Digifinex has decided to replace Tether by TrueUSD

[Kargai]

Digifinex is probably not the most well-known exchange out there but it's not a little one neither, he's in the Top 15 to 20. And Tether (USDT) is the stablecoin n°1 in the world : a stablecoin is designed to maintain a steady exchange rate with the U.S. dollar (Tether is in the Top 10 by volume on coinmarketcap), explaining why the coin always stay around 1$.

So if it's a "coin" that people use often for trading why an exchange would want to get rid of it ? For a simple reason : the founder don't like it, he don't believe in it.

We can probably add to that the fact that there is some doubt about the fact that Tether actually own as much "real" money than what people own in the related crypto + the new competitors in the stablecoin market (TrueUSD, Havven, Maker ...). Exchanges could even create their own stablecoin for example.

Digifinex choose TrueUSD to replace Tether. Starting next monday TrueUSD will be available and Tether will be delisted after a short period of time to let users transfer their funds from one to the other.

Source : https://www.coindesk.com/a-top-20-crypto-exchange-is-replacing-tether-with-a-rival-stablecoin/

So if you are on Digifinex don't forget to move your USDT before it disappear

 

[wry]

The backing for Tether has always been very suspect.  There's that new Gemini Dollar as well.  While I doubt Tether will go away, I think it will increasingly be a Bitfinex coin rather than the broadly accepted coin for the USD.