Topic: Will Tether go into crisis like XRP? (Read 574 times)
This article alerts. It’s the first time I run against information that Tether has some problems. Hope, New York AG’s office will briefly analyze all that 2.5 million pages of material that Bitfinex and Tether had produced and totally clarify Tether.
The situation with the USDT project is very, very difficult. Perhaps there are very big people behind this project who know how to negotiate how to resolve the problems that arise from the state. This is a muddy project.
its petrifying if tether will be attacked by SEC by the time there is a bear market and we all have saved our money on USDT. i heard the smart contract of ERC20 USDT can be frozen and that's the scariest of all nightmares. its like they can destroy the lives of crypto users, more than half od the traders i believe is using tether.
DAI is an option but the price can fluctuate really hard though. BUSD still is a centralized stablecoin controlled by binance.
The price of XRP will be very bad if the SEC issue is not resolved, I hope other coins like USDT have no problems with the SEC.
its petrifying if tether will be attacked by SEC by the time there is a bear market and we all have saved our money on USDT. i heard the smart contract of ERC20 USDT can be frozen and that's the scariest of all nightmares. its like they can destroy the lives of crypto users, more than half od the traders i believe is using tether.
I did not think about the possibility of SEC lawsuit during a bear market, it is going to burn many if that happens as many hold their profit in USDT and there need to be another option to hold the coins for everyone, i am holding the coins in Euro as i am expecting some sort of lawsuit against USDT in the near future and when that happens you never know how bad it gets. 
its petrifying if tether will be attacked by SEC by the time there is a bear market and we all have saved our money on USDT. i heard the smart contract of ERC20 USDT can be frozen and that's the scariest of all nightmares. its like they can destroy the lives of crypto users, more than half od the traders i believe is using tether.
DAI is an option but the price can fluctuate really hard though. BUSD still is a centralized stablecoin controlled by binance.
It's not just XRP that is having problems linking the reason the SEC reporting on a source doesn't verify over data. Tether also goes into issues to interact with the dispute with Bitfinex. File center is checked, is this fine for the future?
https://cointelegraph.com/news/tether-and-bitfinex-seek-further-30-days-to-produce-critical-trial-documents/amp
Am.not seeing tether coin go into real trouble like what the ripple project did because they are more little bit balance compared to ripple. I don't see tether getting into the trouble with the SEC as this won't yield anything good result for the cryptocurrency industry. Am always septically that tether coin seem good but not for long-term https://cointelegraph.com/news/tether-and-bitfinex-seek-further-30-days-to-produce-critical-trial-documents/amp
The crypto market is beyond demolition. Ripple was charged with security issues and still yet, ripple failed to drop off a bit from top 4 in the market. even if Usdt will have any issue, i seriously doubt if anythin will happen to it's cap and also i do not think the value will be affected by and law suit just like ripple, Gone are the days when lawsuit demolished a project.
It's not just XRP that is having problems linking the reason the SEC reporting on a source doesn't verify over data. Tether also goes into issues to interact with the dispute with Bitfinex. File center is checked, is this fine for the future?
https://cointelegraph.com/news/tether-and-bitfinex-seek-further-30-days-to-produce-critical-trial-documents/amp
XRP wasn't a stablecoin anyway. Also, we should consider a fact that Ripple as company has more important stuff to worry about such as partnerships with banks.https://cointelegraph.com/news/tether-and-bitfinex-seek-further-30-days-to-produce-critical-trial-documents/amp
Situation is much different with Tether though
Tether is not that different from that logic, sure it is stablecoin which makes it a bit different, but they printed out 20+ billion dollars worth of USDT and the only thing they said is "we got you covered" in case anyone wants to get out, but since the market covers it themselves whenever someone wants to sell, and whenever there is too much sell and price "looks" like it is dropping, arbitrage people handled it, so Tether rarely ever gets cashed out and usdt rarely turns into usd. Which is why as a company they should have been looked at a lot earlier.
not because tether is widely used, and also the first stabilkoin in crypto then trading volume tether no.1 in crypto.
There's no reason Tether will have a crisis like XRP
It has also been rumored that tether is not backed up by anything then the issue disappeared and until now tether is still there and in use.
There's no reason Tether will have a crisis like XRP
It has also been rumored that tether is not backed up by anything then the issue disappeared and until now tether is still there and in use.
A few days earlier, Deputy Bahamian bank Deltec Bank said that Tether's stablecoin is fully backed by reserves. “Every tether is backed by a reserve and their reserve is more than what is in circulation,” Gregory Pepin, Deltec Bank deputy CEO: https://finance.yahoo.com/news/tether-bank-deltec-says-stablecoin-141533131.html
I hope they are saying the absolute truth about their assets here. When they admitted in 2019 not to be fully backed, I started not to trust Tether. So for tether holders, stay vigilant with this market. Sometimes you will be surprised what will happen to the market by sudden announcement from authorities. Right now, they are enjoying their position in the market, but one wrong move and authorities will be coming after them.
not because tether is widely used, and also the first stabilkoin in crypto then trading volume tether no.1 in crypto.
There's no reason Tether will have a crisis like XRP
It has also been rumored that tether is not backed up by anything then the issue disappeared and until now tether is still there and in use.
There's no reason Tether will have a crisis like XRP
It has also been rumored that tether is not backed up by anything then the issue disappeared and until now tether is still there and in use.
A few days earlier, Deputy Bahamian bank Deltec Bank said that Tether's stablecoin is fully backed by reserves. “Every tether is backed by a reserve and their reserve is more than what is in circulation,” Gregory Pepin, Deltec Bank deputy CEO: https://finance.yahoo.com/news/tether-bank-deltec-says-stablecoin-141533131.html Of course, in addition to the words, Gregory Pepin also had to provide supporting documents.
