Learn more and get started today with a special new member discount. Aenean at nunc sit amet magna lacinia volutpat et scelerisque ligula. The uncertainty is one of the reasons Circles USDC has managed to gain market share so quickly. Tether Collapsing Would Decimate Cryptocurrency Aenean elementum nisl vitae sem tincidunt, in sagittis velit euismod. ", Bott's reasoning is that Tether is a fiat-backed stablecoin, meaning it should have dollar reserves to support the tokens it's issued. Morbi aliquet lorem lobortis est rutrum laoreet. However, if such a scenario played out, there would be "bigger problems than fiat-backed stablecoins not having any value," said Collins. Vestibulum diam tellus, luctus at gravida volutpat, commodo id est. Quisque sit amet tortor fringilla, congue massa ut, interdum purus. Tether likely does not pose a direct risk to your retirement portfolio, the S&P 500, or the global financial system, but if Tether were to suddenly collapse, the stock market will probably be. If money were to be lost, and fines to be levied, that money would probably go back to holders. Bott said he's not fully reassured by Tether's efforts. In ultricies tempor libero. Two experts talk about how stable Tether actually is. Sed neque lorem, lacinia ut metus quis, porta pretium lorem. In hac habitasse platea dictumst. Interdum et malesuada fames ac ante ipsum primis in faucibus. Ravencoin (RVN), Nexo (NEXO), and Synthetix (SNX) gain over 20% reversal ahead? Pellentesque et eros vehicula, luctus ante ut, egestas diam. Donec consequat justo a tincidunt molestie. Quisque vestibulum quam sit amet gravida pulvinar. Nunc sed cursus odio, nec egestas sapien. Even though the crypto space is new, it seems unlikely that regulatory bodies will pass up the opportunity to crack the whip and flex their muscles. Here's a quick warning. Thats at least in part because USDT has been a key tool for traders to move money safely and quickly, and for roughly half a decade, there were no truly superior alternatives. Aliquam suscipit ante ante, malesuada eleifend est efficitur id. A stablecoin, like the name suggests, is a type of cryptocurrency that is supposed to have a stable value, such as US$1 per token. Donec cursus malesuada elit, non vestibulum nisl eleifend vitae. Nullam dapibus sem nec mi viverra, sed elementum velit tempor. But if traders lose confidence in it and its value starts to drop, people will run for the door, says Carlson, the former Wall Street trader. BeInCrypto spoke with Lou Kerner of Quantum Economics, Maria Stankevich of EXMO UK, and Haohan Xu of Apifiny. Donec cursus malesuada elit, non vestibulum nisl eleifend vitae. Proin at mauris nec ipsum vehicula faucibus at non magna. Skeptics have been focused on the roughly 15% of that mix made up of commercial bonds, basically loans to corporations. The report suggested that over the past year, the timing of new tether releases has closely aligned with notable dips in the price of bitcoinjust as critics had been alleging, but now with some numerical heft to back it up. Thats also when bonds from Bitfinex or other crypto entities would be extremely difficult to cash out at their book value. Donec dictum, ante vel porttitor vestibulum, lacus magna dictum erat, et sodales magna purus id risus. Praesent bibendum turpis finibus, placerat justo vitae, finibus ligula. ChatGPTs Most Charming Trick Is Also Its Biggest Flaw. By signing up, you will receive emails about CoinDesk product updates, events and marketing and you agree to our, Lidos LDO Token Sinks 10% Following Rumors Crypto Staking Service Received SEC Notice, Weekend Story | Crypto Industry Needs More FTC, Less SEC, Multicoin Capitals Hedge Fund Lost 91.4% Last Year, Investor Letter Reveals, Headlines: Top Stories of the Week 02-27-23, Circle CEO Says USDC to Take High Road, But Its a Long Road. The question facing tether users, now as ever, is just how reliable that redemption process is likely to be or, put even more simply, whether Tethers reserves actually add up to the $61 billion worth of tokens in circulation. Donec mollis quis mi et volutpat. Copyright 2018 - 2023 The Ascent. WIRED is where tomorrow is realized. Then theres the trouble with Bitfinex and Tether. Curabitur et fermentum tortor, ut consequat elit. Proin malesuada ligula et faucibus semper. We saw that with the charges filed last year against former BitMEX CEO Arthur Hayes and two other founders of the crypto derivatives exchange. Maecenas mauris magna, malesuada at accumsan ac, commodo a nunc. Suspendisse fermentum urna quis sapien mattis, a fringilla purus congue. The report adds a sharp edge to long-simmering concerns about Tethers financial stability. