The news that tether has an account in a Bahama’s bank, has seemingly set the stablecoin back on track.
Though Deltec Bank has not commented on the matter, and there has been already a lot of speculation over the validity of the information. Despitе this the community is joyfully observing how the stablecoin is returning to its familiar dollar mark.
WHY IS IT IMPORTANT?
- Tether is leading figure, albeit a controversial one, in the stablecoin market with a large community, hence any sudden moves could seriously impact the market.
- This news also comes at a time, when the company has been burning huge amounts of USDT, which could mean that a number of those who backed tether might have stopped doing so.
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