Iran Accuses Tether of Manipulating Cryptocurrency Market with Excessive USDT Print

Iran has accused Tether of manipulating the cryptocurrency market by artificially inflating the value of USDT. This claim follows recent allegations that Tether and Bitfinex, a major cryptocurrency exchange, engaged in wash trading to prop up the price of Bitcoin.

The accusations against Tether come after a report by Iran's Central Bank alleged that the stablecoin issuer had manipulated the market by printing an excessive amount of USDT. The report claims that this has led to a significant increase in the price of cryptocurrencies such as Bitcoin, which has been driven up by the artificial demand created by the excessive supply of USDT.

The report also alleges that Tether's actions have allowed it to reap massive profits from the manipulation of the market. It is estimated that Tether has printed over $10 billion in USDT since 2017, which has been used to buy up other cryptocurrencies and drive up their prices.