Tether now costs 96 cents on the exchanges. I still can't find a way to sell it for USD in 1-1 rate.
It looks more and more like a scam.
Better to just sell it off than regretting in the long run not selling it for those 96 cents eventually because that is what will happen when the whole wall of Tether starts coming down. I would advise you either use what you have to invest in some potential coins at the moment and have nothing to do with tether anymore. There are other more reliable and trustworthy stable coins pegged to USD popping up and they have good bank backing with proper audit, not like some shit stable coin like tether and you really want to be channeling your attention on those new ones instead.
The USDT news really scared me, but I think it's fast recovered. The total value of USDT is 3 billion and I think it's a very small figure for the market.
I really do not see it affecting the market as a whole as I believe this is something that would just affect the holders of tether themselves as a lot of people will end up getting to feel the effect of losing if they are still in tether. Although, it is still pretty much early to judge the effect it would have on the market overall, but I really would not be counting on anything at the moment. In the long run, I believe tether will go down the drain with better stable coins taking over as we have even started seeing exchanges making use of direct fiat at the moment. It is just a matter of time before we started seeing the end of Tether.
