The stablecoin Tether has been the subject of controversy, speculation, and what some are calling “weaponized FUD” in recent weeks. Some have speculated the company’s lack of transparency surrounding its dollar-backed crypto offering could mean insolvency. Last week, CryptoSlate reported that Tether removed almost half the USDT in circulation and burned them. But, rather than imploding, what if the company is simply winding down?
The theory posed by an independent researcher who goes by the name Hasu. In a post on his Medium blog, Hasu explains why Tether might actually be selling off their assets in preparation to close up shop and leave the market altogether. And, why that could be good for all parties involved.