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USDTUSD

TETHER is becoming increasingly more unstable.Tether is the biggest Ponzi scheme in the history of crypto and is becoming increasingly more unstable every day. USDT is subject to many factors, such as the rising and falling value of the dollar and the constant increase of Tether into Infinium to manipulate the price of other cryptocurrencies that are solely reliant upon USDT for purchase. I do believe that we will see a day in the very near future when Tether (USDT) will collapse and lose the vast majority of its value overnight, much like the TerraUSD/LUNA collapse, except it will be orders of magnitude more extreme as Tether has a market cap that TerraUSD could only dream of, even in its heyday. If you hold large amounts of TETHER on any blockchain, you're taking massive, unseen risk.
COINBASE:USDTUSD
by MetaShackle
Keep an eye on USDT/USD pair I have been checking USDT/USD pair since last weeks, and already had some thoughts that something is coming, before the news came out about Huobi. Honestly, I was expecting that something will happen to Binance, but... Currently, Important price level on USDT is 0.9898$ Breaking below, may lead the price lower. Ofcourse this will affect negative on Crypto Market. FTX crash dropped USDT to 0.97$ I believe that it will be another negative move to scare people.
COINBASE:USDTUSD
by vazitrades
2
USDT Tether 82.45% of the reserves held in U.S. Treasury bonds !SIVB SVB Financial Group suffered the most severe bank run since Lehman Brothers for selling bonds at a $1.8Bil loss just to raise cash! They had one of the worst possible yields as well: 1.79. USDT Tether said on Dec 2nd, 2022, that its equity is expanding swiftly, with "82.45% of the reserves held in U.S. Treasury bonds and other cash equivalents." What yield do you think Tether has? I think we are about to witness USDT Tether`s collapse.
COINBASE:USDTUSDShort
by TopgOptions
Stablecoins Depeg: Twist of Events, Banking CrisisHi Traders, Investors and Speculators of the Charts 📈📉 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. In a twist of events, an incident that happened within the banking realm created chaos for the crypto realm. I bet you didn't have that on your bingo cards for 2023... In the past few weeks, there have been two significant bank failures in the United States that have sent shockwaves throughout the financial world. The collapse of Silicon Valley Bank and Silvergate Bank has sparked concerns about the stability of the banking system and the future of the crypto industry. The failure of these banks highlights the fragility of the financial system and the challenges faced by institutions that operate in high-risk sectors like tech and crypto. Silicon Valley Bank (SVB) was closed by the FDIC on March 9 due to its heavy losses caused by the downturn in technology stocks and the U.S. Federal Reserve's aggressive plan to increase interest rates. The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the US Congress in 1933 to maintain stability and public confidence in the nation's financial system. The FDIC provides deposit insurance that guarantees the safety of deposits in member banks, up to a certain limit. In the event that a member bank fails, the FDIC will step in to insure deposits, provide assistance to depositors, and liquidate the failed bank's assets. The FDIC also regulates and supervises member banks, as well as conducts research and analysis on the banking industry. Silicon Valley Bank bought bonds using customers' deposits, but the value of those investments fell as interest rates rose. This is usually not a problem for banks, but Silicon Valley Bank's customers were largely startups that needed cash. Venture capital funding was drying up, and companies were tapping their existing funds deposited with Silicon Valley Bank, which was at the center of the tech startup universe. In response to this liquidity crisis, SVB sold a $21bn bond portfolio at a loss of $1.8 billion . The bank attempted to fill the solvency hole with a combined equity offering of $2.25bn on March 8, but the attempt failed. This is the largest failure of a financial institution in the United States since Washington Mutual collapsed more than a decade ago. The closure of SVB had an immediate effect on some startups that had ties to the bank, as they scrambled to pay their workers and feared having to pause projects or lay off employees until they could access their funds. SVB, the 16th largest bank in the US, had assets of $209 billion, with more than 50% of its investments tied up in long-term securities, including exposure to the Silicon Valley tech and health startup world. The bank's sudden collapse has raised questions about its risk management practices, and the impact of its closure on its clients, who are largely startups and wealthy tech workers. The bank's large uninsured deposits and exposure to high-risk sectors like tech and crypto contributed to its downfall. But SVB isn't the only one... Silvergate Bank, which has been a significant player in the crypto world, has announced that it is closing and returning deposits. The bank's holding company, Silvergate Capital Corporation, stated that the decision was made "in light of recent industry and regulatory developments." The closure follows the loss of one billion dollars in a quarter after customers withdrew $8.1 billion, and a subsequent filing in March revealing even worse