Tether, the operator of the largest stablecoin, reported a 'record-breaking' Q4 profit partly attributed to gold and Bitcoin price appreciation. JPMorgan expressed concerns about Tether's increasing dominance, stating it's negative for the overall crypto market. Tether responded, calling JPMorgan 'hypocritical' for criticizing stablecoin dominance while Wall Street raves about assets underpinned by Tether.
.@jpmorgan says the increasing concentration in $USDT over the past year is negative for the stablecoin universe and wider crypto markets. https://t.co/xoZmakJ88C
USDT Fraud Growing Dominance of Stablecoins Is Bad for Crypto Markets. Who knew that running the entire crypto market on a gargantuan fraud would be bad for the industry? Oh yeah, me. If tether wasn’t a fraud, they would have produced that audit. https://t.co/FmLF42E6qS
Tether calls JPMorgan ‘hypocritical’ after bank’s analysts say stablecoin dominance is bad for crypto: “Wall Street is currently raving about an asset that’s been underpinned by Tether for the last decade,” CEO Paolo Ardoino told DL News in a statement.
Curious clap back here from @Tether_to on JPMorgan's rather bearish $USDT research note. https://t.co/8hLqPJ6MIv https://t.co/uvbLpqr3m0
Tether calls JPMorgan ‘hypocritical’ after bank’s analysts say stablecoin dominance is bad for crypto https://t.co/dMXGnP0V2s
ICYMI: JPMorgan says Tether’s increasing dominance is negative for crypto https://t.co/7jovC9GSz0
Tether, the operator of the largest stablecoin, is expanding its commanding market share on the heels of record-breaking profits. That’s a risk for crypto overall, according to JPMorgan https://t.co/KVXiPBMszE
EXCLUSIVE: JPMorgan says Tether's increasing dominance is negative for crypto https://t.co/Fa2Xp77JTY
Tether likely does more than $100 million in profit per employee. That is insane 🤯
Tether's 'Record Breaking' Q4 Profit Partly Attributed to #Gold and #BTC Price Appreciation #stablecoin #tether https://t.co/vXCFFSuPzN