I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
It's really good news if the owner of USDT is supposed to look at all the funds then I must say good news.Because then his project will be absolutely safe and strong.All funds secured by the owner of USDT will be transparent and reliable to the public.And people will be more reliable and they will trust USD more and popularity will increase. 
Topic: A good news or a bad news (Read 639 times)
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
Such USDT is really a big good news for the owner.If all his reserves are explored and he shows them willingly and if there is no deception in him, he will become stronger.People will have more confidence in him and he will gain more popularity.I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
I think this is good, will be trending and make many people do not hesitate to store assets in USDT, although stable coins, of course, many people think that the stable coins are safer, I also hope there is a currencies project other than USD so as to make cryptocurrencies users increase dramatically.
then I am sure investors, traders and all actors in the crypto world will be very happy and safe,
because USDT is able to provide an explanation of this important thing,
but remember if they avoid it then we have to get ready for something bad to happen, well hopefully not.
Investors will surely seek an explanation and if they wouldn't provide further explanation, it will only make them doubt about USDT. They must always make their investors feel secure to keep them or else they will lose their trust. They also have to make sure that certain changes won't affect the status of the coin negatively so they wouldn't back out. If the said coin would be handled and regulated by the authorities, they should assure that it will run continuously the same way.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
I think this is good, will be trending and make many people do not hesitate to store assets in USDT, although stable coins, of course, many people think that the stable coins are safer, I also hope there is a currencies project other than USD so as to make cryptocurrencies users increase dramatically.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
Such USDT is really a big good news for the owner.If all his reserves are explored and he shows them willingly and if there is no deception in him, he will become stronger.People will have more confidence in him and he will gain more popularity.This to make sure public will got accurate data and they can determine whether that's good to hodl tether or not. I hope tether wanna follow an order from the court
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
I think this is good news, this makes users stable coins more optimistic and do not hesitate to store or divert assets to stable coins, this is also an effective promotion so that more people use cryptocurrencies because they have been equated with fiat.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
I think this is good, will be trending and make many people do not hesitate to store assets in USDT, although stable coins, of course, many people think that the stable coins are safer, I also hope there is a currencies project other than USD so as to make cryptocurrencies users increase dramatically.
then I am sure investors, traders and all actors in the crypto world will be very happy and safe,
because USDT is able to provide an explanation of this important thing,
but remember if they avoid it then we have to get ready for something bad to happen, well hopefully not.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
I think this is good, will be trending and make many people do not hesitate to store assets in USDT, although stable coins, of course, many people think that the stable coins are safer, I also hope there is a currencies project other than USD so as to make cryptocurrencies users increase dramatically.
then I am sure investors, traders and all actors in the crypto world will be very happy and safe,
because USDT is able to provide an explanation of this important thing,
but remember if they avoid it then we have to get ready for something bad to happen, well hopefully not.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
Such USDT is really a big good news for the owner.If all his reserves are explored and he shows them willingly and if there is no deception in him, he will become stronger.People will have more confidence in him and he will gain more popularity. 
I see no problems in asking transparency from them. Actually, it shouldn't be even needed to be US regulators asking for proof, but any investors and adopters should have access to these informations and documents when demanded. If USDT is legit and has everything backed and under control, they have nothing to hide. Transparency is the root of crypto universe and this same concept should be adopted by every projects belonging to this environment.
As long as US regulators don't put certain pressures and difficulties, and make things a big problem, this is actually a natural thing to do. However, if later it turns out to be problematic, of course, there will be worries for us crypto users, especially USDT users.So far, rumors regarding USDT are often heard and there have been many people who have suggested the use of a stablecoin which is indeed more secure and decentralized. However, on the other hand, we are used to using USDT. So, what we will do? We can just watch and see the next decision, but we must also be careful on every probability by preparing the second choices.
I see no problems in asking transparency from them. Actually, it shouldn't be even needed to be US regulators asking for proof, but any investors and adopters should have access to these informations and documents when demanded. If USDT is legit and has everything backed and under control, they have nothing to hide. Transparency is the root of crypto universe and this same concept should be adopted by every projects belonging to this environment.
What happened to UST hurt a lot of people, so I hope what happened to UST won't happen to USDT. It is therefore very good news for
the crypto community to know that the government is starting to investigate USDT, it can prevent the manipulation that many investors fear.
Moreover, USDT is a stablecoin with far more users than UST, it can even be said that USDT is a popular crypto with a very high demand.
So if there is no transparency from USDT, it can indeed threaten investors in the future. In order to give investors a sense of security when
using USDT, indeed need transparency to prove that USDT is not problematic.
I see no problems in asking transparency from them. Actually, it shouldn't be even needed to be US regulators asking for proof, but any investors and adopters should have access to these informations and documents when demanded. If USDT is legit and has everything backed and under control, they have nothing to hide. Transparency is the root of crypto universe and this same concept should be adopted by every projects belonging to this environment.
