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Questions for Tether with Paolo Ardoino & Stuart Hoegner

What Bitcoin Did
10th January 2021

In this interview, I talk to Paolo Ardoino & Stuart Hoegner the CTO & General Counsel at Bitfinex. We discuss Tether FUD, the claims of not being fully backed and price manipulation.

00:03:02 Introductions
00:03:50 Understanding the life cycle of tethers
00:08:37 Is Tether censorship resistant?
00:11:32 Tether's use case
00:14:44 Compliance measures
00:16:46 Deltec Bank
00:18:19 Tether's backing
00:22:04 Tether's Bitcoin assets
00:27:04 Audits and transparency
00:28:38 Price manipulation
00:31:23 Need for improved communications
00:32:58 NYAG vs Bitfinex and Tether
00:36:10 After the investigation…
00:37:06 The class action lawsuit
00:37:39 Regulations for the crypto industry
00:40:44 Security is key
00:42:18 Supported blockchains
00:42:58 Final comments

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“We don’t believe in suing our critics into silence… we think it’s better to counter fiction with facts.”
— Stuart Hoegner

Location: Remotely
Date: Wednesday 6th January
Company: Bitfinex
Role: CTO & General Counsel

There have been claims that Tether has manipulated the Bitcoin price. Still, JL van der Velde, CEO of both Bitfinex and Tether, denied the allegations stating "Bitfinex nor Tether is, or has ever, engaged in any sort of market or price manipulation. Tether issuances cannot be used to prop up the price of bitcoin or any other coin/token on Bitfinex."

As well as market manipulation there have been calls for a full audit of the Tether reserves amidst claims that the stablecoin is not fully reserved.

In this interview, I talk to Paolo Ardoino & Stuart Hoegner the CTO & General Counsel at Bitfinex. We discuss Tether FUD, the claims of not being fully backed and price manipulation.