Ran NeuNer Shares Recipe of How Tether is Fooling Investors

With events and concerns in relation to Tether’s dollar backing and news related to Tether’s malicious strategies, Ran Neuner, the Crypto Manran, took to his twitter handle suggesting a perfect game plan on how Tether is doping investors.

Ran NeuNer explains how Tether me pocket over USD 30 mn

Ran NeuNer, CNBC Africa’s “Crypto Trader” host, has expressed his outrage on Twitter pertaining to Tether redeem and burn 600 mn of USDT tokens. He claims that Tether was able to make about $30 mn because of last week’s five percent discount.

His tweet immediately provoked a heated discussion with Twitter users agreeing that the company behind the world’s biggest stablecoin is not playing fair.

While he shared his disappointment, he again tweeted a step by step formula on how Tether is (or any other stablecoin could) fool investors.

Explaining Tether strategy, he tweeted

In the above tweet he, mockingly, asks Tether on how do they plan to spend their USD 30 mn earning by using this dubious strategy

Another post from independent cryptocurrency researcher named Su Zhu and Hasu has put up an explanation, in detail, on how Tether was maliciously exiting. In their post on medium titled as “Tether is exciting and nobody noticed”, the two types of research bring out finer points to explain the whole strategy

The post states

“Over the past 9 days the treasury has received five major deposits, meaning these tokens have been retired from circulation. $100M, $200M, $200M, $50M and $50M for a total of $600M”

The post also establishes certain observations which are,

  • “Stablecoin competitors have a strong interest in “weaponized FUD” against Tether to disrupt its massive network effects and liquidity
  • The market currently considers Tether so risky that they demand a 3–4% risk premium for holding it
  • Tether is incentivized by the discount to keep buying back their tokens, remove them from circulation and redeem them for fiat”

With the data being put out, it looks like Tether isn’t being played fair also suggesting that the most influential stablecoin is no more stable- in pricing as well as in strategy

Will Tether come open and clear its stand? Do let us know your views on the same.

The post Ran NeuNer Shares Recipe of How Tether is Fooling Investors appeared first on BitcoinLinux.