USDT Listed on Shapeshift, Crypto Community Displeased

Fri, 09/21/2018 - 13:19

Shapeshift announced the listing of USDT on their exchange. Tether is considered a controversial coin that claims backing its tokens with USD on a one to one scale

USDT Listed on Shapeshift, Crypto Community Displeased

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In its tweet on Thursday, Shapeshift announced the listing of USDT on their exchange. Tether is considered a controversial coin that claims backing its tokens with USD on a one to one scale.

There have been large doubts from the crypto community and regulators regarding the integrity of the USDT team. Strong assumptions regarding a direct connection between the Tether company and Bitfinex exchange were made, however, the USDT team made a report confirming its integrity.

Most comments regarding Shapeshift’s tweet that followed had a negative tone, criticizing the exchange for this move. Considering the fact that Shapeshift is currently going away from its no-account scheme and collecting personal user data, the disappointment in the community is getting stronger.

About the author

Yuri Molchan

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets.

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.