Tether CTO Paolo Ardoino says Tether has been subject to a “coordinated” FUD campaign by those hoping to profit from shorting the US-dollar-pegged stablecoin.
As part of a 12-part Twitter thread refuting these rumors and slamming FUD spreaders, Ardoino argued that the company has been collaborating with regulators and has increased transparency efforts, as well as noting its recent commitment to phase out its commercial paper exposure.
He argued that Tether has “never failed a redemption,” adding that in just the last 48 hours, Tether has redeemed around 10% of its total assets, which he said is “something almost impossible even for banking institutions.”from $45 billion to $8.4 billion this month, intending to clear out its commercial paper backing “in the coming months.”
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