The issuer of Tether (USDT) conducted an analysis of The Wall Street Journal (WSJ) articles and accused the publication of bias against the company.
More Outdated Allegations from the WSJhttps://t.co/3kBRT4BcjB
— Tether (@Tether_to) March 10, 2023
According to the analysis, from January 1, 2021 to January 1, 2022, the newspaper published 84 articles about collapsed FTX, with the vast majority of them negative. The company noted that many firms backed by the media have collapsed.
«Tether, on the other hand, consistently met its commitments to increase transparency, cooperate with regulators, and adjust its reserves», the statement said.
The company also mentioned the difficult period during the collapse of the Terra ecosystem. At that time USDT temporarily lost parity with the dollar, however the issuer did not experience any trouble meeting obligations and within a day redeemed assets worth $600 million.
According to the statement, Tether currently has fewer than 1,000 active users and extremely stringent KYC/AML procedures, which “at minimum meet the standards of the Bank Secrecy Act”.
The issuer also mentioned close cooperation with law enforcement. The platform helped authorities conduct more than 160 investigations and froze over $400 million.
«Biased coverage of events in traditional media, such as the WSJ, will not stop Tether from continuing to build a global financial infrastructure that benefits people in developing markets», the press release said.
In July 2022 the company denied rumors about dominance in reserves of Chinese commercial papers.
In December of the same year the issuer called a WSJ article on USDT “the hypocrisy of media asleep at the wheel of information”.
In March 2023, Tether criticized a WSJ article on “shadow markets.” Company representatives said many of the conclusions in the piece were “inaccurate and misleading.”