financials. The closure of Silvergate Bank is concerning for the crypto industry, as it may lead to companies turning to less regulated institutions for their banking needs, potentially making the space even riskier. Coinbase, Crypto.com, and Paxos have already started moving away from the bank. The collapse of the bank will likely draw scrutiny from lawmakers who are concerned about the crypto contagion affecting the traditional financial sector. The Silvergate Exchange Network, which allowed crypto exchanges like Coinbase, Gemini, and Kraken to move money between themselves and other institutions, has also been shut down. The bank's financial struggles have been ongoing for some time, with some of its high-profile clients like FTX and Genesis also experiencing challenges. Silvergate's collapse raises concerns about the future of the crypto industry, as companies may turn to less regulated institutions for their banking needs, potentially making the space even riskier for everyone involved. The bank's failure is also likely to draw scrutiny from lawmakers concerned about the potential contagion of the crypto industry on the traditional financial sector. Late Friday night Coinbase, a popular cryptocurrency exchange, announced that it would suspend conversions for the USDC stablecoin. This led to a rush of people trying to sell their USDC holdings, causing it to depeg from its value of $1 and trade as low as $0.87 before recovering to $0.92. Another stablecoin, Dai, also depegged and experienced a high volume of trading. Stablecoins are important in the cryptocurrency market as they provide a way for traders to move funds between different exchanges or cryptocurrencies without having to convert back to fiat currency. They are also used as a store of value by some cryptocurrency investors who prefer a more stable asset compared to the volatility of Bitcoin or other cryptocurrencies. If stablecoins depeg permanently, it could lead to a loss of confidence in their stability and reliability. This could potentially cause a sell-off of stablecoins and a shift towards other assets perceived as more stable, such as traditional fiat currencies. But before we panic too hard and FUD out, it's important to note that the impact of this crisis on cryptocurrencies such as alts and Bitcoin would depend on the severity and duration of the stablecoin depegging event, as well as other market factors such as investor sentiment and regulatory actions. In the past, there have been instances of stablecoins temporarily depegging from their underlying assets without significant impact on the broader cryptocurrency market. One notable example of a stablecoin depegging in the past is the case of Tether (USDT) in 2018. Tether is a stablecoin that is pegged to the value of the US dollar, with each USDT token representing one US dollar. In October 2018, Tether's price dropped below the $1 peg on several cryptocurrency exchanges, leading to concerns about the stability of the stablecoin. The depegging was attributed to a variety of factors, including regulatory pressures, concerns about Tether's reserves, and a general market downturn. The depegging led to a sell-off of Tether and a shift towards other stablecoins such as USD Coin (USDC) and TrueUSD (TUSD), which saw increased demand as traders and investors sought more reliable alternatives. Despite the depegging of Tether, the broader cryptocurrency market did not experience a significant impact, with Bitcoin and other cryptocurrencies largely unaffected. However, the incident highlighted the potential risks and uncertainties associated with stablecoins and their reliance on centralized institutions to maintain their pegs. In terms of price action for the immediate term, the Tether (USDT) depegging event in 2018 did have some impact on the cryptocurrency market prices, although the impact was relatively limited and short-lived. Following the depegging of USDT, there was a brief sell-off of Tether and a shift towards other stablecoins such as USD Coin (USDC) and TrueUSD (TUSD). This led to increased demand for these stablecoins, which helped to maintain their pegs to the US dollar. However, the broader cryptocurrency market, including Bitcoin, was largely unaffected by the Tether depegging. While there was some initial volatility and uncertainty, the market quickly stabilized and resumed its upward trend. 💭The collapse of Silicon Valley Bank is the second-largest bank default in U.S. history and puts the golden trifecta rule of banking (liquidity, solvency, and profitability) into review. This failure reminds us of the unintended consequences of unorthodox monetary policies, pandemic remediation measures, excessive leverage, and democracy eroding rulings. SVB had significant exposure to long-term securities and the Silicon Valley tech and health startup world. The bank's uninsured deposits pose a problem but insured deposits will be available as soon as Monday. The collapse of Silicon Valley Bank and Silvergate Bank underscores the need for stricter regulatory frameworks and tighter risk management practices in the financial industry. The failures also highlight the importance of diversification and risk mitigation strategies for banks and their clients. As the financial industry continues to evolve, it is essential that institutions keep pace with the changes and adapt their practices to ensure their stability and resilience in the face of future challenges. _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We thank you for your support ! CryptoCheck
