Tether posted a press release on their website today saying that they’re expecting lawsuits based on research they call “Meritless and Mercenary.” Tether has been under investigation by the New York Attorney’s General office for nearly six months now, with a deadline for the firm and Bitfinex to hand over documents come October 14th.
Massive Spikes and Weird Correlations
Tether has been subject to much scrutiny over the past few years as they continue to print hundreds of millions of their USD pegged digital tokens. In just the past two years alone, the circulating supply of USDT has increased nearly ten times over, from just $450M to $4.1B today.
A study done by the University of Texas published in June of last year was making the claim that Bitcoin’s price was majorly affected by the issuance of new USDT tokens. Just…