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https://kryptous.com/the-prophet-warns-exit-all-crypto-exchanges-now/

Cash in banks
Hard Wallets

Exchanges facing crash

Really interested to see what will happen. I have been wondering this for awhile.

Wow "THE PROPHET" I like it.

To play devils advocate, why wouldn't people in tether just switch over to BTC or another crypto? Everyone has had the idea that tether was shady since it began. I don't see this having much of an impact on anything. This certainly isn't going to "crash exchanges"

I'm sick of FUD spreaders. The prophet !! Yeah right :)

Another FUD thread from newbies. What the fuck is saying? if you are wanna make use being scared caused by tether, and you are wrong at all.
But I just find news that related to this FUD
https://cointelegraph.com/news/somethings-fishy-tether-auditor-dissolve-relationship-according-to-rumors
Some are thinking about tether is not backed by USD and friedman is lied.

Read his warning, we will see spike on coins as people exit. Tethers.

Then as people exit exchanges to wallets and banks the exchanges don't have enough coins to exit since they all used fake USD Tethers.

So exchanges can't meet exits they crash.

People lose faith in Tethers they go to coins prices spike then exits expose the scam.

It's doing exactly what he warned look at the exit of tether spike.

It's happening

https://www.coindesk.com/tether-confirms-relationship-auditor-dissolved/

Tether has apparently dissolved its relationship with Friedman LLC, the accounting firm that produced the not-really-an-audit on Tether back in September. Here is the statement from Tether:

"We confirm that the relationship with Friedman is dissolved.  Given the excruciatingly detailed procedures Friedman was undertaking for the relatively simple balance sheet of Tether, it became clear that an audit would be unattainable in a reasonable time frame. As Tether is the first company in the space to undergo this process and pursue this level of transparency, there is no precedent set to guide the process nor any benchmark against which to measure its success."

No precedent to guide the process? The money is there or it isn't. That's what auditors do.

Incidentally, according to coinmarketcap another 600,000,000 in Tethers just came into existence about four hours ago. Tethers are now listed at $0.99.

In September Friedman sort-of-confirmed that Tether had money in the bank to back the less than $500,000,000 in Tethers then in circulation. More than that just came into existence. There are now about 2.2 billion Tethers.

That happened right around 1AM UTC January 28th. These Tether were printed a week to two weeks ago. Now all 2 1/4 billion "granted" Tether are circulating.

For the record, Tether broke downward out of its trading range immediately. BTC started spiking up three hours later. The mempool saw a (probably statistically insignificant) increase in transactions an hour after that (5AM UTC), especially in the 5 to 10 sat/B range.

I saw this coming since long time ago. USDT look very shady and unreliable as a tool to measure total cap of the whole market.

Wow, I can't believe I just clicked that AIDS stricken link.  Now I fear my computer is infected and have to use an antivirus software to scan it.  I use a Mac, and yes, I am that scared.

Click at that link at your own risk.  I mean look at all the sockpuppets in here.  It's a new breed of sockpuppet.  I think they're born in Asia.  Lol.  ;D

Yeah that link looks shady af, maybe some moderator can remove this thread, not helping at all

I clicked on the link and neither my avast or malwarebytes software programs reacted, but I will scan my computer just to be safe.

I have long said that you should not use USDT, because it all comes from bankers who are trying to buy all the cryptomir, yet this Tether project is very strange and not transparent, never used it and will not. because there is a high probability that the tether project may not have the money that it claims

This site has more ads

Don't read the info

Keep your crap coins on exchanges

When the exchanges fall like dominoes over tether being a scam, your coins go up in vapor

The exchanges are set for a mass exit

Those who stay in them lose

Just like people ignored mt gox warnings

The exchanges are unregulated slot machines and the game is over

The problem with USD T is all the foreign exchanges use the monopoly money

Bitfinex is a joke and USD Tethers a scam

So investors might finally exit the crap exchange and crash it

But the ripple effect could crash the whole exchange house of cards

https://mobile.nytimes.com/2017/11/21/technology/bitcoin-bitfinex-tether.html?referer=http://www.google.com/

Look at all the bullshit hacks bitfinex had now u got hacks of USD Tethers

Yet investors keep dumping coins and fiat into that crap exchange

all these exchanges melted down beginning of year everyone of them had no new customer signs up as new investors flowed in

Once the great Exodus hits they all crash

They can't handle volume ins or outs

The whole crypto market is one big powder keg waiting to blow up.

They'll be $3billiion tether any day now

Then $5billion

Then $10bilion

Eventually it crashes, wipes out bitfinex then the ripple wipes out Asia and then Europe and finally USA exchanges

They all have liquidity issues if coins crash and people want fiat exits

Crypto 2.0 exchanges will have no fiat and no Bitcoin valuations

Growing pains for crypto overall

Tether could be the cause of a great fall. There are a lot of facts that USDT plays a very dirty game. If it explodes it will be much worse consequences than Mt Gox failure...

that's correct. the only sustainable investment as of now is physical gold. stock market also has this kind of issue. they will crash soon along with crypto investment. damn, we are about to hit hard by another global crisis. it'll be uglier this time

Well , Tether is a problem and we know it . But it was a problem a months and even a years ago . So what ? In case if audit will show tether abuse - bitfinex will be a bankrupt and it will trigger another crypto market dump , but I don't think all exchages will suffer as much as bitfinex

''I can continue to come up with new products, to add value,'' he said. ''I'm not responsible for getting money. Getting it's hard when the market goes down. But there will still be products to sell. It'll just force me to be a little more creative.''

Interesting insight that coins will spike as people leave tether positions.  Will be interesting to see how this falls out.  I don't see the exchange crash scenario though.

Stop spreading FUD like these, it might lead into another market crash in cryptoworld and please note, we haven't recovered from the previous crash yet.

Just do not listen to these so-called prophets and invest wisely. Turn your Tether coins into other altcoins and go on. Do not concentrate on bad thoughts — it will not give you profit, which you will get if trade actively using ETH for instance, DASH, Cardano, NEO.

U.S. Regulators Subpoena Crypto Exchange Bitfinex, Tether
https://www.bloomberg.com/news/articles/2018-01-30/crypto-exchange-bitfinex-tether-said-to-get-subpoenaed-by-cftc

AFAIK old news, but the week hands didn't know that obviously  ;D

It’s not gonna be the exchanges that are going to crash alone lol, it’ll be most of crypto that will crash together with the fall of USDT

Nothing much it’ll just be that all USDT key pairs will take a massive hit and anyone who invested in tether will be heavily affected

It’s not all tethers crashing though? It’s mainly bitfinex’s USDT but there are alternative tethers like Cryptopia’s NDZT which is unrelated

Cryptopia already made a statement regarding tethers and they're encouraging the public to get out of tether.

It’s crazy how ignorant people are about where their money is.  I doubt people will mass sell out of tether into btc because most think it’s really just like being in dollars as they’re too stupid or lazy to research anything.

Thats crazy additional supply of tether came from nowhere,maybe developer's greediness drive them to create additional supply for their own benefit,this is worst than XRP's drama.

to OP dont spread FUDs because it might cause another market panic,you will lose your investments too,sometimes too much reading will lead you to unhealthy websites like what you linked to us,crypto guru?lmao.

I was thinking the tether problem for several weeks but i am not sure that the market is going to crash cause of tether.
There are not much people holding tether but exchanges lock down may be a big problem.