{"id":564017,"date":"2020-09-27T19:09:34","date_gmt":"2020-09-27T16:09:34","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=564017"},"modified":"2020-09-27T19:09:34","modified_gmt":"2020-09-27T16:09:34","slug":"bitfinex-cto-tether-is-not-bitcoin-btc-usdt-is-centralized","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/bitfinex-cto-tether-is-not-bitcoin-btc-usdt-is-centralized\/","title":{"rendered":"Bitfinex CTO: Tether is Not Bitcoin (BTC), USDT is Centralized"},"content":{"rendered":"
In brief:<\/strong><\/p>\n The CTO of both Bitfinex<\/a> and Tether, Paolo Ardoino, has clarified via Twitter that Tether (USDT) is a centralized stablecoin. His comments come after multiple crypto enthusiasts questioned the decision to freeze a $33 million USDT<\/a> stolen from KuCoin and an additional $2 Million USDT hours later. In the case of the latter, Tether froze $1M USDT on the Omni network and another $1M USDT on the Tron blockchain.<\/p>\n Mr. Ardoino defended the actions of freezing the funds by explaining that Tether has a duty towards users, regulators and law enforcement. He made the statement via the following tweet.<\/p>\n Tether USDt is a centralised stablecoin as others. We have duties towards users, regulators and law enforcement. — Paolo Ardoino (@paoloardoino) September 26, 2020<\/a><\/p><\/blockquote>\n\n
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We have anyway strict rules and parameters for action. We won't slip outside those https:\/\/t.co\/uGUHNtFSqh<\/a><\/p>\n