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Everything you need to know about Tether, the cryptocurrency academics claim was used to manipulate bitcoin
Tether is in the frame again after a paper from the University of Texas at Austin claiming it was used to manipulate the price of bitcoin.
Academics at the University of Texas on Wednesday published a paper concluding that the US-pegged cryptocurrency Tether had influenced the price of bitcoin.
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File photo: Members...
A controversial cryptocurrency is exploding as traders look for safety away from bitcoin’s wild swings
Bitcoin trades paired against Tether's USDT, a stable-coin, now make up 14% of bitcoin trading volumes.
Recent falls are largely down to market fears after reports that cryptocurrency exchanges Bitfinex and Tether being subpoenaed by US regulators in December.
Both Bitfinex and Tether, which share a CEO, have been accused of fraudulent behavior.
The relationship with Friedman LLP "dissolved" due to the auditors' "excruciatingly detailed procedures," Tether said in a statement.
The hack led to speculation online and in the press that Tether did not hold the dollar reserves it claims are backing its cryptocurrency.
Tether, the US company behind a cryptocurrency pegged to the dollar, on Tuesday said $31 million had been taken from its main wallet on Sunday.