An important win for Tether as Coinbase Pro adds support for the most popular stablecoin USDT after months of legal uncertainty around its parent company Bitfinex.
Tether Is Back
New York’s Department of Justice settled on Feb. 23 with Tether and Bitfinex after a two-year-long probe into the company’s operation. The crypto company agreed to disclose the backing of their USDT reserves and pay an $18 million penalty.
Since then, uncertainty around the legal future of USDT has all but vanished, and trust in the most popular stablecoin (currently approaching $50 billion market cap) has returned. A listing from Coinbase Pro yesterday has furthered investor confidence.
It will begin trading on Apr. 26, assuming enough USDT liquidity is available.
Coinbase Pro has, however, announced USDT will not yet be available for regular Coinbase.com users. A separate announcement will be made if and when USDT becomes available for this demographic.
Disclaimer: The author held ETH, BTC, USDT, and several other cryptocurrencies at the time of writing.
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