What is Tether USDT? Who owns it?

Tether is a controversial cryptocurrency with tokens issued by Tether Limited. It formerly claimed that each token was backed by one United States dollar, but on 14 March 2019 changed the backing to include loans to affiliate companies. The Bitfinex exchange was accused by the New York Attorney General of using Tether’s funds to cover up $850 million in funds missing since mid-2018.

Tether is called a stablecoin because it was originally designed to always be worth $1.00, maintaining $1.00 in reserves for each tether issued. Nevertheless, Tether Limited states that owners of tethers have no contractual right, other legal claims, or guarantee that tethers will be redeemed or exchanged for dollars. On 30 April 2019 Tether Limited’s lawyer claimed that each tether was backed by only $0.74 in cash and cash equivalents.

Bitcoin Concierge services allow you to Buy and Sell Bitcoin Online Today and enjoy our free coin concierge service and no fee expert advice.
A hardware wallet is an essential tool for anyone wanting to invest in the crypto markets. Purchase yours here and store your millions in your own secure bank.

Tether Limited and the Tether USDT cryptocurrency are controversial because of the company’s failure to provide a promised audit showing adequate reserves backing tether, its alleged role in manipulating the price of bitcoin, the unclear relationship with the Bitfinex exchange, and the company’s apparent lack of a long-term banking relationship. Author David Gerard was quoted by the Wall Street Journal saying that tether “is sort of the central bank of crypto trading … [yet] they don’t conduct themselves like you’d expect a responsible, sensible financial institution to do.” Tether’s price decreased to lows of $0.90 on 15 October 2018 on speculation that investors are losing faith in the token. On 20 November 2018, Bloomberg reported that U.S. federal prosecutors are investigating whether tether was used to manipulate the price of bitcoin. In 2019, Tether surpassed Bitcoin in trading volume with the highest daily and monthly trading volume of any cryptocurrency on the market.

Having helped numerous entities around the globe Buy and Sell Bitcoin, Alt. Coins, Cash and Bullion for decades, BYCTIO is your go to concierge for expert advice and service. Clients enjoy specialized consultation and one on one Bitcoin services.

We can help you receive free BTC Tokens through our Airdrop expert advice, turn on faucets that release free bitcoin and also show you how to get a job on-line earning Bitcoin by filling out surveys and more. These are some some very easy way to earn free Bitcoin to play with while you test the markets and see how it plays out over time.

For larger purchases of Bitcoin and and other  related Crypto-currency we recommend taking advantage of our step by step guide and education. The topics that will be covered include: How to set up and secure your Crypto Currency for cold storage. Which exchanges are scams and which ones are legitimate. Even seasoned professionals in the business will tell you that navigating the crypto-currency markets can be a minefield and you need smart guidance at no cost.

Practice Areas

BTC Buy/Sell

Buy and Sell Bitcoin Online with ease. Enjoy our free coin concierge service. No-fee consultation.

BYTCIO ICO

Secure your pre-order coins at super discounted rates. Existing clients only, registration is required.

General Counsel

Concerns about the legality of Crypto Currencies is not unwarranted. Allow us to counsel you.

BYTCIO Airdrop

Participate in our global BYTCIO erc-20 Token Airdrop. Receive free erc-20 tokens airdropped weekly.

BTC Arbitrage

Buy and Sell Bitcoin across multiple markets using our proprietary algorithms to keep the difference.

Alt Coins

New Alt Crypto Currency markets are opening all the time. But which ones are worth your time?

“In Cryptography we trust.” Satoshi Nakamoto

Crypto currency is now in it’s first decade and to many they feel as if the crypto boom is over, however nothing could be further from the truth. However most people have difficulty figuring out how to Buy and Sell Bitcoin Online. In market trading the old adage of “Cut your losses and let your profits run” still applies more than ever today. Every expert agrees that now is just the beginning of a new era where computing power will take over electricity as a necessary and fundamental resource without which, we as a human race, will not be able to survive.

Everyone wants to invest and Buy and Sell Bitcoin Online but at this point in time, when crypto is still in it’s infancy, it is still difficult to enter the currency markets. Buying and selling Crypto currencies is not as easy as it seems. Exchanges can be difficult and time consuming. Bitcoin ATM’s are far and wide and the whole process can be maddening. For example: How can you store your digital assets safely to prevent them from loss or theft?

At BYTC.IO we can help Buy and Sell Bitcoin Online at no cost to you. Allow us to be your online coin concierge where no questions are left un-answered. At BYTC.IO we can help you navigate the markets, buy and sell Bitcoin and all other crypto currencies with ease either in person or on-line. Enter the market from the comfort of your own home using a credit card. Access award winning advice and consultation. Participate in the BYTCIO airdrop and ICO (Initial Coin Offering) and much much more.

Firm Partners

Jillian Scotia

Jillian Scotia, Esq. is the managing partner of BYTCIO Cryptography, established in 1983. Jillian has been accredited by the multiple blockchain boards. As a leading specialist in the firm, Jillian uses her experience and personal relationships to get results for all BYTCIO’s clients. She is a talented and hard working coin concierge who never stops trying to bring another win for her clients.

Andrew moore

Andrew holds a Certified Blockchain Cryptography degree, and has over 18 years of experience as a Blockchain consultant in New York State. Andrew has personally handled quite a few high-profile ICO’s, both as a concierge as well as a client. He has represented over 100 Crypto Currencies and consulted with thousands of clients arranging their Bitcoin and Crypto Currency needs.

 

Robert Jordan

Robert might look like a sweet old man, but when he puts on the famous thinking cap, he becomes a cunning lion. You really want a guy like Robert on your team. Finding flaws in code and loose ends is what has made Robert famous in the New York district and beyond as one of the shrewdest, most highly skilled hackers in the business. Don’t miss his price predictions he is never wrong.

Bitcoin Exchange CEX.IO
Bitcoin Exchange CEX.IO
Bitcoin Exchange CEX.IO