Same here, I also don't think that it is a problem to ask for transparency, instead I looked at it as good news since authority intervene so that the well-known stable coins that has been evading transparency had been ordered to provide one. If USDT proves that they really have the reserve in a 1:1 ratio then the confidence level of the users of USDT will go up. It will also bring peace of mind to holders because they know that the stablecoin won't depeg no matter how hard it got dumped because there is a reserve to accommodate those dumps.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
Looks like we also need to know how far the Tether side is in developing their coin. If we look at the coinmarketcap list, the number of Tether continues to grow from time to time. If so, then Tether can buy up any amount of Bitcoin they want just by printing a new Tether. I think it's a positive idea if the US courts ask them to show the USD reserve amount. If they continue to print Tether, they will create inflation for other currencies. Actually we don't need Tether, we just need USD, and other local currencies.For example, in a country printing currency, say USD in the amount of 1 million dollars, then making a deposit in the crypto exchange as much as 100 thousand dollars, then the money circulating in that country is 900 thousand dollars. This will create a stable currency.
But the opposite is happening now. If the state minted a million dollar bill, and Tether minted a 1 million dollar coin. Then the US money supply in 1 year is 2 million dollar. So it is not in accordance with the country's foreign exchange reserves.
I see no problems in asking transparency from them. Actually, it shouldn't be even needed to be US regulators asking for proof, but any investors and adopters should have access to these informations and documents when demanded. If USDT is legit and has everything backed and under control, they have nothing to hide. Transparency is the root of crypto universe and this same concept should be adopted by every projects belonging to this environment.
it can be said that it is good news if it makes crypto positive value will be better, don't all crypto creators want recognition, maybe the initial usdt of all of this then goes to bitcoin and other alts,
Stable token being considered by government as serious assets that needs to be regulated. it's caused by stable token used fiat money to backed it and so regulation is needed to avoid potential for stable token to be manipulated. I think that's also the point why the government was giving order for stable token used to be transparent with its reserved funds.
Overall, this is good news, which will help us prevent manipulation or fraud in the first place. It can be seen that the collapse of the UST has cost thousands of investors and the government cannot let that continue, so the fact that USDT or other stablecoins are investigated by the government is good news for the market.
USDT is the largest stablecoin on the market but is often accused of not being transparent in the management and issuance of assets. Therefore, this is the information that the market has been waiting for a long time. If proven to be clean, USDT will be stronger and investors will feel more secure. If they make a mistake, they should handle it right from the beginning so as not to become the second UST.
If nothing makes USDT or Tether illegal I think they can provide valid shreds of evidence in the U.S court and I can also say that this is a piece of good news to say that USDT/Tether is clean when it comes to legality.
But if what they show they need becomes invalid in the U.S. court, it will be a big problem for sure. I just don't know if the bad news about the dollar is related.
Anyway, you should just chill and relax as far as I can see everything will be fine for usdt/Tether.
I would say that there is "some" illegal parts of it. Not because they are doing anything unethical or just scamming you, they could be legit and decent and still be found guilty, not for like a jailed type of crime, but for some SEC crimes which are related to finance and could be punished with just a fine, which could be millions of dollars but fine.But if what they show they need becomes invalid in the U.S. court, it will be a big problem for sure. I just don't know if the bad news about the dollar is related.
Anyway, you should just chill and relax as far as I can see everything will be fine for usdt/Tether.
They have billions, tens of billions of dollars from us and gave us something they created themselves out of nothing, that could always be troublesome in a court of law and that would be the case they are going against. Doesn't mean they have to be scammers, just that idea alone is a risky one.
it can be said that it is good news if it makes crypto positive value will be better, don't all crypto creators want recognition, maybe the initial usdt of all of this then goes to bitcoin and other alts,
Stable token being considered by government as serious assets that needs to be regulated. it's caused by stable token used fiat money to backed it and so regulation is needed to avoid potential for stable token to be manipulated. I think that's also the point why the government was giving order for stable token used to be transparent with its reserved funds.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
I think this is definitely good news. People will definitely know that USD is a safe stable coin and fully soulful.If they can prove that, their popularity will surely increase and their validity will be proven and people will become more attracted to them.It will be easier for the USDT owner and he will be able to move more openly. 
it can be said that it is good news if it makes crypto positive value will be better, don't all crypto creators want recognition, maybe the initial usdt of all of this then goes to bitcoin and other alts,
Stable token being considered by government as serious assets that needs to be regulated. it's caused by stable token used fiat money to backed it and so regulation is needed to avoid potential for stable token to be manipulated. I think that's also the point why the government was giving order for stable token used to be transparent with its reserved funds.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
For me, this could be good news, because if USDT reveals the truth and discloses the reserves backing its stable coin is proven to exist, then I think USDT will be stronger and will become good news, but if USDT is not able to reveal it then we must of course be prepared be prepared for the worst,
so don't miss out on this info about USDT.
USDT is a centralized cryptocurrency that has always been at the center of various criminal allegations. That's why I took the US court's claim as normal. Also, I agree that this is not good news, but I think it is not news that can affect the market. Yes, I'm not ignoring USDT's influence on the market, but even the Chinese government's crypto ban did not affect this market. If USDT suddenly disappears from the market overnight, the market will suffer a little, but since the products in the market cannot be bigger than the market itself, the market continues on its way.