It is hard to know since tethers have so many shady activities since it was created. However, I guess people creating Tether understand their responsibility to protect tethers as well as protect investors/cryptocurrency users because it has become a well-known asset. XRP faces the most depressing event ever and up to now, it is still alive
Tether and XRP is a bit different, that is the trouble. XRP is a coin that could go up and down in price, if there is a problem that means price could fall and eat up all that trouble. However Tether is always 1 dollars, that is their trouble, 1 usdt should always be 1 usd, and if that fails, the whole system fails. That rarely ever goes away, sure sometimes it becomes like 97 cents at the bare lowest for a very very quick time but people buy that very quickly and sell back to 1 dollars, whatever the difference was they pocket the change.
However if one day Tether gets into trouble and fail to pay it? That means we are going to see 1 USDT not worth 1 USD anymore and suddenly the whole system will crumble. This is why it is a lot more important, people do not "invest" into tether, that doesn't go up or down, that is why it is there, the moment it is no longer like that, it will end very quickly.
However if one day Tether gets into trouble and fail to pay it? That means we are going to see 1 USDT not worth 1 USD anymore and suddenly the whole system will crumble. This is why it is a lot more important, people do not "invest" into tether, that doesn't go up or down, that is why it is there, the moment it is no longer like that, it will end very quickly.
I think the Ripple story may be just another act... Everything turned out too negatively, just at the moment when airdrop happened and Ripple grew quite well... As if they dropped the price on purpose...
This SEC issue I think did not affect XRP much, the coin still got a decent volume on KuCoin right now if you see here: https://trade.kucoin.com/XRP-BTC and I doubt its value will go down in a landslide either, maybe as long as Ripple is fighting with SEC XRP's future won't be decided yet with this current issue.
I kinda like how exchanges like KuCoin and binance are still supporting XRP despite all these stumps, I think they know better than us who are only trading the coin. They put trust on the coin as if they don't know what will happen if things go down with SEC yknow, as long as these exchanges are still with XRP, I won't be selling my bags yet.
I kinda like how exchanges like KuCoin and binance are still supporting XRP despite all these stumps, I think they know better than us who are only trading the coin. They put trust on the coin as if they don't know what will happen if things go down with SEC yknow, as long as these exchanges are still with XRP, I won't be selling my bags yet.
Because both Kucoin and Binance are outside the jurisdiction of US SEC that’s why they are not accepting US citizens to use and trade the exchange. Once SEC win against Ripple, Ripple itself will be the one to delist there token on all exchange since it will be illegal to trade Security token on exchange that is not compliant to SEC guidelines. I doubt that ripple will win against without paying the fines.
You should think logically.
This SEC issue I think did not affect XRP much, the coin still got a decent volume on KuCoin right now if you see here: https://trade.kucoin.com/XRP-BTC and I doubt its value will go down in a landslide either, maybe as long as Ripple is fighting with SEC XRP's future won't be decided yet with this current issue.
I kinda like how exchanges like KuCoin and binance are still supporting XRP despite all these stumps, I think they know better than us who are only trading the coin. They put trust on the coin as if they don't know what will happen if things go down with SEC yknow, as long as these exchanges are still with XRP, I won't be selling my bags yet.
I kinda like how exchanges like KuCoin and binance are still supporting XRP despite all these stumps, I think they know better than us who are only trading the coin. They put trust on the coin as if they don't know what will happen if things go down with SEC yknow, as long as these exchanges are still with XRP, I won't be selling my bags yet.
Tether now under investigation by 7 states and at least 4 counties, crisis way bigger as Ripples issues with its XRP sales
It's not just XRP that is having problems linking the reason the SEC reporting on a source doesn't verify over data. Tether also goes into issues to interact with the dispute with Bitfinex. File center is checked, is this fine for the future?
https://cointelegraph.com/news/tether-and-bitfinex-seek-further-30-days-to-produce-critical-trial-documents/amp
XRP wasn't a stablecoin anyway. Also, we should consider a fact that Ripple as company has more important stuff to worry about such as partnerships with banks.https://cointelegraph.com/news/tether-and-bitfinex-seek-further-30-days-to-produce-critical-trial-documents/amp
Situation is much different with Tether though
Apply the loss of confidence seen for XRP legal issues to Tether. The USDT printer then stops going brrrrr. BTC has liquidity crisis, no one can call sell and Bitcoin drops to below 10K, maybe even below 1K. The only reason BTC is so high is because of Tether pumping.
It's not just XRP that is having problems linking the reason the SEC reporting on a source doesn't verify over data. Tether also goes into issues to interact with the dispute with Bitfinex. File center is checked, is this fine for the future?
https://cointelegraph.com/news/tether-and-bitfinex-seek-further-30-days-to-produce-critical-trial-documents/amp
With the speed of USDT minting from Tether company and with the huge supply of Tether USD on the market, the risk for USDT and the company are higher than Ripple. There are many accusations, lawsuits on Tether in the past and will have more in the future. The more improvements on law regulations aim at crypto market, the more risks of shutdown, seize, drama Tether will have.https://cointelegraph.com/news/tether-and-bitfinex-seek-further-30-days-to-produce-critical-trial-documents/amp
It is a very old story that warns us the fact behind stable coins: They can be frozen by governments.
[UPDATED] PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets
Thether is a little different from the Ripple, so I don`t think it will go the same way. But nonetheless, there are many variants and Tether can go into crisis, because of the some doubts regarding the legality of the project. It will be a really big hit to the whole sphere, so I hope this won`t happen
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