Tether Confirms Extensive Collaboration With DOJ, FBI and Secret Service

[pooya87]

It's worrying investors that's why they haven't been on tether buying sprees. If they'll block holders from funds because of fraudulent or inaccurate requests it's going to cause investors to dump. Tether isn't a good option to invest in.

People don't "invest" in something that has a fixed value, they use it for convenience and because they have no other option. For example when they want to transfer funds between exchanges without losing much Tether is a good option compared to others (fiat costs a ton of fees and has a lot of limitations; cryptocurrencies have medium fees but trading them on different exchanges would lose you a lot of money due to spread and price differences; Tether on the other hand has fixed value) or when there is a bear season specially when altcoins are dumping hard they can use Tether as an escape.

This is why despite all these serious risks, people still continue using this centralized shitcoin.

[suzanne5223]

There are alot of reasons why people should stop using Tether aka USDT even since the stablecoin had an issue with law years ago due to the fund they used to support a crypto exchange which I currently don't remember the name of the exchange.
Meanwhile, if all cryptocurrency enthusiasts wanted to prevent issues like USDT collaboration with the DOJ, FBI, etc they need to stop using both USDT, and USDC and introduce a decentralized stablecoin, or else as stablecoin is considered all of them are working with the FEDs.

You might be referring to Bitfinex. If I'm not mistaken, both Tether and Bitfinex are owned by one company. There were suspicions, much stronger in the past, that the funds used by Tether as its reserves are also the same funds used by Bitfinex in declaring its own proof of reserves. There's an intermingling of funds by both companies to boost their reserve numbers.

Anyway, both USDT and USDC are centralized. DAI is the more reputable option. But everything's pointless if you are using a centralized exchange anyway. If you are avoiding USDT because it is collaborating with DOJ, FBI, and other secret services, but you are using the likes of Binance, then you are actually not safer. Centralized platforms are also working closely with government agencies.

Thank you. I was talking about Bitfinex and the issue happened in 2021 if I am correct. Meanwhile, the accusation was true and the organization was penalized for it that's why they are providing public reserve information about Tether now just to show their transparency to the world. If you notice, you'll that Bitfinex market cap was low later.
Nevertheless, the problem DAI once had about devaluation has made some crypto enthusiasts not fully trust the stablecoin and I can understand because reputation is hard to build once tarnished in the crypto market.
Just like you said, if even a decentralized stablecoin everything is still the same if using a CEX.

[Hazink]

JUST IN: Tether freezes $1.4m USDT linked to US tech scam

“The seizure of $1.4 million worth of Tether (USDT) marks a significant milestone in our ongoing efforts to uphold integrity in this rapidly evolving industry.”

I was thinking before that Tether is only in cooperation with law enforcement agent within the US soil, but I was wrong as they are currently in Brazil, Singapore, Philippines, Germany, South Korea, Norway, Poland, Switzerland, Greece, Canada, Croatia, Italy, Argentina, Australia, Belgium, Cayman Islands, China, Netherlands, El Salvador, Germany, Hong Kong, India, Ireland, Israel, Kyrgyzstan, New Zealand, Spain, Taiwan, the UK, Ukraine, Estonia, and the United States.

[arabspaceship123]

Invest was a poor word traded was better. It's incredible ppl choose tether so much because it's centralised. If ppl don't want to risk holding their $73k bitcoin because they're anxious it's going to drop to $67k they'll consider stable coins for fixed value as options. If they'd turn to other crypto there's a chance they'll lose value if bitcoin does. If USDT freeze your funds or it falls to Terra levels it'll wipe out your savings & investments.

It's worrying investors that's why they haven't been on tether buying sprees. If they'll block holders from funds because of fraudulent or inaccurate requests it's going to cause investors to dump. Tether isn't a good option to invest in.

People don't "invest" in something that has a fixed value, they use it for convenience and because they have no other option. For example when they want to transfer funds between exchanges without losing much Tether is a good option compared to others (fiat costs a ton of fees and has a lot of limitations; cryptocurrencies have medium fees but trading them on different exchanges would lose you a lot of money due to spread and price differences; Tether on the other hand has fixed value) or when there is a bear season specially when altcoins are dumping hard they can use Tether as an escape.

This is why despite all these serious risks, people still continue using this centralized shitcoin.