RE: Worries Grow That the Price of Bitcoin Is Being Propped Up
It's not clear to me that anyone in the article understands the basic logic of how USDT works. Here are some keywords from the article: "worried, checkered past, alarm bells, suspicions, risk of failure, unclear, concern." Here is a key phrase that does not appear in the article: "evidence of wrongdoing."
Here is my favorite part:
"The Bitcoin community is sensitive to the possibility of price manipulation because a team of academics published an article in early January suggesting that the price of Bitcoin was artificially inflated in 2013 by a single player operating on the largest exchange at the time, Mt. Gox.
One of the author’s of that paper, Tyler Moore, said it could be hard to tell if similar price manipulation were going on today, though he noted that a lack of transparency made it hard for anyone to be certain of anything."