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“The Mainstream Media Is Hypocritical” – Tether (USDT) Speaks On Rising FUD

The popular crypto firm Tether is behind the largest stablecoin in the world, which is pegged at the US dollar price. Lately, the firm has had to deal with rumours of its impending fall or declaring bankruptcy from the media, and as such, on the 1st of December, 2022, the firm released a report on its website disregarding the rumour and blaming it on the mischievousness of the media.

The firm emphasised the need for an investor to have a mind of his own, especially when the mainstream media seems to be determined to peddle lies and half-truths.

The Media Are Very Misleading On Purpose 

Especially with the recent train of events in the crypto industry, different theories and predictions of bankruptcy and collapse have been flying around. Tether Inc. has especially borne the brunt of this until the firm decided to speak up yesterday, on December 1, 2022.

The firm acknowledged that the scepticism of the community is a result of the fraudulent activities and scams that have become rampant in the community, but it encouraged the community to not be influenced by the past occurrences and to learn to accept the truth, especially when there are genuine facts and statistics to back it up.

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According to the post made on the website, it is apparent that Tether is not pleased with the amount of time and sheer energy dedicated to the prediction of its fall and has told the media to direct the efforts in investigating real fraudulent firms in the industry.

The post stated that one of the main reasons scam projects continue to get away with precious funds is that they have found a way to gain the public’s vote of confidence by pretending, citing the example of the co-founder of the failed FTX Exchange, Sam Bankman-Fried, who “said the right things” that diverted people’s attention.

According to the post, the firm wonders whether the media do not really care about telling the truth, but only money and political bias matter to them.

Despite all speculations, Tether is still at the top of the stablecoin industry, with 65.6 billion USDT in supply and 46% of the market.

Tether Has A History Of Lying And Deceiving

The community has had several reactions since the Tether post was made. While some members of the community are empathetic and have tried to understand what the firm must be going through, others believe that Tether is just wailing loudly.

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According to them, they would remain unmoved until the proposed audit is done. This is because they believe that the firm has a history of being economical with the truth.


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Jimmy Kelly

Jimmy is one of the news journalists for Tokenhell. He is a big crypto enthusiast and bought his first crypto token way back in 2015! Jimmy publishes updates about crypto tokens, events, price analysis and regulation among many other subjects.

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