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by CryptoCheck-
28
USDT Casino Collapse is imminent here's my proof --Be Warned-- Right I just got some time to get around looking into Tether after recent events, and I have to say I have never seen such an uneducated community get fooled by a "Merkle Tree" proof of reserves? ---Problem one--- The Binance CEO states a Merkle Tree is the best way to prove user funds, why does this not work? There is ZERO way's to check if multiple users are allocated the same USDT (Tether) on their trading accounts or balances. People hold balances on exchanges for insane APY returns that is another story but I have done some research and hardly anyone is using Tethers "Redeem" feature that you have to be VERIFIED to even use this removes anyone outside the know to have access to this system, ON top of that Minimum fiat withdrawal or deposit 100,000 USD* How can you expect people to possibly call the bluff on Tether if their limits are that high? WHY is their limits that high to redeem USDT for a USD currency equivalent balance? How many Stock Apps have limits like this for real USD on app stores? Not many. ---Problem two--- If USERS cannot withdraw small amount of USDT for USD that can be sent to an FDIC insured bank account in America you're all most likely holding a USDT that is valued less than 0.05c on the dollar. Merkle Tree reserves are completely pointless as you would need to go through millions of accounts, I expect binance would flood this data with 20 million random generated accounts with asset allocation, this means you would have to go through each and every single one of these to confirm with the USER that their assets are allocated to that account. And if you did this I'm sure you would have multiple accounts claiming to own the same USDT balance. ---Problem Three--- I have spent 5 hours today contacting representatives of major exchanges including Binance, ByBit, Phemex, Bitfinex, all of them are over exposed or completely exposed to keeping funds in USDT even though some of their contracts state USD that is misleading its not a base USD currency. In the real world we use FDIC banks with our trading brokers that settle and use USD balances as the USD is actually allocated and real. ---Problem Four--- Everybody / expert trying to short this crypto market in the final stage is about to lose everything, including your famous influencers you're going to see their wealth disappear faster than the Dot Com bubble CEOs, reason? everyone trading on these platforms are settled in USDT that if a collapse occurs you cannot redeem them. the few exchanges that have US bank accounts tied to their platform will let you redeem them sure, but you can short Bitcoin or Ethereum to -95% levels you could make 100 Million dollars but what's the value of your profits when USDT goes with it and you can only redeem it like a failed UST? ---Problem Five--- How can I explain why this is going on and what's the motivation behind it?, lets use a Casino for the example as many people know Casinos. This Casino - ONLY operates Texas Hold EM Poker tables and major tournaments. (Which is a perfectly fair game) This Casino - ONLY allows you to play with their CHIPS that needs to be converted from a USD deposit. (Which is a perfectly fair system, handled by each individual state Casinos are regulated and finances checked to prevent them circulating more CHIPS than USD deposits, states fine them when this happens similar to underage people allowed to gamble hence the incentive makes it pointless to even try as a Casino when you're already winning) This Casino - Is regulated and checked by many US based Auditors and the US Government, including using real US Bank accounts. ---Final Problem--- I want you to imagine This Casino, running trillions of dollars in poker tournaments attracting people all around the world globally they pay influencers for sign up rewards they create the entire system from scratch, this Casino now has inside players with UNLIMITED CHIPS allocated betting against real people taking users deposits and user assets. Imagine playing at a poker tournament yes the non Casino insider could win and take a prize but what about the other 97% of players? that's right you have lost everything. You're playing against market makers that see all your stops all your trades and have unlimited USDT to wick your money causing people to lose everything, all the excess Marketcap and profits they gain while actually converting the USD and spending it on real world assets, the only way for them to actually steal your original USD holdings is to make you lose their USDT they allocated you and multiple people at the same time. As dire as this sounds its ingenious. ---Final Warning--- Now Imagine this poker table has 10 million players who bought into the tournament for on average 10,000 USD each and got CHIPS (USDT) to play on the tables. Now Imagine the situation we are currently in where people figure out the Merkle Tree is pointless and majority of user funds will evaporate the moment people try to find ways to redeem REAL USD, Its over. This entire Phone app wallets, hardware wallets Ethereum USDT balance chain is irrelevant they have convinced you all to hold their CHIPS on every UNREGULATED point of access possible so you wonder why the SEC does not do anything with power? they don't have to this will blow up.
