Information blackmail or how Tether scared the market

Information blackmail or how Tether scared the market The market teaches us to be sceptical about all numbers. For example, the poor financial transparency of Tether reserves and the lack of a full-fledged audit led to misinterpretations of reported data.At the end of the first quarter, the issuer of the USDT coin released a report from BDO Italian, in which for the first time reserves in BTC were highlighted in a separate line. This fact was interpreted by some media as a new speculative purchase at the expense of the company's net profit, and the naive market plankton perceived it as a positive for Bitcoin and prepared to buy.However, Bitcoin has always been a part of Tether's reserves - look at the correlation of reserves in the other category with the price of BTC. Tether is a non-public company and these quarterly figures are not independently audited. The BDO report does not contain information about Tether's obligations to third parties, and the categories of other investments and loans were never disclosed at all.In the latest report, Bitcoin took a separate line. This happened against the backdrop of Tether receiving significant profits from operations and reducing the share of competitors in the market. The amount of BTC held in the reserve coincided with the amount of net income generated in the first quarter, which reached $1.48 billion. This led to the spread of the erroneous opinion.In the event of a decrease in the value of the portfolio and a sharp outflow of funds, USDT risks facing a liquidity crisis, which will lead to the loss of its peg to the US dollar. This, in turn, will provoke panic due to the popularity and significant market share of USDT.Problems with law enforcement persist. More litigation lies ahead  the claims boil down to issuing unsecured USDT and manipulating the market.We continue to monitor the situation and take no risks in vain.Profits to yall#ForexChief #USDT #Tether #market #forexnews #stocks #worldnews #BTC #StockMarket