Economist Podcasts Hell for Tether: a cryptocurrency crimped
Feb 25, 2021
Matthew Valencia, The Economist's Deputy Business Affairs Editor and cryptocurrency market expert, delves into the controversial stablecoin Tether and its regulatory challenges, exploring its impact on Bitcoin volatility. The discussion also sheds light on the financial struggles faced by Ugandan parliamentarians as they strive to meet public service needs, alongside a fascinating examination of China's push for better physical education in schools in response to rising youth obesity and cultural perceptions of masculinity.
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Tether's Market Influence
- Tether significantly influences the cryptocurrency market, with two-thirds of Bitcoin purchases on active exchanges using Tether.
- This highlights Tether's essential role in cryptocurrency transactions and market dynamics.
Tether's Regulatory Scrutiny
- Tether faces investigations, with regulators claiming it misrepresented its dollar backing.
- This scrutiny raises questions about Tether's stability and its broader implications for the crypto market.
Mandatory Reporting
- Firms like Tether need to prepare for mandatory reporting of their activities.
- Transparency will help reassure stakeholders and improve trust in cryptocurrency markets.