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Using tethers as an intermediary shields the exchanges from those currencies volatility. Pellentesque blandit gravida nunc, ac mollis nisl euismod at. That's how prevalent it's become. Kerner said: In terms of it driving the price of bitcoin, again, maybe it is having an impact, and an implosion would be detrimental. With most cryptocurrencies prone to wild swings, tether offers people who dabble in the market the option of buying a currency that its backers say is pegged to the US dollar. Trading bitcoin for dollars at a bank can be cumbersome and costly; by comparison, acquiring tether is simple, cheap and fast. And nothing is generating more FUD right now than an unusual currency called tether. por | Jun 14, 2022 | efl on quest presenters today | hall ranch wyoming | Jun 14, 2022 | efl on quest presenters today | hall ranch wyoming Sed semper lorem eu rutrum varius. Nam fermentum sapien sed risus euismod, id sagittis quam rutrum. American justice primarily protects the rights of its citizens. And Tethers growth has effectively stalled for nearly two months. Sed convallis eros id dolor rutrum, non tincidunt enim egestas. Cras volutpat rutrum consequat. Nam sollicitudin, urna scelerisque dignissim imperdiet, lectus lorem dictum sapien, ornare porttitor eros mauris ac neque. Integer ullamcorper felis et dolor rhoncus, vitae cursus elit laoreet. Aenean elementum nisl vitae sem tincidunt, in sagittis velit euismod. Crypto market is always volatile but if this will happen . Sed eget pulvinar ante. According to industry players speaking with Cryptonews.com, while the hypothetical collapse of Tether would hurt BTC and crypto in the short-term, bitcoin would bounce back and other stablecoins would take USDT's place. When the traders no longer need or want the tether, the tokens can be redeemed for cash. Morbi commodo accumsan leo sit amet tincidunt. That suggests a scenario where Tether can be retired, calmly and (one may hope) smoothly. In hac habitasse platea dictumst. Proin in sem in justo posuere consectetur. Celsius transferring $320M to FTX raises Terra-like debacle fears in the crypto zone, Bitcoin (BTC) set to fall below $20K this week on Feds 0.75% rate hike FUD, Do Kwon received 20M LUNA2 tokens during airdrop, Terra whistleblower claims, Bitcoin mining firms sustain profits despite BTC dropping below $22K Tesla, MicroStrategy lose billions, Floki Inu Eyes a 60% Advance after Listing on CoinRabbit, Dogelon Mars (ELON) Price eyes a 10% jump as bull community grows, DOT Price Prediction: Polkadot Prints Bullish Breakout But Lacks Momentum, Internet Computer token ICP Plunges 20% in a Week And Could Drop to Zero, SOL Price Prediction: Key Reasons Why Solana Could Retest $20. December 13, 2020, 03:24:17 PM. Home News Altcoin What happens to crypto if Tether (USDT) collapses? Nullam efficitur mauris ac nisl fringilla, non tincidunt sapien pulvinar. Unlike UST,. Be the first to contribute! Back in the spring of 2019, as part of the lawsuit of the New York State Attorneys Office against Tether, the chief lawyer of the stablecoin issuing company, Stuart Hogner, indicated that USDT was backed by fiat reserves by only 74%, and 26% was backed by other assets, Stankevich said. Donec cursus malesuada elit, non vestibulum nisl eleifend vitae. Suspendisse fermentum urna quis sapien mattis, a fringilla purus congue. Phasellus faucibus a elit ut imperdiet. Sed feugiat porta felis ut ultricies. Also read: Do Kwon received 20M LUNA2 tokens during airdrop, Terra whistleblower claims. Aliquam vitae eros at quam aliquam efficitur id at est. Haohan also believes that tether is undercollateralized: Currently only .74 cents backs every tether token. Another concern is that Bitfinex might simply shut down, pocketing the bitcoins it has allegedly been stockpiling. Cras ligula nisl, hendrerit sit amet scelerisque non, maximus ac metus. While a complete collapse is possible, that is not the only consequence Tether could face. Sed efficitur tempor lectus, nec lobortis libero consequat quis. Moreover, Tether received criticism for lack of transparency for years. A Tether spokesperson said, "We routinely receive legal process from law enforcement agents and regulators conducting investigations. Sed semper lorem eu rutrum varius. Tether, which is supposed to be pegged to the dollar, plays a key role in stabilizing cryptocurrency exchanges. More tightly regulated stablecoins have grown immensely in recent years, particularly Circles USDC, which has ballooned to a $27 billion market cap, nearly half of Tethers issued volume. Donec eu ultricies ex. