Tether: USDT is the next token to crash / Tether fraud exposed

[crzy]

If USDT is going to be a problem it should have happened before Luna and FTX, later Tether was audited and they drop proof of reserve too, that's what I read online but I will be surprised if something happened because right from day one all eye is on USDT and Tether.

This could trigger another bear trend and maybe this will be the worst one.
Stablecoins are on a big threat right now and if USDT fall into a big drop as well, then it will be hard for the market to rise again and for sure, the trust for stablecoins will be at risk. USDT should address every issues and assure the public about the safety of the funds, hoping that this is just a rumor.

[Yamifoud]

If USDT is going to be a problem it should have happened before Luna and FTX, later Tether was audited and they drop proof of reserve too, that's what I read online but I will be surprised if something happened because right from day one all eye is on USDT and Tether.

This could trigger another bear trend and maybe this will be the worst one.
Stablecoins are on a big threat right now and if USDT fall into a big drop as well, then it will be hard for the market to rise again and for sure, the trust for stablecoins will be at risk. USDT should address every issues and assure the public about the safety of the funds, hoping that this is just a rumor.

Actually, trust in stablecoins has already been disturbed after several crashes and scam issues. Investors are now about to think if they will invest them or not knowing the high risk and possibly losing their money. As this issue has been spreading and perhaps, it was alarming already - people will not put their money into them (stablecoins) and tend to stay away from them.

I have been using Tether before for my trade but now, after all the issues have been raised, I already stop and not use it anymore.

[AmoreJaz]

If USDT is going to be a problem it should have happened before Luna and FTX, later Tether was audited and they drop proof of reserve too, that's what I read online but I will be surprised if something happened because right from day one all eye is on USDT and Tether.

This could trigger another bear trend and maybe this will be the worst one.
Stablecoins are on a big threat right now and if USDT fall into a big drop as well, then it will be hard for the market to rise again and for sure, the trust for stablecoins will be at risk. USDT should address every issues and assure the public about the safety of the funds, hoping that this is just a rumor.

Actually, trust in stablecoins has already been disturbed after several crashes and scam issues. Investors are now about to think if they will invest them or not knowing the high risk and possibly losing their money. As this issue has been spreading and perhaps, it was alarming already - people will not put their money into them (stablecoins) and tend to stay away from them.

I have been using Tether before for my trade but now, after all the issues have been raised, I already stop and not use it anymore.

people should take this precaution seriously. it is not the first time usdt got into this kind of issues. remember, way back in 2019, the tether team itself stated that they were not fully backed with assets. now, we don't know if they are saying absolute truth about their assets. we can use them for trading purposes but holding them long term is not advisable in my opinion. it can go down without a warning.

[bitbollo]

@OP
stablecoins have a number of inherent problems regardless of their actual "solvency".
I personally wouldn't use them regardless of it and in fact I don't and as much as possible in my small way I always discourage their use

I don't have the tools or the knowledge to deny or affirm that what you say is true, however, if you call a service as a scam / ponzi you must present tangible supporting evidence! otherwise it is really difficult to be taken seriously and these allegations can be classified as FUD.

[o48o]

@OP
stablecoins have a number of inherent problems regardless of their actual "solvency".
I personally wouldn't use them regardless of it and in fact I don't and as much as possible in my small way I always discourage their use
-cut-

Please elaborate on what those other inferent problems are, because solvency is the only thing that comes to mind. Because if stablecoins are solvent they work exactly as they are supposed to work.

Or are you talking about the centralized connection to fiat money and that they must have technically reversable transactions? That's unfortunately unvoidable when you are talking real life assets backed stablecoins and there's no way around it. But aml regulations are going to be very tight for cryptos with permissionless transactions as well.

[bitbollo]

@OP
stablecoins have a number of inherent problems regardless of their actual "solvency".
I personally wouldn't use them regardless of it and in fact I don't and as much as possible in my small way I always discourage their use
-cut-

Please elaborate on what those other inferent problems are, because solvency is the only thing that comes to mind. Because if stablecoins are solvent they work exactly as they are supposed to work.
....

if you ask me this question it means that you have never read their TOS https://tether.to/en/legal/#terms-of-service .
I always invite people to do such read, because it effectively makes a product of this kind centralized and with a whole series of risks.
Pretty different from bitcoin and the nature of a "crypto currency".

[alexandr1115]

Of course, there are many disagreements about stablecoins, but it seems to me that Tether is quite large in capitalization and enjoys more trust than other stablecoins! but again, behind these stablecoins, as if there is some secret! But there is an interesting point that Ethereum and Tether have been recognized as a commodity, but what can this mean?

[Hildentine]

In this case i said that  Tether is a stablecoin and huge amount of people used that Stablecoins in different forms so without any proof why we agreed this agreement tether are crash soon ect . Its a very strong project and i simply said that anyone have some solid proof so its ok otherwise without proof not anyone agree.

[Paymanz]

USDT and UST are not comparable , whales still use it to transfer (probably hold) their millions dollars. check whale alert transactions , either USDT or USDC , they use these two , and rarely DAI. i never seen any of them use UST. just random people on reddit promoted it thinking its a big thing and USDT is trash. if millionaires and big money trust USDT then why shouldn't i? they always know these things better than average person.

[coinerer]

In the current situation no coin can be fully trusted and is USDT not able to price 1:1 now.  So it's a bit risky and crashes can happen with it too like UST.  So I only use USDT for my fund transfers and later convert them to Bitcoin or other valuable currencies and if I intend to hold constable coins I prefer BUSD and USDC. But even these are not 100% reliable too

[Maverick574]

saw a few strings about tether , saying that it will fall too and that it is running on partial stores. They have been hypothesize ages ago all things considered and in light of the fact that they are not ready to open their books. Yet, up until this point they are quite possibly of the most strong stable coin that we have in the market at the present time.

[RILWAN]

If USDT is going to be a problem it should have happened before Luna and FTX, later Tether was audited and they drop proof of reserve too, that's what I read online but I will be surprised if something happened because right from day one all eye is on USDT and Tether.

The biggest fear in the crypto market right now is the proof of reserve being peddled by may projects, I think this will easily deceive newbies into trusting some of these scam projects who may present or publish a fake proof of reserve balance, just to lure investors into investing in their scam, just like Luna and FTX did.