Stablecoin Tether Incurs Scam Accusations Following USDT Drop

Tether incurred severe criticism after its supposed stablecoin USDT lost its value against the U.S. Dollar.

On Tuesday, the USDT/USD dropped towards 0.95 across several cryptocurrency exchanges, stirring panic among investors who were arbitraging between the crypto-assets.

On the same day, a new report surfaced about Noble Bank, Tether’s banking partner, revealing its poor financial health. The Puerto Rick bank served as a fiat gateway to it, as well as BitFinex, a well-known Bitcoin...

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