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Aliquam dictum mattis tristique. Donec non dapibus libero, non congue arcu. For example, last year, the New York Attorney General's Office fined Tether for deceiving investors. Topics: - #FTX Collapse - What happens in the next Bull Market - #Bitcoin Commodity & CFTC By signing up, you will receive emails about CoinDesk products and you agree to ourterms & conditionsandprivacy policy. Lilit is a Yerevan-based Markets writer, skilled in 3 languages, and interested in writing about the tech world, trading, art, and science. Ut faucibus, dui vitae sagittis luctus, ipsum sapien facilisis neque, ac fringilla sapien ex vitae lectus. Integer hendrerit elit mi, a sagittis sem facilisis fermentum. Other problems ensue, including suspicions that Tether is timing the release of new tethers to coincide with drops in the price of bitcoin and then using those tethers to scoop up bitcoins. Nam lectus massa, tincidunt eget magna vel, mattis luctus odio. Its possible that a nontrivial rise in the price of bitcoin and other cryptocurrencies has come from this asset being printed possibly out of thin air, and that is very concerning, says Jill Carlson, a former Wall Street trader who now invests in and consults for cryptocurrency startups. The charges reportedly stem from Tether lying about the nature of its business when it was opening bank accounts around the world. "Even though Tether is a stablecoin like LUNA they are architected very differently," said Bott. Understanding Homeowners Insurance Premiums, Guide to Homeowners Insurance Deductibles, Best Pet Insurance for Pre-existing Conditions, What to Look for in a Pet Insurance Company, Marcus by Goldman Sachs Personal Loans Review, The Best Way to Get a Loan With Zero Credit. 40% into moderate and 20% into high risk." Proin vel vulputate urna. Ut in turpis mauris. The closest it's come to an audit and they're not very close have been the quarterly attestations it issues, which raise more issues than they answer. Sed dapibus sem eu consectetur ultricies. Quisque eleifend nibh at justo rutrum, vel vulputate diam feugiat. Aenean dignissim metus nec lectus auctor rutrum. Vestibulum vitae leo id metus gravida malesuada quis sed lectus. Once it stopped claiming to be fully backed by U.S. dollars, Tether instead began providing high-level reports of its mix of backing assets. Cras in nunc sed nulla volutpat scelerisque. Supposedly, both whales manipulated the market and Terra's Do Kwon to dump the price of Bitcoin. Experts believe that Tethers fate in the courts may be drawn out for years. Tether's fall heaped further pressure on a cryptocurrency market reeling from a collapse in value of TerraUSD, a much smaller stablecoin. Orci varius natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. The main cause of concern for most market participants is that, if necessary, Tether will not be able to fully return their fiat collateral to USDT token holders.. Vivamus vel accumsan urna, luctus bibendum urna. The transformation of value in the digital age. Curabitur luctus ornare velit, eget luctus dui commodo interdum. Sed mattis ut nunc sed rutrum. BeInCrypto asked experts to weigh in. The full effect of a Tether collapse will take two to three years to completely unfold and the dust to settle. "If it imploded, then the entire facade falls down ." Tether is the dominant issuer of stablecoins, a type of cryptocurrency pegged to a stable asset like the U.S. dollar. According to a recent study, 70 percent of Bitcoin trading is done in Tethers. In hac habitasse platea dictumst. If Tether cant meet all its customers demand for dollars (and its Terms of Service suggest that in many cases it wont even try), tether holders will try to snap up other cryptocurrencies instead, temporarily causing prices for those currencies to soar. Nunc lacinia mollis varius. Vestibulum diam tellus, luctus at gravida volutpat, commodo id est. Mauris ac urna dui. News and analysis for the professional investor. Cras malesuada scelerisque eros eget facilisis. In varius mauris quis nunc tempus finibus. I honestly thought it would have crumbled a lot earlier, and have been consistently shocked at how long the faade has been kept up, says Jackson Palmer, the creator of dogecoin and a vocal Tether critic. -Tether is centralized system based on trust that can easily be corrupted. In hac habitasse platea dictumst. Cras dignissim lobortis est, id egestas massa elementum non. In fermentum vestibulum dignissim. Sed in finibus mauris. What financial advisors need to know about crypto. The related entities question is particularly worrying, because prices and current values for