Ongoing criticism for several years notwithstanding – USDT (aka “Tether”).remains the stablecoin of choice in the Asian crypto markets.and hence in a globally dominant position.
BitcoinVN has thereby taken the logical choice to offer USDT deposits and withdrawals on its cryptocurrency exchange with direct access to the Vietnamese banking system or alternatively cash withdrawals in major locations across Vietnam.
In the third quarter of 2020 Tether became the first stablecoin to be issued on the Solana blockchain, which managed due to the strong backing by FTX / Alamaha Research around Sam Bankman-Fried to be one of the major challengers to Ethereum in the “DeFi” space.
While Tethers total issuance kept climbing from around 20 billion USD.to over 70 billion USD just in 2021,.the ceaseless rumors about insolvency / lack of full backing have been providing.numerous job opportunities in the industry by writing headline-driven articles. and tweets of how the world’s leading stablecoin is looming on imminent collapse.
![[Caption Tethers official response to the way they conduct their business]](https://news.bitcoinvn.io/wp-content/uploads/2021/12/Tethers-official-response-to-the-way-they-conduct-their-business.png)
[caption: Tethers official response to the way they conduct their business]
As always – do your own research when utilizing any crypto assets.
Tether recently cleared itself from long-ongoing legal proceedings with the New York Attorney General’s Office in relation to the disputed backing of USDT. The agreed settlement with the NYAG included Tether/Bitfinex admitting to no wrongdoing.
Solana on the other hand is a Blockchain launched in 2019.which thanks to a more uncompromising approach towards heavy centralization.is able to perform transactions far faster and cheaper than Ethereum.and has thereby increasingly risen in market share in the “DeFi” and NFT space.
