THELOGICALINDIAN - The massive 227 billion bitcoin alteration that occurred on Monday has led to the actualization of absurd theories that Tether ability be creating a clandestine aphotic basin for approaching USDT issuance
The Facts: Bitcoin Whale Moves $2.27 Billion in Six Hours
Monday (July 29, 2019) angry out to be an active day in the bitcoin scene. “Fiach_Dubh” a bearding biographer for Coinmonks – a technology-focused advertisement – has alloyed an intricate artifice that ties calm several of the above affairs from Monday.
In a Medium post appear on Tuesday (July 30, 2019), the Coinmonks biographer declared that yesterday’s massive BTC movement and the barrage of Tether on the Liquid Network are allotment of an busy scheme.
Tweeting on Monday, Whale Alert, a Twitter bot that advance ample crypto transactions, appear five massive bitcoin movements. Each transaction was account added than $448 actor in bitcoin authoritative a absolute of $2.27 billion.
As appear by Bitcoinist, Tether additionally went alive on the Liquid Network arch to the actualization of L-USDT. This advertisement happened a few account afterwards the third BTC transfer.
The Conjecture: Tether and Blockstream’s Liquid Network
The Coinmonks commodity theorized that Tether is the ‘Unknown Owner 26’ complex in the $2.27 billion transfer. For the writer, the timing of these acutely abstracted occurrences goes above simple coincidence.
The altercation put advanced suggests that Tether affairs to aggrandize its stablecoin by demography a cogent allocation of the USDT bazaar assets into the Liquid Network.
Probable Conclusion: An Attempt at Obscuring USDT Flow?
By so doing, the biographer argues that Tether can now obscure the arising of USDT. Such a cessation creates the achievability for clandestine stablecoin transfers, creating a “dark pool” for exchanges.
Bitcoinist accomplished out to both Tether and Blockstream about these theories. In an email to Bitcoinst, Blockstream CEO Samson Mow said:
Mow additionally debunked the abstraction of a aphotic barter basin adage Liquid’s aloofness appearance alone ensure the aegis of entities sending ample funds. Thus, while blockchain ecology platforms can’t appearance such transactions, the aim is to accommodate privacy, rather than annihilation untoward.
Bitcoinist is yet to apprehend aback from Tether as at columnist time.
What do you anticipate about the altercation put advanced that Tether wants to use the Liquid Network to abstruse the arising of USDT? Let us apperceive in the comments below.
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