CRYPTOCAP:USDTShort
by UnknownUnicorn7947829
6
Tether - The ominous precedent and another scapegoat?The recent market volatility and unprecedented movements in the cryptocurrency market brought along the critical question of stablecoin safety. Just within a matter of a few days, the whole cryptocurrency market was shaken up by the downfall of a stablecoin named Luna, which lost 99% of its value; this sets the ominous precedent for what might occur in the Tether (owned by Bitfinex). Already back in July 2021, Jannet Yellen, the U.S. treasury secretary, summoned Jerome Powell and the head of the Securities and Exchange Commission to discuss Tether and the danger it poses. Then in October 2021, the Commodity Futures Trading Commission (CFTC) filed and settled legal cases against iFinex Inc., BFXNA Inc., and BFXWW Inc. The actual text (only excerpts) from the CFTC website 1st excerpt “The Tether order finds that since its launch in 2014, Tether has represented that the tether token is a stablecoin with its value pegged to fiat currency and 100% backed by corresponding fiat assets, including U.S. dollars and euros. However, the Tether order finds that from at least June 1, 2016 to February 25, 2019, Tether misrepresented to customers and the market that Tether maintained sufficient U.S. dollar reserves to back every USDT in circulation with the “equivalent amount of corresponding fiat currency” held by Tether and “safely deposited” in Tether’s bank accounts. “ 2nd excerpt In fact Tether reserves were not “fully-backed” the majority of the time. The order further finds that Tether failed to disclose that it included unsecured receivables and non-fiat assets in its reserves, and that Tether falsely represented that it would undergo routine, professional audits to demonstrate that it maintained “100% reserves at all times” even though Tether reserves were not audited. 3rd excerpt “Tether held sufficient fiat reserves in its accounts to back USDT tether tokens in circulation for only 27.6% of the days in a 26-month sample time period from 2016 through 2018. “ Illustration 1.01 The recent disconnect in the peg between the USD and Tether is shown above. It can be observed that the panic lasted only little bit over two hours. However, slope of the decline is reminiscent of one in Luna. Illustration 1.02 The weekly chart of the crypto total market cap shows a substantial decline since the beginning of the downtrend in November 2021. The orange line shows BTCUSD, a positive correlation between market-cap and BTCUSD. Bitcoin has the highest dominance in the cryptocurrency market; therefore, it has the most significant impact on the crypto total market cap's movement. A strong positive correlation can also be observed between Bitcoin and the tech industry; the light blue line in the lower graph shows Nasdaq 100 CFD. Illustration 1.03 The picture above shows the massive drop in Luna stablecoin. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This idea is not intended to encourage any buying or selling of any particular securities; it is merely an opinion. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BINANCEUS:USDTUSD
by Tradersweekly
24
USDTUSD points out BTCUSDT price directionhi there, fellows. we've noticed a very peculiar relationship between USDTUSD and BTCUSDT pairs. since late june USDTUSD prices have served as gauge to short term future moves of BTCUSDT. notwithstanding, we're at the longest divergence between the two within this period. that hints us to expect a near term up move on BTCUSDT to the mid of the channel, at around 23k, 23k5 within this week. it's absence might mean that this relation have been broken. we're not considering BTCUSDT driving USDTUSD for as it was BTCUSDT who moved to catch up with USDTUSD curve. another argument is the enormous daily volume that USDT has, far superior to the one of BTC. thank you.
