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“Tether Doesn’t Need to Go Public”: USDT Issuer Dig at Circle Heats up Stablecoin Battle
In a recent statement, the issuer of Tether (USDT), has made a bold claim that it does not need to go public. This announcement comes amid heightened tensions in the stablecoin market, as other major players like Circle, the issuer of USD Coin (USDC), continue to push for transparency and accountability.
The move is seen by many as a direct attack on Circle’s efforts to promote the importance of going public, particularly in light of recent controversies surrounding USDT’s reserves. Critics have long been skeptical of Tether’s reserve composition, with some claiming that it does not hold sufficient reserves to back its issued tokens.
Tether’s refusal to go public has led many to speculate about the true nature of its reserves and potential instability. In response, Circle has repeatedly emphasized the importance of transparency in stablecoin operations, arguing that going public would provide much-needed clarity on these matters.
The situation highlights the growing divide between major stablecoin issuers, with some opting for secrecy while others push for greater openness.
Source: https://u.today/tether-doesnt-need-to-go-public-usdt-issuer-dig-at-circle-heats-up-stablecoin-battle
