Tether, Inc. posted a response to the new Griffin and Shams paper on Bitcoin (BTC) trading activity in 2017. The paper, which suggested that a single “lone whale” caused the price climb, is faulty and based on incomplete data, stated Tether, the issuer of USDT.
Tether stated that it has “never used Tether tokens or issuances to manipulate the cryptocurrency market or token pricing. All Tether tokens are fully backed by reserves and are issued pursuant to market demand, and not for the purpose of controlling the pricing of crypto assets.” Tether, Inc. claimed the paper was bas...