Yesterday brought to the open something that many within the cryptocurrency community had feared/believed for a long time. Tether is not 100% backed. While a revelation like this would ordinarily sink the market in a pit of despair, this time was different, in fact, Bitcoin cited a modest rise of 2.2%… not bad considering this could be classed as pretty earth-shattering news. So why didn’t the market collapse after this latest Tether FUD?
Why Bitcoin didn’t collapse after the Bitfinex/Tether FUD