Hindenburg Research Tether bounty (FUD?)

https://twitter.com/HindenburgRes/status/1450562260993298433

We have doubts about the legitimacy of Tether, so today we announce the Hindenburg Tether Bounty Program, a reward of up to $1,000,000 for details on Tether’s backing.

(1/x)

Since the claims that garnered it “stablecoin” status were made, Tether subsequently revealed that its coin was backed only by a small percentage of traditional currency, and that much of its backing consists of holdings in commercial paper issued by unnamed counterparties.

Despite multiple regulatory sanctions over its alleged lack of truthful disclosure about its reserves, and despite Tether now has a $70 billion market cap, Tether still refuses to provide transparency to the public on its holdings.

We are awarding up to $1,000,000 to encourage individuals to help us advance the public’s knowledge of what we believe could be a growing threat to investors.

For full information, visit:

Disclosure: Hindenburg Research does not hold positions, either long or short, in Tether, bitcoin or any cryptocurrency.

I don't know they have the cash for rewarding or not. But it becomes attention and that is FUD or not. IDk, i also skeptical about 70 Billion Tether.

Also because if they in invest in something that loss for example 5% in value, it would be not fully backed. That brings a lot of panic in the past. I think crypto people are more retarded. it would need -50% to make them feel anything :D

But -50% would mean in a midd term -100% :P

I don't know.

Btw what would you expect would happen if tether panic should hit the market? Frozen Tether funds? no withdrawals?

Anyway, I think it is interesting to watch those things. Can have no impact to a really big impact. so why not