Tether and Deutsche Bank came face to face

Deutsche Bank's analysts claimed that stablecoins, including Tether, would harm the crypto industry and that Tether's solvency is inconsistent. The response from Tether was not delayed. He criticized stablecoin issuer Deutsche Bank.

Deutsche Bank, one of the actors of traditional finance, targeted stablecoins, which are reflected as the new generation of finance. Analysts at Deutsche Bank suggested in a report that 49 percent of stablecoins have a lifespan of eight to ten years and will eventually fail.

Deutsche analysts specifically made Tether a main target. Analysts stated that Tether's solvency is suspicious and inconsistent. Deutsche Bank labeled Tether with a lack of transparency.

Tether criticized Deutsche Bank

The response from Tether was not delayed. Tether reacted harshly to Deutsche's report.

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Reacting to the Deutsche report, Tether made important statements. Tether stated that Deutsche's report lacked clarity and significant evidence. The stablecoin issuer stated that Deutsche prepared a report with vague claims instead of meticulous analysis.

A Tether spokesperson said that the report did not provide concrete data to support the bets it made while trying to predict the course of stablecoins.

Reacting to Deutsche Bank, Tether said, “It seems ironic to question the reliability of any financial institution, especially one with the track record of Deutsche Bank . Deutsche Bank's history of fines and penalties raises questions about its own position to criticize others in the industry.” he commented.

Tether is the largest issuer in the stablecoin space. Tether's stablecoin product USDT has a market value of $110 billion. USDT achieved a transaction volume of 45 billion dollars in the last 24 hours.