A good news or a bad news

[Anonymous100]

I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.

Looks like we also need to know how far the Tether side is in developing their coin. If we look at the coinmarketcap list, the number of Tether continues to grow from time to time. If so, then Tether can buy up any amount of Bitcoin they want just by printing a new Tether. I think it's a positive idea if the US courts ask them to show the USD reserve amount. If they continue to print Tether, they will create inflation for other currencies. Actually we don't need Tether, we just need USD, and other local currencies.
For example, in a country printing currency, say USD in the amount of 1 million dollars, then making a deposit in the crypto exchange as much as 100 thousand dollars, then the money circulating in that country is 900 thousand dollars. This will create a stable currency.
But the opposite is happening now. If the state minted a million dollar bill, and Tether minted a 1 million dollar coin. Then the US money supply in 1 year is 2 million dollar. So it is not in accordance with the country's foreign exchange reserves.

[serjent05]

I see no problems in asking transparency from them. Actually, it shouldn't be even needed to be US regulators asking for proof, but any investors and adopters should have access to these informations and documents when demanded. If USDT is legit and has everything backed and under control, they have nothing to hide. Transparency is the root of crypto universe and this same concept should be adopted by every projects belonging to this environment.

Same here, I also don't think that it is a problem to ask for transparency, instead I looked at it as good news since authority intervene so that the well-known stable coins that has been evading transparency had been ordered to provide one.  If USDT proves that they really have the reserve in a 1:1 ratio then the confidence level of the users of USDT will go up.  It will also bring peace of mind to holders because they know that the stablecoin won't depeg no matter how hard it got dumped because there is a reserve to accommodate those dumps.

[sayaya17]

I see no problems in asking transparency from them. Actually, it shouldn't be even needed to be US regulators asking for proof, but any investors and adopters should have access to these informations and documents when demanded. If USDT is legit and has everything backed and under control, they have nothing to hide. Transparency is the root of crypto universe and this same concept should be adopted by every projects belonging to this environment.

What happened to UST hurt a lot of people, so I hope what happened to UST won't happen to USDT. It is therefore very good news for
the crypto community to know that the government is starting to investigate USDT, it can prevent the manipulation that many investors fear.
Moreover, USDT is a stablecoin with far more users than UST, it can even be said that USDT is a popular crypto with a very high demand.
So if there is no transparency from USDT, it can indeed threaten investors in the future. In order to give investors a sense of security when
using USDT,  indeed need transparency to prove that USDT is not problematic.

[Rengga Jati]

I see no problems in asking transparency from them. Actually, it shouldn't be even needed to be US regulators asking for proof, but any investors and adopters should have access to these informations and documents when demanded. If USDT is legit and has everything backed and under control, they have nothing to hide. Transparency is the root of crypto universe and this same concept should be adopted by every projects belonging to this environment.

As long as US regulators don't put certain pressures and difficulties, and make things a big problem, this is actually a natural thing to do. However, if later it turns out to be problematic, of course, there will be worries for us crypto users, especially USDT users.
So far, rumors regarding USDT are often heard and there have been many people who have suggested the use of a stablecoin which is indeed more secure and decentralized. However, on the other hand, we are used to using USDT. So, what we will do? We can just watch and see the next decision, but we must also be careful on every probability by preparing the second choices.

[topman21]

I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.

Such USDT is really a big good news for the owner.If all his reserves are explored and he shows them willingly and if there is no deception in him, he will become stronger.People will have more confidence in him and he will gain more popularity.

[GelatikKembar]

I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.

I think this is good, will be trending and make many people do not hesitate to store assets in USDT, although stable coins, of course, many people think that the stable coins are safer, I also hope there is a currencies project other than USD so as to make cryptocurrencies users increase dramatically.

yes you are absolutely right, if USDT exposes and explains about it in the media,
then I am sure investors, traders and all actors in the crypto world will be very happy and safe,
because USDT is able to provide an explanation of this important thing,
but remember if they avoid it then we have to get ready for something bad to happen, well hopefully not.

[NewRanger]

I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.

I think this is good, will be trending and make many people do not hesitate to store assets in USDT, although stable coins, of course, many people think that the stable coins are safer, I also hope there is a currencies project other than USD so as to make cryptocurrencies users increase dramatically.

yes you are absolutely right, if USDT exposes and explains about it in the media,
then I am sure investors, traders and all actors in the crypto world will be very happy and safe,
because USDT is able to provide an explanation of this important thing,
but remember if they avoid it then we have to get ready for something bad to happen, well hopefully not.

i have feel the same with this dude, their dev wont expose it because they actually havent it 100,%. So far investors in market want get this explanation from usdt owner to make sure crypto space Will secure from any fud. Its been for long term and we actually Will facing night mare by usdt.