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UPD: Tether vs the Wall Street Journal

The WSJ released a report earlier in March accusing Tether of shady dealings, citing emails and records from 2018. In response to the WSJ's allegations, Tether published an official statement on their website.

Tether & TheWallStreetJournal logos

In a statement published on their official website in March, Tether criticized the Wall Street Journal for its "outdated, inaccurate, and deceptive coverage" in light of the several critical stories the paper has written of them.

Tether's statement goes on to detail the number and nature of the WSJ's coverage in the period from January 1, 2021, to January 1, 2022. During the selected period, 84 articles were published mentioning Tether. As a rule, the articles were negative in tone. Within the same period, 28 articles about the now-collapsed FTX were published. However, the statement adds, "these were almost all positive."

Tether stressed that multiple companies that had enjoyed media support had gone on to fail, while Tether was continually improving its transparency to its consumers and cooperating with regulatory authorities.

“Many of the shiny companies that mainstream media (MSM) like the WSJ supported during 2022 have been revealed to be among the largest financial failures in history, resulting in the catastrophic loss of funds for countless users and investors. Tether, on the other hand, has continually met its commitment to increased transparency, cooperation with regulators, and adjusting its reserves (Tether completely reduced all commercial paper holdings to zero in 2022),” Tether wrote.

Will Tether continue to receive negative media coverage, and how will the company respond? In order to find out the answers to these questions, we'll continue our observations and keep you updated on the latest news.  

This post is an update to our earlier article: Tether VS Wall Street Journal. Again