Perhaps this will temporarily affect the price of the currency, but in general nothing will change.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
If nothing makes USDT or Tether illegal I think they can provide valid shreds of evidence in the U.S court and I can also say that this is a piece of good news to say that USDT/Tether is clean when it comes to legality.
But if what they show they need becomes invalid in the U.S. court, it will be a big problem for sure. I just don't know if the bad news about the dollar is related.
Anyway, you should just chill and relax as far as I can see everything will be fine for usdt/Tether.
I don't think this is particularly good news for the crypto world. From the start, Tether was a controversial project, with many critics claiming that it was not backed by sufficient funds to qualify as a real stablecoin.
I can imagine a lot of people buying Tethers thinking they were using an asset that is actually backed by the US dollar, but feeling otherwise after having their faith shaken by this court decision.
If Tether can't prove its legitimacy or if a court orders them to shut down, this could be bad news for the crypto market as there might be a lot of selling pressure from USDT holders.
I can imagine a lot of people buying Tethers thinking they were using an asset that is actually backed by the US dollar, but feeling otherwise after having their faith shaken by this court decision.
If Tether can't prove its legitimacy or if a court orders them to shut down, this could be bad news for the crypto market as there might be a lot of selling pressure from USDT holders.
Never trust fully in any stable coin, even if tether can prove that they are in fact backing their coins as they claim we do not know if this will always be the case, this is in fact one of the main reasons why this market exists at all as governments have abused the power of creating their own currency, decades ago they claimed their currencies were backed by a specific amount of gold only to break that promise over and over again, so any centralized entity can always go back on their word if it is on their best interest to do it.
Of course, it is not advisable to put all our assets in USDT even if it is proven to be safe. USDT is also a centralized asset like USD. But this news is good for our market, USDT transparency has been our concern for a long time. Everything needs to be controlled and resolved soon, don't let similar cases like UST happen, causing a series of investors to sink into loss and misery.
it can be said that it is good news if it makes crypto positive value will be better, don't all crypto creators want recognition, maybe the initial usdt of all of this then goes to bitcoin and other alts,
for me this is good news because we who often use USDT should know more about this project.
Well, at the beginning there have been debacle and issue where it has been involved. And you as a user, you should be aware of those things that they were involved off even that happened before.The main thing is how their reserves promise which is said to be 1:1 with fiat. If the government investigates this and it is proven of course it will be a plus for USDT which will be more trusted by the public.
It's been long overdue since that issue has popped. Until now, it's unclear to many if they really have a reserve for the supply that they have for Tether. legendary
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I have no problem using tether usdt in fact I like the stable coin more than a few others except BUSD, Tether is big enough right now and they have been investigated in the past, bringing this up now is just a new to create fear in this crypto space so nothing new here.
People were calling it as FUD. I think that if you can't call anything as FUD to create fear in the crypto. Sometimes the government needs to the stable token provider to be transparent to the regulators. i guess if all of things gone so well and there shall not need to feel worry about that. This is the fact. Audit is actually needed and regulators are only doing what they must to do. There's no intention to create fear if USDT was real legit. 
Of course, it is not advisable to put all our assets in USDT even if it is proven to be safe. USDT is also a centralized asset like USD. But this news is good for our market, USDT transparency has been our concern for a long time. Everything needs to be controlled and resolved soon, don't let similar cases like UST happen, causing a series of investors to sink into loss and misery.
It is already been discussed and most of the users here don't really recommend it simply because of its nature that it is centralized and you can lose all of your assets at once if something happens to its owner. But we are not removing its total use because these coins can help people a lot especially when there will be transaction congestions where you cannot convert your BTC to fiat and you can use this coin to convert temporarily so that you won't miss the ATH price.
This is a good news if Tether USDT can present a valid proof that backing there Digital USD so that crypto users will finally have peace of mind that they are not doing shady things but this is indeed a bad news if they can’t present anything to backed there USDT in the bank because USDT holder will be on panic mode that will result to depegging of the token same on what happened to Luna.
it would be great if they could show proof that USDT is really backed with valid assets, and that would also refute all kinds of negative news from USDT. it's just that, if they can't provide evidence, it can have a huge impact considering that USDT is one of the most volume assets today. this may affect the level of confidence in other stable coins. however, I expect good results from this. a good outcome of this is likely to make confidence in the crypto world increase. 
In my opinion, it's positive news for the crypto market if they show proof of reserve backing its stablecoin, thus Tether will gain the trust factor amongst all the stablecoins, and traders or investors will not be afraid to hold it. For the time being, I would say just wait for Tether dev to provide the proofs.
