Tether Wins Legal Victory and Launches New Crypto Mining Software

Tether Wins Legal Victory and Announces New Mining Crypto Product

Tether, the issuer of the main stablecoin USDT, has achieved a significant legal victory as a class action lawsuit against the company was dismissed. The judge ruled that the plaintiffs’ complaint lacked evidence of injury and did not demonstrate a diminished value of USDT. This dismissal highlights the lack of legal merit in the claims against Tether. The allegations against Tether involved false claims about its reserves being able to cover the market value of all USDT tokens. Tether has consistently maintained that it has sufficient reserves, and the plaintiffs failed to provide concrete evidence of any problems.

Key Points:

Tether wins legal victory as class action lawsuit is dismissed
Plaintiffs’ allegations lacked evidence of injury and diminished value of USDT
Tether has consistently claimed to have sufficient reserves
No concrete evidence provided to support plaintiffs’ claims
Tether regularly publishes independent audits certifying reserves

Tether’s New Crypto Mining Product

Tether has also announced the development of Moria, a modular software designed to manage and streamline crypto mining farms. The software will allow for command and interaction with popular mining devices such as whatsminers, antminers, and avalon miners. Tether’s development team is close to completing javascript libraries to support this functionality. The architecture of Moria may also be used for monitoring energy production in the future. The software will utilize holepunch technology to collect and analyze infrastructure data securely.

Hot Take:

Tether’s legal victory reflects the lack of merit in the claims against the company and solidifies its position as a leading stablecoin issuer. The announcement of Moria demonstrates Tether’s continued innovation in the crypto space and its commitment to supporting the Bitcoin ecosystem. Tether’s success and expansion into mining technology further solidify its role in the crypto markets and its potential to drive further growth in the industry.