Is Tether Quietly Exiting the Market?

The stablecoin Tether has been the subject of controversy, speculation, and what some are calling "Weaponized FUD" in recent weeks.

Last week, CryptoSlate reported that Tether removed almost half the USDT in circulation and burned them.

Tether might actually be selling off their assets in preparation to close up shop and leave the market altogether.

Tether is back up to just under a dollar in value, but we still see tokens being reclaimed, with another 100 million USDT sent to its treasury account.

Quick Tether update:- Since the $500M burn, $100M more have been redeemed.

Tether mcap now at $1.92B- Spread to $1 continues to close, now at 1.5%. Bitfinex Premium <100$- Expect redemptions to continue and Mcap to fall at least until USDT is back at $1. pic.

Hasu October 27, 2018.Buying Back the StockIf Tether actually is planning an exit from the market, as Hasu speculates, then these massive transfers of USDT could be the company buying up coins at a discount while the value was low then destroying or retiring them, and crediting themselves the value of the coin.

Buying back their tokens in this way has the potential to make Tether millions by removing discounted USDT from circulation and reclaiming their fiat value.

If the powers that be behind Tether have decided to wind the project down, selling off their inventory before doing so would be a good way to do it.

A Tether exit has the potential to clear the playing field for these new stablecoins while allowing the company itself to reclaim fiat assets by gradually removing USDT from the market and selling them off.