Never trust fully in any stable coin, even if tether can prove that they are in fact backing their coins as they claim we do not know if this will always be the case, this is in fact one of the main reasons why this market exists at all as governments have abused the power of creating their own currency, decades ago they claimed their currencies were backed by a specific amount of gold only to break that promise over and over again, so any centralized entity can always go back on their word if it is on their best interest to do it.Of course, it is not advisable to put all our assets in USDT even if it is proven to be safe. USDT is also a centralized asset like USD. But this news is good for our market, USDT transparency has been our concern for a long time. Everything needs to be controlled and resolved soon, don't let similar cases like UST happen, causing a series of investors to sink into loss and misery.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
I think this is good news, because there is some confusion about the background of USDT ie Tether. I think if they clear it to the public as ordered by the US Govt it will shed its shadyness and emerge stronger. On the other hand, if they don't present the right information, I think any restrictions on them will hurt the cryptocurrency a bit. I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
In my opinion this is good news because the coin stable has direct support from the USD, this will strengthen the USDT position so that it does not hesitate to store assets to the USDT. I hope that this will also happen to other coins.
In my opinion, it's positive news for the crypto market if they show proof of reserve backing its stablecoin, thus Tether will gain the trust factor amongst all the stablecoins, and traders or investors will not be afraid to hold it. For the time being, I would say just wait for Tether dev to provide the proofs.
Never trust fully in any stable coin, even if tether can prove that they are in fact backing their coins as they claim we do not know if this will always be the case, this is in fact one of the main reasons why this market exists at all as governments have abused the power of creating their own currency, decades ago they claimed their currencies were backed by a specific amount of gold only to break that promise over and over again, so any centralized entity can always go back on their word if it is on their best interest to do it. 
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
it all depends if they are truly up to their words and are backing up their stable coin or they were all lies and we're going to witness a big downfall for crypto, it might be the latter because I don't really believe that USDT is %100 backed by us dollars, I somehow can't trust them, that's why I don't hold USDT anymore.We know that if tether was not fully backed by fiat money but it was combined with various assets in the market. So, this may also become a boomerang for tether
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
This news have not circulates. And i believe that this information should be place on examination. Because if this information is vital many people would have dispense the information by now. And op, for you to make information authentic you have to include the the source of the information to make it more reliable to the listener and also the readers as well. The controversy over Tether, the company issuing the USDT stablecoin, is still ongoing, most recently the United States through a local court finally rejected the company's application to hide their money reserve records from the public.
Some time ago, Tether asked the New York City Court to prevent the public from requesting to examine documents related to the money reserves that backed the value of their stablecoins issued over the past few years. It started after the leading crypto media Coindesk asked the state to disclose the company's financial records
https://blockchainmedia.id/
The rumors about usdt reserve backing have been circulating for so long keeping people in doubt, it is better they clear the air so that investors will be confident enough and have the trust to store their assets with usdt.
It is very unhealthy for any investor to use usdt store the money when it is not transparent, see what happened with ust, even though the scenario is different but it still boils down to trust, many investors trust terra ust enough to store thousands and millions of dollars with it but at the end, things went really bad and people lose money.
Nobody wants a repetition of such a situation with usdt, it is better they own up and do as instructed by the court.
It is very unhealthy for any investor to use usdt store the money when it is not transparent, see what happened with ust, even though the scenario is different but it still boils down to trust, many investors trust terra ust enough to store thousands and millions of dollars with it but at the end, things went really bad and people lose money.
Nobody wants a repetition of such a situation with usdt, it is better they own up and do as instructed by the court.
So this is good news not bad news as people fear, if we are not doing anything wrong why should we be afraid, it seems like people are not sure about the USDT they are holding. The news about USDT has been around for a long time but it was never clear, I hope that after the UST collapse, governments can tighten the operation of stablecoins, this will be very beneficial to us, investors. We need a healthy market to invest in, not a market full of scammers.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
This news have not circulates. And i believe that this information should be place on examination. Because if this information is vital many people would have dispense the information by now. And op, for you to make information authentic you have to include the the source of the information to make it more reliable to the listener and also the readers as well. 
The rumors about usdt reserve backing have been circulating for so long keeping people in doubt, it is better they clear the air so that investors will be confident enough and have the trust to store their assets with usdt.
It is very unhealthy for any investor to use usdt store the money when it is not transparent, see what happened with ust, even though the scenario is different but it still boils down to trust, many investors trust terra ust enough to store thousands and millions of dollars with it but at the end, things went really bad and people lose money.
Nobody wants a repetition of such a situation with usdt, it is better they own up and do as instructed by the court.
It is very unhealthy for any investor to use usdt store the money when it is not transparent, see what happened with ust, even though the scenario is different but it still boils down to trust, many investors trust terra ust enough to store thousands and millions of dollars with it but at the end, things went really bad and people lose money.
Nobody wants a repetition of such a situation with usdt, it is better they own up and do as instructed by the court.
The comparison with UST is highly incorrect because USDT is a centralized stablecoin backed by dollars and securities. UST is an algorithmic stablcoin and has been backed by the dollar through a link to risky and volatile assets such as LUNA and BTC. Keeping money in algorithmic stablecoins is definitely not a good idea, as they are at maximum risk of de-peg.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
Any kind of negative news in a bearish market makes crypto more hindered. But all these positive or negative news is not new. It can be said that crypto runs through it. But what the OP mentions has no truth to it. Constantly releasing negative news on cryptocurrency is also a work of whales. Many in such news will sell their assets at low prices and whales will buy them at low prices as well. But such trap is nothing new. 