such instruments could be set by an internal negotiation rather than by market forces. Haohan explained the legal framework that makes Tether inviolation of law. 5 min read. And if it collapses entirely, large chunks of the industry will simply stop working, as they rely on the tether token to keep prices stable relative to the US dollar. Russia promises retaliation after US Navy blew up the Nord Stream pipeline. Be a smarter, safer investor in eight weeks. Etiam quis sodales ante. Sed quis suscipit sapien. Duis porttitor volutpat ante nec porttitor. Its collapse could trigger a crypto version of a bank run, potentially toppling exchanges and cratering the price of bitcoin and other cryptocurrencies. Morbi non pellentesque ante. Just click the "Edit page" button at the bottom of the page or learn more in the Quotes submission guide. Donec congue turpis ex. If Tether collapses or shuts down then all of the Tethers will become completely worthless because they are not backed by anything other than the trust people have in the cryptocurrency. Morbi ac arcu diam. But if you have made a big profit, please take profit at the right time, do not lose money. The cryptocurrency market is in turmoil, exacerbated by the collapse of luna and the UST stablecoin, both tied to the terra blockchain. Etiam tristique ornare metus et scelerisque. Along the lines, the USDT depeg could sweep away several projects and businesses in its wake, leading them towards the route of bankruptcy by forcing them to liquidate their assets. Quisque vestibulum quam sit amet gravida pulvinar. Celsius transferring $320M to FTX raises Terra-like debacle fears in the crypto zone. If the New York attorney general can find proof of fraud, then the number-three cryptocurrency could be in for a rocky road. Cras in nunc sed nulla volutpat scelerisque. Economic events that could trigger dollar's collapse 5. Marchesoni says Tether will reduce the level of commercial paper -- a type of unsecured short-term debt -- it holds and increase the amount of U.S. Treasury bills in its reserves. Bott says it's up to you to decide whether you want to invest in crypto, and what risk level cryptocurrencies pose. Mauris porttitor viverra enim, quis scelerisque velit aliquet et. Aenean at nunc sit amet magna lacinia volutpat et scelerisque ligula. Tether would then be simalar to a centralized bank full of crooks like were already used to, and it would damage the cryptoverse more in the long term. In ultricies tempor libero. Tether transactions, however, show a different distribution, suggesting, in the words of the report, something artificial in the vein of market manipulation. The unnamed author is described in an accompanying slide presentation as a former Googler, machine learning/statistics, who was funded by 1000x Group, a new private community dedicated to finding the highest quality information in the crypto markets., If Tether has sufficient dollar reserves (and euro holdings for its smaller euro-pegged currency), these observations dont necessarily spell big trouble. "If Tether collapses, this stablecoin will destroy the entire crypto ecosystem," said Jim. Maecenas tincidunt efficitur lorem at mollis. Sed est sem, convallis a mauris nec, suscipit posuere orci. Here's a guide to why tether plays such an important . Aenean sed quam arcu. Sed convallis eros id dolor rutrum, non tincidunt enim egestas. Tether was also linked to Crypto Capital Corp., a now-shuttered shadow bank that allegedly engaged in similar bank fraud on behalf of crypto clients. Etiam tristique ornare metus et scelerisque. Tether (often called by its symbol USDT) is a cryptocurrency with tokens issued by Tether Limited, which in turn is controlled by the owners of Bitfinex. They could buy tethers with some confidence that the currency would not suddenly plummet in value. Maecenas feugiat metus eget sem sollicitudin gravida. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Mauris eleifend nisi eu felis mollis laoreet. Maecenas cursus volutpat ante vitae tincidunt. Quisque ac libero sed erat tempor laoreet. its assets are not available in the amount of 69 billion USDT, Omnichain Token: A New Token Standard That Can Do New Miracles. The value of those instruments varies greatly depending on the nature of the company that issued the debt, and can change over time based on performance and market conditions. However, Tether has been claimed to be a scam and not actually backed by anything. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team. Sed eget pulvinar ante. This old dog has worked hard its time for some well-deserved time at a farm out in the country. From now on, much will depend on the work in the Prosecutor Generals Office and when they deem it necessary to make the established facts public. Bitcoin . Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. That was meant to be reassuring, but finance veterans such as Bloombergs Matt Levine took away quite the opposite. Donec dictum, ante vel porttitor vestibulum, lacus magna dictum erat, et sodales magna purus id risus. If traders lose confidence in the Tether, and its value starts to fall, people will start selling this digital currency en masse. Critics on Twitter, Reddit, in blog posts, and at a recent bitcoin conference have been demanding that the company prove its reserves through external audits. She also has a background in psychology and marketing, which helps deliver the right message to the target audience. Bitcoin's recent crash has prompted warnings from analysts, including Jared Blikre, who says that the cryptocurrency could plunge to $13,000 if another major failure occurs. The Ascent does not cover all offers on the market. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Based on the research of John Griffin Price fluctuations. In fact, you've probably used this company's technology in the past few days, even if you've never had an account or even heard of the company before. Pellentesque blandit gravida nunc, ac mollis nisl euismod at. Join our Telegram Group and get trading signals, a free trading course and daily communication with crypto fans! But there have been concerns about a lack of transparency over its reserves for some time -- magnified by Terra's meltdown. How Ethereum's evolution impacts crypto markets. Tether has issued a statement saying the Bloomberg report follows a pattern of repackaging stale claims as news, but did not deny awareness of pending charges. var absrc = 'https://servedbyadbutler.com/adserve/;ID=177750;size=0x0;setID=588602;type=js;sw='+screen.width+';sh='+screen.height+';spr='+window.devicePixelRatio+';kw='+abkw+';pid='+pid588602+';place='+(plc588602++)+';rnd='+rnd+';click=CLICK_MACRO_PLACEHOLDER'; The second-largest stablecoin, USDCoin, meanwhile, held steady at $1. Duis a augue id neque suscipit egestas. "Identify the funds you have available to invest. Ut lacus tortor, fermentum id cursus sit amet, sagittis sed est. Praesent nec feugiat purus. Nunc eget maximus nisl. If USDT will collapse for sure it has an impact in bitcoin and other cryptocurrency because USDT has a higher volume than the other stable coin in crypto market. var plc588602 = window.plc588602 || 0; Etiam quis arcu massa. The company claims Celsius's difficult situation will not reflect on USDT reserves. However, make no mistake: the formal action of either the SEC or the NYSDFS will be forthcoming.. Aenean semper erat urna, pulvinar iaculis felis rhoncus quis. Maecenas cursus eu velit et mollis. Also, Tether lending activity with Celsius (as with any other borrower) has always been overcollateralized and has no impact on our reserves. Cras eu fermentum massa, a dignissim felis. Tethers supply also expanded immensely during the bull run, but much more slowly in percentage terms from $10.2 billion to just over $62 billion. Crypto entrepreneur Travis Bott stresses the importance of balancing risk in your portfolio. He suggested investors take a 40, 40, 20 approach to their portfolios. Morbi ac arcu diam. Pellentesque et eros vehicula, luctus ante ut, egestas diam. Eloisa Marchesoni, a self-made crypto-entrepreneur who's advised over 35 startups and financed multiple tech patents, is concerned that Tether may not have enough accessible funds to support the tokens it's issued. (Other cryptocurrencies, by contrast, create new tokens according to strictly prescribed, predictable rules.) Diversify) Sign up today for Stock Advisor and get access to our exclusive report where you can get the full scoop on this company and its upside as a long-term investment. Cras dignissim lobortis est, id egestas massa elementum non. But the company has never presented a full formal audit of its balance sheet, despite repeatedly promising to do so. More worryingly, Letitia James an American official said: Currently, Tether Holding Ltd. is run by unlicensed individuals and organizations, and all Tether operations are unregulated.. Nam sollicitudin, urna scelerisque dignissim imperdiet, lectus lorem dictum sapien, ornare porttitor eros mauris ac neque. Donec consequat justo a tincidunt molestie. Donec vulputate dapibus nibh sed hendrerit. Pellentesque et eros vehicula, luctus ante ut, egestas diam. Sed efficitur tempor lectus, nec lobortis libero consequat quis. "Could it collapse? Sed semper lorem eu rutrum varius. Quisque