Tether loses 10 billion dollars

[PaulBf1]

Investors have taken out 10 billion dollars out of tether in these past few weeks according to The Guardian
You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk

as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?

[JeffBrad12]

as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?

They know something we don't know. Probably their own agenda. They were taking huge amounts of their USDT. That proves that if there will be something bad happening. I may think if what already accused by a member here may become true. Tether has not fully backed by the dollars and those whales are feeling worry with it and they are taking their money from the market rather than put their money into the risk caused by UST has proven even stable token that can collapse anytime.

[$anounimus$]

For whatever it's worth, I feel like this will be a historic day for Bitcoin and other cryptocurrencies in general. It's not just that there are doors open to other financial industries. as you mentioned above what's interesting about this situation is that for the first time we can actually see how much USDT is in circulation and who owns it on the other hand Tether has no intrinsic value, it was the first cryptocurrency to exist and struggled for years below the 1:1 benchmark because people still believe it.

[Takyeon]

USDT is still the grand master of stable coins and it's audited too, I dont know why people are worried about other stable coins because of what happened to UST, we can clearly see how incapable the Luna teams are so do not compare UST with others.

[Oshosondy]

Investors have taken out 10 billion dollars out of tether in these past few weeks according to The Guardian
You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk

This is bear market, did you know how many dollars that has been taken out of bitcoin and all altcoins? It is in billions. This should not be a panic, tether was once worth less than $10 billion in 2 or 3 years ago but its price remain stable with dollars which it is pegged with.

What I did not like about tether is just that the coin is centralized and can be frozen even on noncustododial wallet by Tether developer. This is a reason not to buy tether.

[zasad@]

This is a small amount for the crypto market, maybe the manipulators want more panic.
However:
Andreessen Horowitz raises $4.5 billion crypto fund to take advantage of bargains in down market
https://www.cnbc.com/2022/05/25/andreessen-horowitz-raises-4point5-billion-crypto-fund-in-down-market.html

[diminizio]

there is no valid news source with what you are talking about the picture you provide as a chart also does not make that proof that anyone or company has lost that much USDT and it has no impact at all on the USDT market at this time they are still stable and calm. If what this graph means is transactions that go out of USDT supplies into people's wallets, I think that's normal, they are working properly.

[Kocret02]

Investors have taken out 10 billion dollars out of tether in these past few weeks according to The Guardian
You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk

as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?

People like this see things based on opportunities, maybe there are new things they see, so they need to take that step in securing their assets, for now people who have assets in Usdt need to be aware of this, maybe in the future they will make a scenario massive correction of Usdt and we never know for sure what they are planning in the future

[ryzaadit]

Whats the points ?

It's normal in and out money, as long the pegged money is 100% 1:1 by US DOLLAR. Then nothing is wrong, however the speculation rumor the backup asset is not 100% full back up + Tether spread the money not only USDT but also some investment too based the information of their treasure money.

[mindrust]

Investors have taken out 10 billion dollars out of tether in these past few weeks according to The Guardian
You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk

as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?

"investors"

You are pretty naive imo. I think them investors never existed. Do you really believe some big whale (or a few) whales) just decided to pull $10b out of tether (which was 1/8 of tether's total supply btw) just like that? When usdt marketcap was going down it was always round numbers like $1b, $2b, $500m. Now the marketcap is going down and the same thing is happening.

So, investors my ass.

[andyou1234]

for now I still see the movement of tether is very stable and still very calm there is no decline there, you should provide evidence and relevant data about the decline in tether, is the chart you sent is a former transaction in and out of  someone's wallet, and that's very clear not from the charts on cmc or any other market,

[nimogsm]

I'm just being safe and choosing different stablecoins.I think the last situation has already taught many that it is not worth keeping only one asset so that they wake up in the morning and realize that you have lost everything.It is important to always be prepared for the worst-case scenario.

[WalkerIVIV]

doesn't matter if the reserved fund that's pegged for the USDT is still there and not algorithmic, since it's real backed up with real money then even if there is someone withdrawing more USDT it will definitely be fine.
Unlike algorithmic UST that could get shaken if the market condition become bad and at the same time there is massive selling for the UST because it is an algorithmic that relies heavily in various instruments like other cryptocurrencies.

[goaldigger]

USDT is still the grand master of stable coins and it's audited too, I dont know why people are worried about other stable coins because of what happened to UST, we can clearly see how incapable the Luna teams are so do not compare UST with others.

You cannot blame them, since a so called stable coin collapsed and many are afraid right now that it might happen again to other stable coin. Tether also move on its price and maybe the selling pressure are the reason why there’s a sudden dump. Anyway, Tether are more established, I’m pretty sure they have the back up plans now that they have the idea ok what will happen if a stable coin suddenly become too volatile.

[rhomelmabini]

We don't know what that is but something is for sure this is a bear market and we can expect like this to happen. What can we speculate for a stablecoin by the way? I think it doesn't related to the market performance like being FOMO, it's more on the security side I guess considering that UST collapse.

[el kaka22]

This is actually working out well for USDT as well and Tether company. You know why? Because investors withdrew all that much money, and they were capable of withdrawing that much money without the price moving at all. There are so many projects where if you withdraw 10 billion dollars, they would either not be able to pay it, or they would have a problem in the long run.

This is something we need to care about a lot, if Tether is capable of paying this much, then it is going to end up with a good result in the long run. They are gaining a lot of trust with this move, and people will trust a lot more money to them when the bull market comes by looking at this move.

[Jating]

Investors have taken out 10 billion dollars out of tether in these past few weeks according to The Guardian
You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk

as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?

I think investors must have think that maybe a similar thing could happen to Tether like the UST of Terra. So maybe they are slowly withdrawing some it and now up to 10 billions have been taken out in the past few weeks.

Of course, for average joe this is scary and alarming because this could mean another crypto bloodbath. Hopefully though those whales are putting it back in the market in other forms of crypto, like bitcoin and any other solid altcoins.

[teosanru]

Investors have taken out 10 billion dollars out of tether in these past few weeks according to The Guardian
You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk

as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?

Even though on this scale I do see this as a giant collapse in absolute terms obviously but if you clearly see there have been some minor hiccups in the overall chart earlier also which means that there have been times earlier also when such things have happened, one major reason could be some upcoming bullish movement reduction in the amount of USDT might mean people are going to buy alts in upcoming month. It's too difficult to talk about consequences of such a small thing.

[iv4n]

Whats the points ?

It's normal in and out money, as long the pegged money is 100% 1:1 by US DOLLAR. Then nothing is wrong, however the speculation rumor the backup asset is not 100% full back up + Tether spread the money not only USDT but also some investment too based the information of their treasure money.

I was in crypto before stable coins... when they appeared I remember I saw the same rumors, it's not 100% fully backed up! After many years the same rumors are still around, but still, it's being used widely! Can we make any conclusions from that?! I sure can't!

I also believe it's just in & out money! From 80 to 70 billion market cap is a nice drop, but nothing alarming, in my opinion! Maybe it's Musk withdrawing funds to buy Twiter?!

[jrrsparkles]

Investors have taken out 10 billion dollars out of tether in these past few weeks according to The Guardian
You can visuals it better by looking at their marketcap graph: https://imgur.com/Q5s0Sgk

as you can see this has never happened before and the people who are selling out their USDTs are not your average joes but rather the whales,so what do you think ? Do they know something we dont ?

Or probably due to the fear of stable coin crash especially after what happened to UST in the last week or two, isn't?

I assume that whales along with average joes are moving towards the decentralized coins like bitcoin which keep the resistance on line and didn't let the panic selling to consume investors.