There’s an $814 Million Mystery Near the Heart of the Biggest Bitcoin Exchange
- After Wells Fargo severed ties, Tether won’t name its banks
- Bitfinex says it’s hired a law firm to contest false claims
The Shady World of the Digital Token Known as Tether
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Among the many mysteries at the heart of the cryptocurrency market are these: Does $814 million of a digital token known as tether really exist? And what is tether’s connection to Bitfinex, the world’s biggest bitcoin exchange?
This is the state of crypto in late 2017, where questions about the companies behind the currencies are multiplying with the profits. While cryptocurrencies appeal to people who lack faith in governments and banks, the digital assets often require a blind trust in companies about which few facts are available.