Tether questioned over withdrawal issues in Singapore, CTO Paolo: Think clearly before spreading FUD
A post by Dr. Julian Hosp, CEO of the cryptocurrency company Cake Group based in Singapore, seems to have alarmed many people, as he suggested that one day USDT might not be redeemable for US dollars. This has sparked a rebuttal from CTO Paolo, who provided evidence to show that such claims are baseless.
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"Flip-flopping" Emails?
The CEO of Cake Group, Dr. Julian Hosp, posted a screenshot earlier today on 9/25, indicating that Tether's policies in Singapore continue to change, casting doubt on whether USDT can be redeemed.
After media reports started circulating, Dr. Julian Hosp clarified his statement, saying he wasn't commenting on the redemption status but merely expressing his reaction to the email received.
Ok, so, I won't be able to tell you if redeeming $USDT into $USD is actually possible, due to being in #Singapore, which was a recent change to the @Tether_to ToS from one day to another. Interesting. pic.twitter.com/1YzNqkbjMO
— Dr. Julian Hosp (@julianhosp) September 25, 2023
Tether CTO Paolo: How about this old announcement?
Tether CTO Paolo responded, suggesting before spreading FUD, could you please take a look at the web archive, okay? This is content from January 2022, which specifies that Tether's restricted jurisdictions include Singapore.
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