USD Thethers just unraveled here's the Crypto Meltdown

[SilverCoin300]

There is no way they have money to back tether. It is just being created out of thin air. How can they jus create 600 million tethers?

[lumeire]

People are going to be like "FUUUUUUUUUD" but we need to be real for a second. This is happening and it is going to hurt. I will be launching a video on youtube talking about it tomorrow.

The irony here is this is exactly one of the reasons why BTCBTCBTC and cryptocurrencies were created for, to avoid scenarios like these. I really do hope Tether did not operate on a fractional reserve to cover for BitFinex's previous fiascos.

[Kryten12]

Must say I have alwasy been a little wary of Tether, and this latest story of their auditors ending the relationship certainly will not give ayone much confidence. As long as the coins are backed by the $ they are supposed to represent I don't see the issue with creating more of them, but if it is frational reserve lending then that will be a problem.

Look out for a new improved version of Tether, X8 just finished up their ICO

[Lindazz]

USDT has always been a destabilizing factor in cryptocurrency markets.
Because they may have too many USDT issues, and the USDT's finances are not disclosed, they may be suspected of manipulating market prices.

[bobq]

Tether should have been investigated as soon as the company who had issued it claimed that it was backed by dollars. We talsk so much about "trustless systems" and then we just believe just a claim?