For those looking for sources:
- Judge Orders Tether to Produce Records Showing Backing of USDT
- Tether says new court order to produce USDT reserve backing is a 'routine discovery matter'
Or directly from the court order: https://storage.courtlistener.com/recap/gov.uscourts.nysd.524076/gov.uscourts.nysd.524076.247.0.pdf
You did well by aiding OP on that information of source material. Thanks, on my part too, because it helped me have a deeper look into the whole issue.- Judge Orders Tether to Produce Records Showing Backing of USDT
- Tether says new court order to produce USDT reserve backing is a 'routine discovery matter'
Or directly from the court order: https://storage.courtlistener.com/recap/gov.uscourts.nysd.524076/gov.uscourts.nysd.524076.247.0.pdf
OP, I don't think there's anything you should be worried about. Unless the trio founders of Tether don't have reasonable evidence of coin backing, I don't see much fundamentals happening to disrupt price. I want to see it as a routine check from regulators.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
Is it just an allegation or accusation that happened to the USDT owner, if it's true then we'll just have to wait for the next news to be true whether they have reserves of some USDT coins, at least to make it clear that this news is true, it won't happen if the bitcoin doesn't have it. value, and of course all cryptocurrency chains will die instantly..
The rumors about usdt reserve backing have been circulating for so long keeping people in doubt, it is better they clear the air so that investors will be confident enough and have the trust to store their assets with usdt.
It is very unhealthy for any investor to use usdt store the money when it is not transparent, see what happened with ust, even though the scenario is different but it still boils down to trust, many investors trust terra ust enough to store thousands and millions of dollars with it but at the end, things went really bad and people lose money.
Nobody wants a repetition of such a situation with usdt, it is better they own up and do as instructed by the court.
It is very unhealthy for any investor to use usdt store the money when it is not transparent, see what happened with ust, even though the scenario is different but it still boils down to trust, many investors trust terra ust enough to store thousands and millions of dollars with it but at the end, things went really bad and people lose money.
Nobody wants a repetition of such a situation with usdt, it is better they own up and do as instructed by the court.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
I however agree with the point raised by the court. Most people have always believed that crypto trading is not safe and things like this if not proven right might further affirm that notion by skeptical people about the crypto market and even though this has kinda been an ongoing thing with USDT tether, I hope this part can be cleared out for once and lets move on. 
I have no problem using tether usdt in fact I like the stable coin more than a few others except BUSD, Tether is big enough right now and they have been investigated in the past, bringing this up now is just a new to create fear in this crypto space so nothing new here.
Their reputation is very important and I know for sure that every investor needs some clarification and transparency and much more for the government. The issue is really a big deal and they have to tell the truth otherwise, they've got what it deserves for this project. I'm not going to say it creates fear in the market as it never affects the entire market for sure. Might say it was bad news for USDT investors and developers but for some reason, this will help to keep the market looking good and all of the stablecoins.
that is bad news for tether developers and good news for investors and the market. having to say that although usdt is the most popular and widely used in the market, people still want to know its true transparency and so far there is no clear answer. news about usdt is not so new, almost every year there are rumors about the transparency of usdt
i hope this time will be different, after the collapse of ust, we really need stronger measures to help the market become cleaner. today we have a lot of options with stable coins so the fact that usdt is being investigated is really good news to me
I have no problem using tether usdt in fact I like the stable coin more than a few others except BUSD, Tether is big enough right now and they have been investigated in the past, bringing this up now is just a new to create fear in this crypto space so nothing new here.
Their reputation is very important and I know for sure that every investor needs some clarification and transparency and much more for the government. The issue is really a big deal and they have to tell the truth otherwise, they've got what it deserves for this project. I'm not going to say it creates fear in the market as it never affects the entire market for sure. Might say it was bad news for USDT investors and developers but for some reason, this will help to keep the market looking good and all of the stablecoins.
~maybe they trust Tether or they just don't believed that the government has a case against them.
~They are ironically trusted or simply the majority of the people are ignorant. I believe the latter, their users didn't notice the government has a case is out of the option, IMO, it would be too much dumbfounded if there are USDT users who would believe so. The current order was from a 2019 lawsuit, and actually, if we look based on my first referenced Decrypt article, there is a case whereases Tether found guilty to misled the reserve they had to back the token. There ware multiple related cases, so it would be ironic if people still trusting them.
It's really hard to know, for me I'm aware of the court cases way before (I even tagged it as 2018, it supposed to be 2019). But in any case, I just used but i don't put like in the thousands of dollars, just a couple of hundred specially if I just wanted to hedge against bitcoin's volatility.
But in any case, users should be aware of the court cases and if they are willing to take the risk then it's up to you. The court battle might be long though, so do your own diligence.
Indeed, it is hard to find relevance to the fact it has an ongoing case and proven have lying to its customer, yet USDT is still being used. It seemed like it may be kind of like a self-fulfilling prophecy whereas some people just use it for a short term or just putting a small amount of funds. IIRC, USDT's high availability across many exchanges and networks also plays its part to make the token widely used. I don't know exactly the current condition, but it seems many stable tokens are catching up to be broadly available on many ecosystems.
