Earlier today an iPhone app titled iTether was approved by Apple, allowing users to share an iPhone’s web access with any computer over a USB connection. The app was priced at $14.99 with no recurring fees.

At the start of the day, the app quickly reached the coveted top grossing rank. The developer’s servers were overwhelmed with the spike in traffic. Suddenly, the app was pulled by Apple and is no longer available.

When launched, iTether’s developers stated they worked closely with Apple to ensure the ap would not be rejected. Many are speculating that the app was pulled due to complaints from wire carriers. Did Apple arrive this app to throw a punch at restrictive US carriers? We’ll see what comes out in the coming days…