Review on 3X Short Tether Gold Token by Jaybanty Huzzle
3X short tether gold token
The cryptocurrency project platform am about to introduce you to is called "3X Short Tether Gold Token".
3X Short Tether Gold Token is a crypto currency project which is been controlled by the owners who are been known as Bitfinex. In March 2019 the idea of granting loan to affiliate companies was introduced by the platform.
According to the New York Attorney General, "Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie".
Tether is called a stablecoin because it was originally designed to always be worth $1.00, maintaining $1.00 in reserves for each tether issued. During March 2019tether consultant brought a report that tether was backed by only $0.74 in cash and cash equivalent.
In May 2021, Tether published a report showing that only 2.9% of Tether was backed by cash, with over 65% backed by commercial note.
Author David Gerard was quoted by the Wall Street Journal saying that Tether "is sort of the central bank of crypto trading. Tether surpassed Bitcoin in trading volume with the highest daily and monthly trading volume of any cryptocurrency on the market.
There has been an issue of price manipulation on the platform.
Pros
- Surpassed Bitcoin in trade volume
Cons
- There has been issue of price manipulation
