Crypto Exchange Kraken Fights Back Against Tether Manipulation Allegations

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Cryptocurrency exchange Kraken, recently published a blog post defending itself against the Tether manipulation accusations seen a couple of weeks ago. According to the company blog post, the article posted by Bloomberg News on Tether inexplicably fails to comprehend basic market concepts, such as arbitrage and related market fluctuations. The company stated:


“Unlike BTC, ETH, XRP, or other cryptocurrencies, USDT does not experience the same level of volatility because it is asset-backed.  The lack of volatility encourages traders to place bigger orders in the orderbook within a tight range, reflecting their confidence that each USDT is worth ~$1 US dollar.”
 

 


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