The Bitcoin Ecosystem will be hurt much more by Tether's collapse than FTX.

[Sandra_hakeem]

Have they provided any other reason aside from not wanting to get audited by a public facility?

Any reason is enough.  The community should have been stricter.  After all, Tether came to the Cryptocurrency community.  And when a company decides to lack transparency in the Cryptocurrency industry, it should end right there for them.  Other wise, the community and the industry is prone to gigantic failures.  See Cryptocurrency Exchanges using Know Your Customer to steal funds of their customers in the snap of a finger.  See Terra.  See all the other failures, it is like a plague.

Terra!! $40B wiped after building such a traffic-- making it look 'dependable', and that's what people call trust and reliability. Do they really think since tether has a huge market cap, and it's pegged to the USD, without any proper audit, liquidity in it reserves doesn't matter?

I don't defend Tether here and from your reply, it seems you misunderstood me. I only said that the collapses of Terra and FTX as well as pressure from community in cryptocurrency industry and perhaps regulators were big enough, so that Tether had to change themselves. I don't say their stablecoins are safe now but at least something was improved and looked more transparent, something better.

Here, all of us should work a lot more on splitting them in two strict categories.  The worthy and the ones to completely ignore.  A leg in our boat, a leg in theirs.. it sounds like something to ignore!

Reasons why I've never considered trying DCA. We've seen too many rug pulls in the past years already, so if one falls a victim due to the ease, that's on them!

[rdbase]

There has been much speculation when it comes to tether and how it even got to where it is as a stablecoin.
From what I can remember it was created by an exchange Bitfinex but later separated into it's own privately owned company called iFinex.Inc
Just that in itself caused those in the cryptocurrency community to protest its existence.
An incorporated company which came to be from calling it's cryptocurrency Realcoin was a farce of what they believed it's entire ecosystem stood for.
But now look at it.
Unlimited printing of USD out of thin air and with nobody to audit where it all came from.
It makes a mockery of how cryptocurrenies should operate and very well can ruin anything that it has touched.
Including swaps of it from bitcoin.

[Cookdata]

What you are insinuating is but hypothetical thoughts, because we would have to compare history data and we know that both Tether and FTX have different market structures and fulfill different goals in the market.
It's just pure speculation I can say, but I think for one that because Tether has been integrated into the global financial system, its failure would be massive and more disruptive than a scenario of FTX bankruptcy or collapse.

OP is not talking about the market structure, everyone knows FTX was an exchange and centralized one for that matter while Tether is a stablcoin company that claim to peg Usdt token with a fiat currency deposit on the bank but often when they are questioned about their audit, they seems to dodge the question, this has been going on for years and sometimes give reports about the audit but anytime they say this, people don't just trust them to have 1:1 fiat that back the stable coins.

If you recall what happened to FTX, they claimed to have customers fund all in their vaults but Sam and his girlfriend has used customers fund to trade and for other financial investment and at that time, the company was running at loss because it was estimated the exchange has $10B worth of deposits before the collapse. Now imagine if such happens to Tether that is $180b market cap, if they collapse because they don't have customers fund, it will not be a funny experience.

[Hazink]

it's definitely going to affect the bitcoin market. It's a concern that needs to be discussed it's true not false and can't even be seen as FUD, every bad news concerning big name in the crypto space which have to do with crash will affect the market badly and this one can't be an exemption main coins out their are paired to USDT, even with other stablecoins still going to take its place the effect will be felt in the market and be printed to history before we adjust and move over it.