With that in mind, cryptocurrency userbase would have many options to choose a widely available range of stable tokens.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
Well i am also not sure what i should think about this. First of all i think it totally makes sense that the company behind USDT shows what those reserves are that they are talking about that are backing their USDT. As far as i know they changed the wording regarding the backing of USDT a few years ago from "We have enough money to back every USDT minted" to "We have enough reserves to back every USDT minted", but no one really knows in what form those reserves exist or if they exist at all.
If they don't have enough reserves and this becomes public then we will have a huge dump of the whole market. Way harder then the one we had when Terra blew up. I hope everything will be fine.
For those looking for sources:
- Judge Orders Tether to Produce Records Showing Backing of USDT
- Tether says new court order to produce USDT reserve backing is a 'routine discovery matter'
Or directly from the court order: https://storage.courtlistener.com/recap/gov.uscourts.nysd.524076/gov.uscourts.nysd.524076.247.0.pdf
They are ironically trusted or simply the majority of the people are ignorant. I believe the latter, their users didn't notice the government has a case is out of the option, IMO, it would be too much dumbfounded if there are USDT users who would believe so. The current order was from a 2019 lawsuit, and actually, if we look based on my first referenced Decrypt article, there is a case whereases Tether found guilty to misled the reserve they had to back the token. There ware multiple related cases, so it would be ironic if people still trusting them.
- Judge Orders Tether to Produce Records Showing Backing of USDT
- Tether says new court order to produce USDT reserve backing is a 'routine discovery matter'
Or directly from the court order: https://storage.courtlistener.com/recap/gov.uscourts.nysd.524076/gov.uscourts.nysd.524076.247.0.pdf
~maybe they trust Tether or they just don't believed that the government has a case against them.
They are ironically trusted or simply the majority of the people are ignorant. I believe the latter, their users didn't notice the government has a case is out of the option, IMO, it would be too much dumbfounded if there are USDT users who would believe so. The current order was from a 2019 lawsuit, and actually, if we look based on my first referenced Decrypt article, there is a case whereases Tether found guilty to misled the reserve they had to back the token. There ware multiple related cases, so it would be ironic if people still trusting them.
It's really hard to know, for me I'm aware of the court cases way before (I even tagged it as 2018, it supposed to be 2019). But in any case, I just used but i don't put like in the thousands of dollars, just a couple of hundred specially if I just wanted to hedge against bitcoin's volatility.
But in any case, users should be aware of the court cases and if they are willing to take the risk then it's up to you. The court battle might be long though, so do your own diligence.
I heard this is just a routine, no cause for an alarm, also I think I like the idea, USDT have been audited by fairyproof and certik so clearing this rumour of USDT can't be trusted can make USDT be more trusted by crypto users, to me its more of good news than bad.
Certik did a USDT audit in 2019 with a Code Audit HistoryFundamental protection and assessment. so no more doubts about USDT. Total Supplay 70,155,449,908.75 USDT with Circulating Supply
67,954,703,168.02 USDT. The USDT pair has even become the main stablecoin pair used by traders because it is considered more secure. no crypto collapse, this would be a good start as more people get to know crypto and come in to invest.
Source: https://www.certik.com/projects/tether
I greatly agree, there are lots of projects that are reviewed by Certik but end up being a scam through rug pull, failed due to exploiting and hacks. In short, there are lots of projects that pass Certik's code review but end up getting hacked or exploited.
Having the Government involved in assuring the masses that USDT has actually the amount stated as reserved for their Tether is really a good move and reassuring at least. Even though we don't know the real reason behind the intention of the US court, at least we will benefit from it and that is a good news.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
It all depends on the real situation. If USDT does not have any problems and they are ready to confirm their reserves, it will increase the attractiveness of USDT in the eyes of investors and regulators. If the project can not confirm the reserves and it turns out that a large number of coins are not secured by anything or secured by some debt obligations, there will be an outflow of funds from USDT. Such a development would have a positive impact on USDT's direct competitor, USDC, because it could soon replace USDT in the table of stablcoins.
It can be a goods news or bad news to you depending on your current situation, There might be a small price drop but I believe it can be sustained knowing that USDT is a largely traded pair. If they got audited and they are proven to be giving false declaration, The situation will be changed.
There are a lot of rumors and accusations on tether before that the coins they are minting are not backed 1:1 and I believed that there are some who stopped using tether because of that issues. It's a serious issue that can make USDT depegged.
There are a lot of rumors and accusations on tether before that the coins they are minting are not backed 1:1 and I believed that there are some who stopped using tether because of that issues. It's a serious issue that can make USDT depegged.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
You should provide links so that people can follow on what you're trying to disseminate. I think this wasn't the first of it's kind news for tether to ever encounter for such issues, so it's not that surprising if they get such notice. Disclosing doesn't necessarily means it's bad but it's how you put the situation though, that's for you to decide. 
