What is the real deal on USDT Tether?

[acdc]

Because the assets of this project are mostly in gold, the shares of many different companies, holding this currency is still risky.
If one day the gold or shares held by the USDT project lose value they may not be able to secure the USDT coin. If you are holding USDT please pay attention to this.

[J1mb0]

Because the assets of this project are mostly in gold, the shares of many different companies, holding this currency is still risky.
If one day the gold or shares held by the USDT project lose value they may not be able to secure the USDT coin. If you are holding USDT please pay attention to this.

If the USDT market crashes it will be a huge blow to the crypto market. It is possible that the cryptocurrency market will not be able to crash but it will be affected and fall deeply.
And this is entirely possible when the amount of cash that the USDT project holds cannot cover the entire amount of USDT they issue.

[Master of Shitcoins]

I am increasingly reading highly concerning analyses of Tether, saying that it is has not been audited, could cause crypto markets to crash, etc.

You are right, it is very suspicious about USDT and it might not be completely backed by real USD.
Because imagine if anyone will set up a stablecoin but has no backing. It means, a stablecoin would have no value.

And experts arevery caution at USDT because it could not be completely backed by USD. If it gets exposed, many ppl will lose trust in stablecoins and it will give a big sell.

[Bitstar_coin]

So have you read an old article way back in 2019 - https://www.newsbtc.com/news/crypto-community-reacts-to-tether-admitting-usdt-not-fully-backed/? They admitted that they were not fully backed by USD assets at that time. And right now, we don't know the absolute truth if they are now 100% fully backed. Being no. 3 is quite a feat. But if you are not comfortable in holding USDT, better opt for BTC or other currencies like ETH or BNB.

There should be other stablecoin that have been audited and safe to hold, between since 2019 till now is enough time for the usdt team to audit their project because millions of investors holding usdt and it won't be nice to stall with the process, it is definitely a thing of concern though despite it is the most used stablecoin.

[JeffBrad12]

I am increasingly reading highly concerning analyses of Tether, saying that it is has not been audited, could cause crypto markets to crash, etc.

That's just FUD and tether was never making the crypto market to crash. Tether is also fully audited right now and it looks like that you were taking the old news as a proof to support your assumption, right?

What do we actually know about this situation? Should we be listening to the Cassandras on this one?

Who is cassandra? is that an author for the FUD article that already published in the past?

[tvplus006]

What do we actually know about this situation? Should we be listening to the Cassandras on this one?

Who is cassandra? is that an author for the FUD article that already published in the past?

Cassandra is a prophet in ancient Greece, who foresaw the destruction of Troy and was given this gift by Apollo: https://en.wikipedia.org/wiki/Cassandra
Obviously, the OP would like to find an analyst whose gift for predicting the stability of USDT would be comparable to Cassandra prophecy.

[sana54210]

I am increasingly reading highly concerning analyses of Tether, saying that it is has not been audited, could cause crypto markets to crash, etc.

What do we actually know about this situation? Should we be listening to the Cassandras on this one?

One of the most known facts about Tether itself is the fact that they have less than 4% of their money in cash. Yes you read it right, less than 4% is in cash. That is why I never trust them and I will never own USDT more than few seconds in my life. That is the thing about crypto, you have to trust the project you put your money into or they could always crash and burn and you will be holding nothing. They have stocks, they have bonds, they have many other things but at the end of the day they do not own cash, they have "cash like" stuff that they can sell right away if they want to but that's it.

Even those "cash like" things were under 80% I think. That is why I do not trust tether, because they do not have the backing for 1 to 1 ratio and why would I give someone who doesn't even have what they claim they will have? There is no reason to trust them at all.