Will Tether go into crisis like XRP?

[batang_bitcoin]

Oh boy, it's getting interesting for Tether. Should we switch to USDC or any of the other stablecoins?

DAI would be the next good choice instead of another centralized stable coins.

I agree with you that DAI is a much better choice than centralized stablecoin. The problem I'm facing is that 99% of the exchange trading pairs are XXX/USDT, and keeping my stable coins in DAI will add another 0.1%/0.2% in conversion fees. It sounds like a small amount, but it's adding up when you are trading daily.

Still, I will follow the news closely and gladly pay the price if Tether will bust.

It's your basis and you know what to do in that situation.

XRP case is different because in the XRP case the price also crashed in downward direction so much so that is lose double it pruce, but tether is still maintaining a good and reasonable price.

Tether will actually retain its price no matter what as long as it has no issue that has been affecting it except the one that they're dealing with. It's rare to see a stable coin drop in price but AFAIK, there were a few ones that had drop its prices even being made as a stablecoin.

[SaveOurSea]

Tether already has a much bigger marketcap than Ripple. moreover, this token is not an investment token, but a Fiat token, or stable coin,
of course it will be difficult to get rid of this stable coin, Tether has long had problems with the SEC, but their strength against the SEC is very strong,
I believe USDT will survive in the crypto market in the long run much longer.

[CuriousGeorge]

XRP case is different because in the XRP case the price also crashed in downward direction so much so that is lose double it pruce, but tether is still maintaining a good and reasonable price.

Basically the legal suit that is always taken by the regulators will always be related to the violation that already made by the platform. If tether is not yet got law suit from the regulators and it's not yet violating the regulation but ripple does it with its own security offering.

So many tether haters were always saying it will be go to the crisis just like XRP. People are taking it must be printed into the 1:1 ratio with USD while tether clearly said that it was using another kind of source to backed the tokens.

[zerogrown]

Tether will be good unlike Ripple did. They are dragging things too long.

[crwth]

It can happen, but the possibility of becoming like XRP maybe a little bit too much. I don't think it's going to be gone anytime soon. There might be some fluctuations to its price being pegged to an actual dollar, but it's not going to be. I hope tether wouldn't be doing something illegal or something, or we are screwed. Possibly the value of BTC will go down as well if it happens. Everything could fall apart, and a crash will happen for sure.

[lumierre]

Tether is ideal for those who are afraid to risk their money. USTD is a stable currency, the price holds, does not jump. And there were already precedents with the SEC proceedings, but Tether passed all the checks and came out of the situation with a clean reputation.

[jaocoincrypto18]

While it is true that they are being prosecuted in the court of law for alleged market manipulation, hard evidence is yet to be presented. Therefore, all the accusations that have been submitted thus far, hold no ground as they are of purely speculative nature. There is no denying that there are scenario that’s been circling around for quite some time that Bitfinex influenced BTC price by printing USDT, in collaboration with Tether, that wasn’t backed. Until there are new witnesses or some sort of proof, the trial will remain stagnant.

[trickbergen5]

If TETHER got the same amount of pride with XRP, yes it will go through the same shts as xrp perhaps even worse because SEC loves playing games.

[3meek]

There have been questions about Tether for a long time, and periodically there is a fuss about the company... But it seems to me that if they really had serious problems, they would have been shut down a long time ago! That's why I don't trust various news and information noise... It is just to someone's advantage that at a certain point people are wary of USDT...
But I would not trust Tether completely, as well as any other cryptocurrency... I use it from time to time...

[Greatdev]

USDT is clean, they've passed through all proper verifications in the past, you need to do research on what USDT have passed through, they can't operate legally all this years if they aren't fully regulated, stop spreading panics

[ZZ8ZZ]

This thing about the Tether documents was just another FUD. There're plenty of threads about it. However if you some of you HODL USDT and feel scared about their funds, then just switch to DAI. Problem solved.

[feewzy]

And what is the problem, I do not understand what is difficult in switching to using another stable currency. there are a lot of them on the market.
And they are all completely the same and do not differ from each other in any way, they are built on the same principle, the complete pegging of the coin to the dollar. Yes, you may be used to using USDT, but if you switch to another stablecoin, you won't even notice any differences in use.

[masterrex]

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

Will Tether go into a crisis like XRP?

IMHO, I think it was highly possible, If we notice in 2020 there was a red flag already about Tether (USDT), and because of this it was possible that Tether (USDT) is already on the SEC radar for investigation, The SEC's hostile approach towards cryptocurrencies is mean a lot and I'm sure that the persecution will not end on Ripple's XRP but on other cryptocurrencies as well who knows it might be Bitcoin or Ethereum. Just my opinion!

[Spaffin]

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

Will Tether go into a crisis like XRP?

IMHO, I think it was highly possible, If we notice in 2020 there was a red flag already about Tether (USDT), and because of this it was possible that Tether (USDT) is already on the SEC radar for investigation, The SEC's hostile approach towards cryptocurrencies is mean a lot and I'm sure that the persecution will not end on Ripple's XRP but on other cryptocurrencies as well who knows it might be Bitcoin or Ethereum. Just my opinion!

At least Tether has already announced several times about real support of USDT by the corresponding dollar fund and shares of various companies. Based on this, USDT is assigned to a certain amount of value and this should already contribute to SEC's loyalty to Tether.

[bitcoin_bob]

Tether crisis will cause the whole industry crisis. Im not sure that we really need it

[tvplus006]

Tether is a stablecoin and luckily for us we have tones of other stablecoin in the market,  if for any reason tether is under the sec scrutiny then jump ship and use one of the very many available, to me, I do not bother myself with tether and what the future holds for them since there are alternatives because they only serve one purpose.

At the moment, all existing stablecoins on the market will not be able to replace USDT by capitalization. Thus, if it is necessary to fix profits in stablecoins, they will not be enough for everyone. Without waiting for the court's decision, I have already exchanged my USDT for BUSD and DAI, which seem to me more attractive among other stable coins.

[Tash]

Tether in bigger trouble than Ripple

[cheezcarls]

I am looking into DAI or BUSD as well in case something's not right with USDT regarding their current case along with Bitfinex. USDC is another option though. In terms of capitalization, USDT is currently leading in the list of stablecoins. I just hope nothing goes "really" wrong in the crypto market if USDT is indeed in big trouble later on because of the other stablecoins that are existing in the market as potential alternatives.

[Asuspawer09]

I dont think Tether will be in a huge problem just like XRP, its a huge problem if they actually bring down the USDT but with SEC claiming we dont actually see a coin or cryptocurrency that go down in the case of SEC reports, most of the time it will just end up or agreed with a million dollar fine.

XRP problem as a security already make a huge impact in the market dumping the XRP coin on .27cens in the market, if the problem is not solve for sure it will be a huge trouble for them. If SEC wins this its going to be bad in some other crypto or altercoins as well.

[tycsols]

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

As far as the legitimiacy and fiat backing of usdt is concerned im quite confidence it will be fine as recently their bank has also confirmed it fully, the only issue can be the fact that bitfinex violated any rules set by SEC before issuing usdt.