You probably heard of it newly and that's why it freaks you out. This has been an issue long ago and that's why it's no surprise if that's what they're asking from the Tether developers which is also connected to Bitfinex.
No need to be freaking out of it and let them handle their own compliance to what the court order has been issued to them.
We'll just wait on how they're going to respond on it.
That's right, don't get too carried away by panic, it will cost us a lot. This is actually a good thing, as it will show the transparency of Tether itself. Don't we want that, that we all want to see things transparently? From there we can assess further about this Tether.No need to be freaking out of it and let them handle their own compliance to what the court order has been issued to them.
We'll just wait on how they're going to respond on it.
News like this should not let us be controlled by fear.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
It depends, if Tether has in fact backed their coins in a one to one relationship then they have nothing to fear and in fact it could benefit them because for a very long time people have speculated this is not the case and this could help them to satisfy those which have asked for an auditory for a long time, however if it can be demonstrated they had cheated the trust of all of those which have bought their coins then this could create a very negative environment for Tether and in the worst case scenario we may see an inevitable crash on that coin. 
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
That's good news or should I say positive news.
If Tether will just comply with anything legally, they will gain the trust of the community.
For now, let's see what will happened and what actions will Tether will do at this point.
You probably heard of it newly and that's why it freaks you out. This has been an issue long ago and that's why it's no surprise if that's what they're asking from the Tether developers which is also connected to Bitfinex.
No need to be freaking out of it and let them handle their own compliance to what the court order has been issued to them.
We'll just wait on how they're going to respond on it.
No need to be freaking out of it and let them handle their own compliance to what the court order has been issued to them.
We'll just wait on how they're going to respond on it.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
There's a lot of issues before with USDT, this might not be a good news because USDT will be in trouble again for paying huge fees if the court sees another irregularities on their platform. This can be good though if USDT will fully comply to be better on their service, this can benefit a lot and ensure many that USDT has a good amount of reserve that can compensate everyone if something bad happen with the platform. Don't panic though, let's just wait if they will cooperate or not.
Transparency is always a piece of good news, especially if it involves one of the biggest stablecoins in the cryptocurrency industry. I believe the action of the US court is just since the USDT is claiming that their stablecoins is backed 1:1 by US dollar. So the tether owner must show the audit or proof that they have the reserved amount equal to the tether in circulation.
Yeah, the penalty is well deserved considering they announced that it was backed by dollar reserve 1:1 and finding out that the amount of dollars they held at that time isn't equal to the total supply of USDT. That is fraud. So I think this time, USDT must prove in US court that the recent audit that certifies that they actually have the amount is true.
Previously tether was fined by CFTC, and this is a continuation of the previous lawsuit, I don't see this bad news. But this is good news, isn't it this news will open the eyes of big investors, so they will buy bitcoin to secure their crypto assets? to be honest I'm not an investor to buy usdt and hold in the long term, I also don't trust stablecoins. Their problems with the government if not resolved then other stablecoins can also be a stepping stone for their investors, I just remind the case of the price crash on Luna can happen in any stablecoin. If they can't prove it, you definitely know what to do.
Yeah, the penalty is well deserved considering they announced that it was backed by dollar reserve 1:1 and finding out that the amount of dollars they held at that time isn't equal to the total supply of USDT. That is fraud. So I think this time, USDT must prove in US court that the recent audit that certifies that they actually have the amount is true.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
Why is it not a good news to you as a consumer? If anything this should be positive as it finally lets us a sneak peek into where Tether is actually pegging its total supply in the market. Imagine if the most used stablecoin doesn't have any assets backing it up, then where does it get its value? For all we know, the guys at Tether are already swimming in pools of money while all of us here are clueless as to the true nature of USDT's valuation. Audits like this should happen more frequently on stablecoins as to assess their capacity to be used as one, else they essentially just created money out of thin air and that's extremely bad for the economy (and they're not a banking entity sooo...)
I heard this is just a routine, no cause for an alarm, also I think I like the idea, USDT have been audited by fairyproof and certik so clearing this rumour of USDT can't be trusted can make USDT be more trusted by crypto users, to me its more of good news than bad.
Certik did a USDT audit in 2019 with a Code Audit HistoryFundamental protection and assessment. so no more doubts about USDT. Total Supplay 70,155,449,908.75 USDT with Circulating Supply
67,954,703,168.02 USDT. The USDT pair has even become the main stablecoin pair used by traders because it is considered more secure. no crypto collapse, this would be a good start as more people get to know crypto and come in to invest.
Source: https://www.certik.com/projects/tether
This might affect the said coin for a short period but it doesn't mean that it will be a reason enough for it to crash down. If it will make the situation of a coin better in the long run, then this issue shouldn't bother you. It's something that we shouldn't panic about because it usually happens to different coins. The government only wants fairness for the benefit of both parties, especially the investors.
