presupposes that Jan Ludovicus Van der Velde and his associates have as many dollars in reserve. They are suspected of falsely inflating the price of bitcoin on their Bitfinex platform.

An impending riposte of the financial gendarmes
For now, we are at a stage of simple hypothesis but given the facts, such a possibility is serious studied by various financial authorities mainly the US regulator who denounces a conflict of interest and fraudulent maneuvers. Towards the end of January, a survey had been opened on the Bitfinex and Tether companies by the Commodity Futures Trading Commission.
0