Bloomberg Maintains Stand Amidst Criticism Over Tether ‘Red Flags’


Premier news agency Bloomberg is recently drawing flak from the crypto community over its article entitled “Crypto Coin Tether Defies Logic on Kraken’s Market, Raising Red Flags.”

The article, which was published on June 29, received many scathing remarks, including Kraken’s, a renowned crypto exchange offering Tether, and others from the crypto community. One comment even read that “the amount of wrong assumptions and uninformed conclusions in this article is staggering. It is painfully bad.”

However, one representative from Bloomberg commented that “we [Bloomberg] stand by our reporting.” The article possessed weighty comments and analysis from several luminaries, including Andrew Rennhack, a former professional poker player who’s become interested in cryptocurrencies.

Kraken was very adamant in defending its stance on the matter as well. In an article published to express the crypto exchange’s sentiments on the Bloomberg article, Kraken commented that they “take allegations of manipulation very seriously.

Kraken added:

“We strive to operate a platform that is open and fair to all of our users. We understand the significant level of trust our customers place in us to custody their assets and to provide them a safe trading experience, and we would never jeopardize our reputation by engaging in or supporting manipulation on our platform.”

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