CEO Binance concerned about the possible problems in case of a fall Tether USDT

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Head Binance, Chanpen Zhao, expressed their concerns about the Tether (USDT) at a recent event Korea Blockchain.

The crypto currency exchange Binance is one of the largest in trading volume with a Tether, so, answering a reporter’s question Ran NeuNer, head of the exchange said that the possibility of fall of the Tether is a cause of concern, therefore, exchange lists and other stabilini.

“We have seen that Fiat currencies have a long history, much longer than that of cryptocurrency. Therefore, the anxiety associated with them is always there, that’s why we have included a listing stabilini such as TrueUSD, and others.”

TrueUSD adding to the list, Binance have connected it with the Tether, allowing the user to choose which of the most stable coins of them better to use.

Support team Bitfinex

Chanpen, Zhao also expressed support for the Bitfinex team, noting the seriousness of the situation with the charges:

“… I personally have not seen their Bank accounts, but from a logical point of view. They have quite a lot of profit from their normal exchange activities that they did not need to do any manipulation of the Tether. I think the reason they don’t want to provide their Bank account details, is that if they specify a Bank that they use, the local Central Bank could order the Bank to close it”.

The atmosphere around the Tether became heated when Bitfinex and Tether was accused of manipulation of the price of Bitcoin two researchers from the University of Texas.

In December, the Commission on trade in commodity futures of the USA has called for the proceedings of the representatives of Bitfinex and Tether, after investors expressed concern about these problems with price gouging.

Passion around Bitfinex and Tether

In January there were reports about the subpoena, as well as news that the company Tether has terminated its relationship with audit firm, which hired for internal audit.

Previously published the results of the audit conducted by the law firm Freeh Sporkin & Sullivan, LLP (FSS), which is not considered relevant in the auditing activity, status of Bank accounts Tether and the appropriate number of money, supporting issued tokens. But many sceptics claim that the document issued by the FSS cannot guarantee the actual state with the financial support of token USDT.

The situation is definitely dangerous to Binance, because if USDT will decrease, this will surely create significant problems for users of crypto currency exchange.

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Tags: Binance Bitfinex Tether USDT TrueUSD, Chanpen Zhao

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