Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn

What is Tether and its Link with Bitfinex: Concerns for Bitcoin Investors

This article explores the concept of Tether, its connection with Bitfinex, and the potential risks it poses to Bitcoin investors.
2024-07-03 07:58:00share
worried
tether
bitcoin

Cryptocurrency investors have been buzzing about Tether and its relationship with Bitfinex, raising concerns about its impact on the stability of the market. But what exactly is Tether, and why should Bitcoin investors be worried about it?

Tether is a type of cryptocurrency known as a stablecoin, which is pegged to the value of a traditional fiat currency, such as the US dollar. It was designed to provide stability in a volatile market by maintaining a 1:1 ratio with the dollar.

However, Tether has come under scrutiny for its lack of transparency and allegations of price manipulation. Its connection with Bitfinex, one of the world's largest cryptocurrency exchanges, has added to the controversy. Bitfinex reportedly used Tether to cover up losses and inflate the price of Bitcoin, leading to concerns about market manipulation and potential risks for investors.

This article delves into the intricacies of Tether, its link with Bitfinex, and why Bitcoin investors should be wary of these developments. As the cryptocurrency market continues to evolve, it is essential for investors to stay informed and cautious about the potential risks associated with Tether and its connection to Bitfinex.

Bitcoin
BTC
Bitcoin price now
$103,968.78
(-2.78%)24h
The live price of Bitcoin today is $103,968.78 USD with a 24-hour trading volume of $73.74B USD. We update our BTC to USD price in real-time. BTC is -2.78% in the last 24 hours.

Trending assets

Assets with the largest change in unique page views on the Bitget website over the past 24 hours.

Popular cryptocurrencies

A selection of the top 12 cryptocurrencies by market cap.
Download app
Download app