Long
by greenfield_br
Tether - A word of caution over Tether stablecoin safetyIn our previous posts, we warned about de-pegging of the Tether stablecoin from the U.S. dollar. The precedent was set when Luna stablecoin fell 99%, spilling to other tokens and temporarily breaking the peg between the USDT and USD. With the recent crash in the cryptocurrency market, we remain very pessimistic about its outlook. Illustration 1.01 The picture above shows the precedent that took place on 12th May 2022. The Tether token can be seen losing almost 6% of its value against the U.S. dollar. Already back in July 2021, Jannet Yellen, the U.S. treasury secretary, summoned Jerome Powell and the head of the Securities and Exchange Commission to discuss Tether and the danger it poses. Then in October 2021, the Commodity Futures Trading Commission (CFTC) filed and settled legal cases against iFinex Inc. , BFXNA Inc. , and BFXWW Inc. The actual text (only excerpts) from the CFTC website 1st excerpt “The Tether order finds that since its launch in 2014, Tether has represented that the tether token is a stablecoin with its value pegged to fiat currency and 100% backed by corresponding fiat assets, including U.S. dollars and euros. However, the Tether order finds that from at least June 1, 2016 to February 25, 2019, Tether misrepresented to customers and the market that Tether maintained sufficient U.S. dollar reserves to back every USDT in circulation with the “equivalent amount of corresponding fiat currency” held by Tether and “safely deposited” in Tether’s bank accounts. “ 2nd excerpt In fact Tether reserves were not “fully-backed” the majority of the time. The order further finds that Tether failed to disclose that it included unsecured receivables and non-fiat assets in its reserves, and that Tether falsely represented that it would undergo routine, professional audits to demonstrate that it maintained “100% reserves at all times” even though Tether reserves were not audited. 3rd excerpt “Tether held sufficient fiat reserves in its accounts to back USDT tether tokens in circulation for only 27.6% of the days in a 26-month sample time period from 2016 through 2018. “ We raise a word of caution as to the question of stablecoin safety - in this particular case of Tether . Illustration 1.02 The picture shows another anomaly in the price of Tether, but this one started to occur yesterday. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
COINBASE:USDTUSDShort
by Tradersweekly
17
USDt dominance down - BTC pump?The triangle stock pattern is a versatile chart pattern that is viewed as a continuation pattern and a reversal pattern at the same time. Looks the triangle broke and that trend line as well. When USDT dominance is going down to the support line, Bitcoin prices going higher and vice versa. USDT Dominance is showing a strong convergence signs on 2h or 4h time frame. We will have to see how it settles over the next couple of days to figure out where it is going from here.
CRYPTOCAP:USDT.D
by BitFace
USDT case - Do we trust this stable coin?USDT has been The stable coin in which everybody has put their trust and confidence to maintain part of their crypto assets is a stable coin. Well, USDT has fallen by around 3%. From 1 USD for every USDT to 0.97 USD for every USDT. As we can see in the chart, such an important variation hasn´t taken place since October 2018, date in which USDT/USD had a variation of around 8% in 5 days. The cryptocurrency currency created by the exchange Bitfinex is raising more and more doubts. It has recovered from every hit that has had. However, a lot of investors questions its viability. The Copilot
KRAKEN:USDTUSD
by CopilotThe
Tether (USDT): Oversold and finding supportAnalyzing the Tether Price from Kracken, where according to cryptocompare , 90% of the volume derives from. The stable coin everyone's talking about that dropped 15% against USD. Will it tether back to $1? Tether is finding support at the early 2018 levels of $0.94. It is currently 4.6% away from it's $1 value. Daily TD Sequential is on a 9, hinting a reversal is due, with RSI deeply ovesold at 18-month record low of 7.5. 2% stop loss is set below the daily low of $0.9428. If it falls below it's daily low, it's in big trouble.
KRAKEN:USDTUSDLong
by dragononcrypto
BTCSHORTS Got Hammered!USDT FUD??? Crypto community's believe that Tether does not have a real amount of $ backing USDT, about which BitFinex, Tether’s partner exchange, is already aware. And while USDT is one of the highest volumed cryptocurrencies, the exchange couldn’t handle the capital flight towards Bitcoin, resulting in a huge drop but BTC pump. This seems have started with kucoin exchange As per a tweet on KuCoin’s official Twitter handle, the firm has announced that it will be temporarily suspending all USDT transactions across its platform. While there appears to be no major reason for this sudden halt, it seems as though this move is part of a larger wallet maintenance regime that KuCoin adheres to regularly. What do you all think? When will the price level off between USDT traded or affiliated exchanges to NON USDT related exchanges? The irregular movement is mainly between exchange prices as we know the shorts can move like this anyway but i wanted to mark when and where it occurred for referance
BITFINEX:BTCUSDSHORTS
by 2Legit
2
BTCUSD, USDTUSD. Any relationship? Some interesting developments on Tether. Tether is such a dumb subject. So many conspiracy theories and everyone is an expert. Literally no one here knows what is going on behind the scenes. Nefarious or not, there does seem to be some relationship between BTC price and the USDTUSD ratio. However there is not too much history to go on and examining history is statistical anyway. So this is just for interest purposes. Firstly high volatility periods in BTC seem to correspond with high volatility in USDTUSD (no surprise there). Second BTC consolidation zones (red squares) seem to match zones where the USDTUSD ratio is significantly greater than 1 (i.e. USDT > USD). Lastly bottoms/pumps (green circles) seem to match zones where the USDTUSD ratio is significantly less than 1 (i.e. USDT < USD). USDT is down now about 3% under the dollar. Significant, but it has been lower than 10% on a couple of occasions in 2017, during the BTC bull run.
