Wall Street veteran says these Tether risks are behind crypto market selloff


Wall Street veteran says these Tether risks are behind crypto market selloff

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Wall Street veteran says these Tether risks are behind crypto market selloff

Caitlin Long, the founder of crypto bank Avanti Bank and a leading blockchain advocate, took to Twitter yesterday to explain the market sell-off, linking it to stablecoin issuer Tether.

Long reasoned that Tether, which revealed the assets that back its dollar-pegged currency for the first time last week, could have contributed to the brutal market drop, one that liquidated over $2.38 billion over the past day alone.

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