Tether will push crypto & blockchain education in Switzerland

USDT issuer company seeks to push crypto education programs in Switzerland’s southern city of Lugano.

Tether is a subsidiary of the  Bitfinex crypto exchange. Tether is a backend company behind the highest market-cap stablecoin USDT. In recent weeks, after the collapse of Terra’ Stablecoin UST and Luna, USDT grabbed huge attention as a risky element in the crypto industry. 

On 19 May, A collaborative announcement came from Tether and Lugano. Both of these two will launch “Plan ₿ Summer School”, which aimed to push education in crypto & blockchain among early age students. 

This program will run from 3 July to 16 July and the interested students of Lugano will be required to fill out the form in advance. 

The main appearance of Blockstream CEO Adam Back and Tether and Bitfinex chief technical officer PaoloArduinoo will take place in the crypto educational session, where these crypto proponents will give speeches.

Paolo Ardoino, chief technical officer of Bitfinex, shared his thoughts on this crypto educational program and noted that they will introduce crypto as a unique technology instead of an investment asset. 

Bitfinex CTO said:

“As adoption continues to drive participation in the cryptocurrency ecosystem, it is essential that educational institutions are put into place to help better inform not only traders and investors but future business owners looking to implement these financial tools into their everyday lives.”

Tether Commercial paper and criticism

Recently many haters of Tether raised questions about the commercial paper holdings by the  Tether company and noted that USDT users are in a very risky situation. 

In response, on 19 May, Tether published its report and noted that the company currently holds $82,424,821,101, and also the company is continuously reducing commercial paper at a rate of 17% quarter by quarter.

Read also: Digital assets will be divided into 2 categories, says CFTC chairman