I don't see it causing panic or affecting the coin to drop because it will be a good thing if the owner of tether do a disclosure as required by the US government. Investors want confidence in their hodling to be sure of it. The effect can only come if they refuse the obligation then they could have the same scene as that happened to Luna.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
Of course Tether should have as much USD reserve as current circulating USDT supply. And it must be provided by the USDT owner.Associated with a US court questioning the reserve of USD in favor of stable coins to Tether owners will not affect the amount of Tether in circulation or make the price of Tether no longer equal to 1 USD.
Of course the question will arise is what if Tether will involve the government in their big project?
As is the current information that Ripple also won in court. And I'm sure Tether is more capable than that.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
The reality I have found out about crypto currency is that there are no good or bad news influence on the market; it is how investors digest each and every news that makes it clear if it is good or bad. In light of the US court notice, this happens yearly; just as the fud by China too. They all happen quarterly to make the market panic hehe.
Don't get freaked out, understand your targets and goals in crypto currency, continue to follow your rules, make adjustments when necessary; the bear phase too well pass
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
There is nothing to worry if the project owner shows the reserves for the tokens they are printing but I guess they are already over the limit and if it exposed publicly then it will be a danger Alarm for all the stable projects not entirely the cryptocurrency, yes people may lose their money if the value drops to zero but for the community it is actually good to know whether they are printing equal to their reserves or not. 
I see it as a good news to disclose the reserve backing their stablecoin, many users are in the dark in regards to usdt reserve backing and such could lead to catastrophic damage to many users.
@op i don't get why you see this information as the great cryppto collaps! would you rather they continue keeping users in the dark regarding the actual state of usdt? The largest stablecoin in crypto should not have issue being transparent.
@op i don't get why you see this information as the great cryppto collaps! would you rather they continue keeping users in the dark regarding the actual state of usdt? The largest stablecoin in crypto should not have issue being transparent.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
It's a temporary bad news because it may affect the market negatively but not for long haul. It's an ongoing concern since a long time for Tether. They have never audited their reserve and never disclosed their holdings as a reserve even though they claim they maintain a 1:1 reserve ratio.
So I think it is positive in the long haul because it will make it very clearer which onen is credible coin to use going forward.
True on one side but have you considered the other side of the coin? It’s terrifying. If they are not able to provide enough proof of stable coin backing then everyone will know its just fake drama behind the curtains and the USDT economy will fail in a night!
However, considering the calculations and the volume that’s being traded is enormous for USDT. It’s happening because peeps are actually buying it and this much volume can not be created out of thin air for sure.
Plus, owners must show up the actual backings, it may bring more and more investment in the future if it’s true.
However, considering the calculations and the volume that’s being traded is enormous for USDT. It’s happening because peeps are actually buying it and this much volume can not be created out of thin air for sure.
Plus, owners must show up the actual backings, it may bring more and more investment in the future if it’s true.
For those looking for sources:
- Judge Orders Tether to Produce Records Showing Backing of USDT
- Tether says new court order to produce USDT reserve backing is a 'routine discovery matter'
Or directly from the court order: https://storage.courtlistener.com/recap/gov.uscourts.nysd.524076/gov.uscourts.nysd.524076.247.0.pdf
They are ironically trusted or simply the majority of the people are ignorant. I believe the latter, their users didn't notice the government has a case is out of the option, IMO, it would be too much dumbfounded if there are USDT users who would believe so. The current order was from a 2019 lawsuit, and actually, if we look based on my first referenced Decrypt article, there is a case whereases Tether found guilty to misled the reserve they had to back the token. There ware multiple related cases, so it would be ironic if people still trusting them.
- Judge Orders Tether to Produce Records Showing Backing of USDT
- Tether says new court order to produce USDT reserve backing is a 'routine discovery matter'
Or directly from the court order: https://storage.courtlistener.com/recap/gov.uscourts.nysd.524076/gov.uscourts.nysd.524076.247.0.pdf
~maybe they trust Tether or they just don't believed that the government has a case against them.
They are ironically trusted or simply the majority of the people are ignorant. I believe the latter, their users didn't notice the government has a case is out of the option, IMO, it would be too much dumbfounded if there are USDT users who would believe so. The current order was from a 2019 lawsuit, and actually, if we look based on my first referenced Decrypt article, there is a case whereases Tether found guilty to misled the reserve they had to back the token. There ware multiple related cases, so it would be ironic if people still trusting them.
I heard this is just a routine, no cause for an alarm, also I think I like the idea, USDT have been audited by fairyproof and certik so clearing this rumour of USDT can't be trusted can make USDT be more trusted by crypto users, to me its more of good news than bad.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
All I can say is that Tether has been in this position already, and if I'm not mistaken, it was already 2018 wherein they have a court case and they yet continue to exists in the market. I'm not saying that they are running on fractional reserves, because that what everyone is suspecting. However, they have been in the market for a long time and so far there are no threat of collapse or something. And investors are still using them, despite so many competitors already, maybe they trust Tether or they just don't believed that the government has a case against them.
This is a good news if Tether USDT can present a valid proof that backing there Digital USD so that crypto users will finally have peace of mind that they are not doing shady things but this is indeed a bad news if they can’t present anything to backed there USDT in the bank because USDT holder will be on panic mode that will result to depegging of the token same on what happened to Luna.
I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
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