BITFINEX:BTCUSD
by RealMcafee
18
BULL RUN FROM - USDT - PART 1 => 236% PROFIT/2017Hello Followers, There is a very interesting fact going on that could be an indicator of a Bull Run. If history is about to repeat itself, market could be close to a big move up. Last time this move happened later on there was a huge profit of 236%. Incredible. This is part 1, I will post later Part 2. Very significant correlation between USDT/USD and BTC/USD. We are posting it here because big drops on USDT started. Check next chart. Always good to give information to my followers. Thank you for Trusting and Following. Follow Us on website and social media, and don't miss any update.
KRAKEN:USDTUSDLong
by EDWARDCASHTRADER
13
The Tether Argument - USDTBTCHi everyone. I wanted to have a discussion (or at least express my personal views) about USDT/Tether here, looking at the pros and cons of having USDT in the cryptomarket. In terms of TA, the chart itself has just the Fib lines only. I selected two points on the chart and both are inverse as the value of USDT is being measured against BTC here. If the second point from mid-July is taken into account, then USDT is touching the 0.236 fib line. It can very well go to 0.382 or 0.5 value, which will correspond to BTCs prices in September-October 2017. The value of USDT was declining until 2018, and then it started to rise back up slowly. This is expected as USDT is pegged against USD. But then there is a catch - it is not EXACTLY FIXED with USD, as it is a digital currency. The value of USDT has fallen to 93 cents many times in the past (and at times even lower), and also the value has been higher than USD at $1.01 many times, and even higher at certain points on some exchanges. This makes things interesting. The pros: - Digital format - not controlled (YET) by any government. - Easily transferred between exchanges. - Can be used on most major exchanges. - Low volatility, meaning better reliability and security that the value of the digital currency doesn't actually decrease much during transit, which can happen when market is very volatile. This is one of the biggest advantages of USDT. - During the times when BTC and the whole market is crashing, USDT value starts to go up slightly. This is fine as people sell their coins and buy USDT (especially on exchanges where that is the only option). During such times the buying power of any USDT hodler actually increases. Example: BTC drops in price from $7000 to $6700. USDT value goes up from $1 to $1.01. Anyone who sold BTC at the peak for 7000 USDT, now has 7007 USDT and can buy BTC at $6700 value but now the value of USDT has risen by around 1% (sometimes even more). - If someone wants to buy another cryptocurrency listed at another exchange which has USDT, money can be moved between exchanges during a 'crash' period and the user can buy that cryptocurrency - USDT will still at least hold its current value or may even go higher. Please note that this is NOT guaranteed to work every time. - Listed and used by lots of exchanges. The cons: - NO AUDIT and lack of transparency. - Pegged to USD - The US government can technically shut it down at any time! They have the right! - Controversy surrounding cryptomarket price manipulation. - If USDT/Tether is ordered to shut down, the whole market will see a huge impact on prices. This WILL probably induce a major bear market lasting for months or years, not just days or weeks. I am not against USDT and also do not condone it. If Tether can sort the issues/problems they are facing, then it is NOT a bad thing to have in the crypto space. Other coins such as Houbi's token, Binance Coin, True USD, are basically the same with a different name. To me, BNB looks even more suspicious. And now we have CoinBene and other exchanges popping up with a different model but same ideology behind them. Now that USDT is so much incorporated into the cryptomarket, I truly hope USDT/Tether gets rid of all the controversies and gets a proper audit soon. If they are shut down, then it will be very very very bad for the cryptospace. Once again, these are my personal thoughts, so please try to be nice and have a healthy discussion rather than a war :)
by UnknownUnicorn995432
2