Topic: Tether (USDT) - page 2. (Read 8596 times)

Tether announced that their new bank is Deltec, a bank based in Bahamas:


https://coincodex.com/article/2567/tether-announces-bahamas-based-deltec-as-its-new-bank/

It's not so high but still noticeable since I think that 5% change of bitcoin price is not so much but still it worth because we saw it near to $6k which was not good until now which is $6.6k
Tether USDT and the TUSD are very good coins that people can switch easily to "fiat" into crypto and into the other side which I think has made people a good opportunity by making it much easier.

Today morning BTC experienced a huge pump, probably from the reduced confidence in Tether which also resulted in a discrepancy of BTC prices between exchanges that support fiat currency and exchanges that use stablecoins as a substitute.

https://coincodex.com/article/2486/reduced-confidence-in-usdt-results-in-chaotic-price-action/

Finally it has proved stable coin is not so stable forever, traded recently under 90c so Tether (USDT) always having risk!

Looks like Tether got some competition. First DAI and now Terra:

https://coincodex.com/article/2296/terra-stablecoin-project-raises-32-million-from-binance-labs-okex-huobi-and-others/

Tether Adds $50 Mln More in Tokens Despite Losing $300 Mln in Market Capital



Tether, the controversial stable coin that has been pegged to the price of the US dollar, has released a new batch of tokens worth $50 mln. This follows on from March where they released $300 mln tokens priced at $1 each.

However, despite being a stable coin tied to an asset like the dollar, Tether has lost over $300 mln in the past 30 days as its market capitalization has gone from $2.7 bln to $2.4 bln.

Controversial coin

Tether has had a rocky road since its inception as, being based on the US dollar, the understanding is for every coin that is issued, the company must hold in its reserves equal value in US dollars.

The issue is, despite its controversy, and the fact that there has not been any sort of strong and independent audit on their claims, Tether has become a pivotal source of liquidity for the crypto markets.

Tether is now in second place after Bitcoin in terms of highest daily trading volumes, seeing $4.2 bln in trades a day or 28.58 percent of all crypto trades, while Bitcoin’s average 24-hour trading volume is $5.7 bln or 39.22 percent.

But the allegations are that exchanges have been issuing more tokens than there are US dollars in the bank which could lead to a massive collapse seeing as these Tether tokens are being used to buy other cryptocurrencies which are being turned into fiat.

Requiring an audit

One of the reasons that the coin has lost value in terms of its market cap has to do with the coverage in the media that Tether was receiving. Tether said it couldn't get enough of media reporting because of suspicious and controversial nature.

However, after being accused of "lack of transparency" by the public, a law firm said in an unofficial statement in June that USDT is backed with legitimate US dollars.

https://cryptocomes.com/tether-adds-50-mln-more-in-tokens-despite-losing-300-mln-in-market-capital

All Nexo (www.nexo.io) clients can withdraw instant crypto-backed USD loans using Tether (USDT).

More details here - https://medium.com/nexo/accounts-on-the-waiting-list-87dc772830ea

New Trading Pairs Are Available on KuCoin

OCN/KCS, OCN/USDT, DRGN/KCS, CS/KCS trading pairs on KuCoin!

https://news.kucoin.com/en/new-trading-pairs-are-available-on-kucoin/

New Trading Pairs ACT/USDT, HSR/USDT, TKY/USDT Are Available on KuCoin

https://news.kucoin.com/en/new-trading-pairs-act-usdt-hsr-usdt-tky-usdt-are-available-on-kucoin/

As far as I know, the tether cryptocurrency is created solely for the preservation of capital, due to a stable exchange rate. And it is essentially not traded. However, its capitalization is moving up. Many users find the translation of dollars into tokens Tether risky. One of the reasons is that it is still unclear why the Americans blocked the company's funds and how the situation was resolved in the end. I personally do not really trust this coin

I wouldn't waste my time with tether. Havven is the better option and they're completely decentralized/trustless. Also not pegged to fiat or gold.

Because the dollar has been fluctuating.
Therefore, the price of USDT will also follow USD.

because of demand.... How can something be static if  demand is too high/low, they allways have to regulate it with how many tokens there are on stock... and as you can sse they are adding arround 100000000 dollars per week or two weeks... dunno, what's of this? Does bitfinex making even more money with that?

130 million Tether has just been printed - first emission after March 22nd, so after a monthly break: www.omniexplorer.info/address/1NTMakcgVwQpMdGxRQnFKyb3G1FAJysSfz

I am very surprised to see this project, but I have nothing to say here. I just do not understand where they get so much money and no one just checks them. How is this possible?

here is another person who also expressed that the project is very risky, well, then, why we need it, of course possible, it is best not to use that project because the risk percentage is very, very large.

Saw not very nice news that Tether may face some problems with provisions. It seems very risky coin to me.

And how do you know how much money they have today? After all, no one knows this, just like we are with you, no one knows except them, so I think this project is a scam.

Tether is a tool used to make trading simpler as it is holding it's value. However, a constant increase of total crypto market value is pushing it's price up very hard and in order to keep the price constant they have to increase the number of tokens which is in turn driving it's price down.

It is very hard to keep the value of something at any time, not to say at the times of high volatility. They claim to have an USD in reserve for every Tether to keep the solvency. But for how long?

I am not saying that Tether is not a valid tool / project (we are not able to check it though) but from the economical point of view it is hardly tenable.

Because when the number of people who buy USDT is increasing, then the number of USDT is certain, the USDT will not be sufficient, and there will be a premium at this time.