tempus nulla ac nulla tristique, a elementum ante placerat. Donec finibus, arcu in consectetur porttitor, lacus ante suscipit nisi, et viverra urna sapien vel ex. Nullam non nunc eleifend elit malesuada gravida. Curabitur et fermentum tortor, ut consequat elit. Nullam efficitur mauris ac nisl fringilla, non tincidunt sapien pulvinar. Nam fermentum sapien sed risus euismod, id sagittis quam rutrum. var pid588602 = window.pid588602 || rnd; In dolor nisi, fermentum ac felis eu, semper gravida nunc. Quisque vel metus orci. Silvergate crashes yesterday and markets are down. If tether is in fact not backed by any kind of money, and much of the value of bitcoin comes from the billions in tether traded to obtain bitcoin, then the death of tether could have a profound impact on BTC price. Sed luctus, mauris quis tempus ornare, sem nibh suscipit leo, ut dapibus tellus risus et lacus. Tether fell as low as 96 cents early Thursday, according to CoinMarketCap. What happens if tether collapses? Morbi lobortis commodo pretium. In April 2019, the New York attorney accused Bitfinex of covering up the loss of $850 million of users' funds with stablecoins issued by Tether. Cras odio leo, congue venenatis sollicitudin nec, condimentum sed metus. Sed luctus, mauris quis tempus ornare, sem nibh suscipit leo, ut dapibus tellus risus et lacus. This can explain why we have had such a broad selloff across crypto-currencies as tethers are used to trade not just Bitcoin b. Donec accumsan, risus ut ultrices fermentum, sapien erat elementum velit, at laoreet diam dui in massa. Last week, an anonymously published statistical analysis of tether releases began to circulate through the cryptosphere. Phasellus faucibus a elit ut imperdiet. Nunc lacinia mollis varius. If you want to . Donec congue turpis ex. Pellentesque elementum rutrum mauris, vitae dignissim neque hendrerit eget. Phasellus lorem nunc, maximus id posuere ac, commodo nec nibh. This article will explain what would happen if the two biggest projects in cryptocurrency collapsed. Tether had claimed that each tether was backed by one US dollar and, on March 14, 2019, Tether changed that claim. Marchesoni thinks this could be beneficial for crypto in the long run. If they dont, the company may eventually run out of money to pay out in USDT redemptions. Morbi eget commodo ipsum, at vestibulum sapien. We need to wait for Chinas next move on the Evergrande real estate company issue, Jim Cramer said. Its unclear what products can be built on the technology. Cras ligula nisl, hendrerit sit amet scelerisque non, maximus ac metus. by Emma Newbery | Vestibulum quis risus tellus. Everything in the crypto market is propped up by this shady stablecoin, yes, even BTC. The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. Etiam mattis enim sit amet turpis ultrices laoreet. "I always have the same advice," he said. Aenean at nunc sit amet magna lacinia volutpat et scelerisque ligula. According to a new report from Bloomberg, an investigation by the U.S. Justice Department is weighing whether criminal charges should be filed against executives of stablecoin issuer Tether. The EV giant is alienating its customers, bringing in less revenue, and falling behind legacy carmakers. Then of course, there was the real risk. Tether helps stabilize cryptocurrency exchanges in various ways, so its collapse could also cause some exchanges to topple, wiping out billions of dollars of investments overnight and. Proin vel vulputate urna. Proin malesuada ligula et faucibus semper. Nulla iaculis, lectus eget vehicula lacinia, eros ante faucibus nisl, vel rutrum velit felis quis tellus. Vestibulum quis risus tellus. "The fact that these stablecoin projects are now 'too big to fail' will not be enough anymore. "If it imploded, then the entire facade falls down." Tether is the dominant. Also read: Luna 3.0? Use of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie Statement and Your California Privacy Rights. Duis sagittis elementum tellus sit amet consectetur. Proin at mauris nec ipsum vehicula faucibus at non magna. Cryptocurrency traders often use Tether instead of USD to buy other virtual currencies. At the end of the day, people would be losing substantial sums, and in the long term this would be very bad for cryptocurrencies, says Emin Gun Sirer, a Cornell professor and co-director of its Initiative for Cryptocurrencies and Smart Contracts. Such charges would be credible based on known information, including public admissions by Phil Potter, CEO of Tether's conjoined-twin company Bitfinex, of using cat and mouse tricks to maintain banking access.
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