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Key Takeaways
The Twitter account belonging to Tether’s CEO was deleted in the present day.
The deletion occurred shortly after Bloomberg revealed an investigation into the corporate’s USDT reserves.
The CEO’s final assertion learn “keep tuned” which means that the corporate will have interaction with Bloomberg.
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The Twitter account belonging to Tether’s CEO was deleted in the present day following an issue over the USDT stablecoin.
CEO’s Twitter Account Is Gone
Earlier in the present day, Bloomberg revealed an investigation into the reserves backing Tether’s USDT token. That report concluded that Tether backed the coin with questionable belongings together with Chinese language debt.
Now, the Twitter account belonging to Tether CEO Jan Ludovicus van der Velde has been deleted, both by himself or by somebody with entry to the account.
Van der Velde’s account was beforehand situated underneath the deal with @urwhatuknow. His final tweet, revealed on Oct. 4, continues to be accessible as an archived web page and anticipated the content material of Bloomberg’s article by a number of days. That message reads:
[A]nother monetary enslaved dying journal making an attempt to give you some #Tether FUD to be able to herald some bucks and delay its extinction for a number of extra days, keep tuned…. #dinosaurs
Even earlier than his account was deleted, Van der Velde remained extraordinarily elusive. Some have questioned whether or not the CEO exists or whether or not the title is merely a pseudonym.
Although not less than some media that includes the CEO has been discovered, Van der Velde has largely not engaged with the general public on issues pertaining to Tether and its sister firm Bitfinex.
Does the Deletion Point out Hassle for Tether?
Whereas Tether’s harshest critics imagine that the corporate is getting ready to collapse, it’s unlikely that such an excessive consequence will consequence from Bloomberg’s exposé, particularly provided that Tether has survived numerous controversies up to now.
It’s attainable that Van der Velde’s account was deleted to be able to keep away from battle on Twitter. If Bloomberg’s piece prompted hostile messages, Tether’s CEO could have deleted his account for private causes. In truth, in the present day’s deletion resembles a 2019 incident wherein Craig Wright of Bitcoin SV disappeared from Twitter following an enormous controversy.
But given Van der Velde’s low profile, it appears unlikely that he can be personally focused by anti-Tether teams. Moreover, different Tether executives, resembling CTO Paolo Ardoino, stay lively on Twitter.
Tether Could Retaliate Towards Bloomberg
Right now’s occasions additionally resemble incidents wherein high-profile crypto firms have engaged with mainstream media.
Final 12 months, Coinbase preemptively responded to a New York Occasions article criticizing its racial insurance policies. In one other incident, Binance sued Forbes for defamation over a report on its regulatory techniques.
On this case, it appears possible that Van der Velde (or somebody managing his account) deleted previous statements to be able to put together a clear slate for a struggle towards Bloomberg, as implied in his remaining tweet.
It’s attainable that Tether plans to publicly reply to Bloomberg, or that it plans to problem the media outlet in court docket. The latter risk is merely speculative at this level.
Replace: Tether has responded to Bloomberg on its weblog. This text shall be up to date if additional statements are revealed.
Disclaimer: On the time of penning this writer held lower than $75 of Bitcoin, Ethereum, and altcoins.
This information was dropped at you by Phemex, our most well-liked Derivatives Accomplice.
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