Today on CTP, we will be discussing whether or not a Tether collapse is on the horizon - everytime we examine Tether more closely, new information is brought to light. Crypto traders and investors use it for . Its price plunged $1,458 in less than an hour. Tether has been the cryptocurrency dominating global headlines in the past week following a report exposing the games it has been playing with investor money. Their deadline was prolonged for them to turn over their financial paperwork for cross-check by the magistrate. Tether is the largest stablecoin by market cap, and, along with USD Coin and Binance USD, they account for almost 87% of the total $169.5 billion stablecoin market, according to CoinMarketCap. Breaking below $28,000 this week could trigger a second down leg. Tether is a controversial cryptocurrency with tokens issued by Tether Limited. Tether is a stablecoin which is designed to be worth $1.00. Should Tether collapse, via government crackdown or a run on the Tether bank, the prices of Bitcoin—which, as of this writing, has a market capitalization of more than $639 billion—and other . . The fact of the matter is that unregulated, Wild West banking systems not only *can* collapse, but (historically) almost inevitably do so on a time scale of one or two decades at most. Reasons are pretty simple. Terra's . Tether suffered its biggest drop in over a year as the stablecoin broke its peg and dropped as low as $0.945. Two years ago, Bitcoin ran up to $19,891 and then collapsed to $3,200. Despite the panic, however, Tether . The collapse of the LUNA token and the UST stablecoin has turned the attention of the crypto market fully on the Tether stablecoin. Following Terra's collapse, the $81 billion Tether stablecoin began to . Tether , the world's largest stablecoin by market capitalisation, showed signs of losing its dollar peg in the wake of the collapse of Terra's UST stablecoin. The Bitfinex exchange was accused by the New York Attorney General of using Tether's funds to cover up $850 million in funds missing since mid-2018. It's usually not good news for Tether. And this in the 19th century when things in general moved much slower. At any time, Tether has the obligation to redeem USDT tokens for dollars. TerraUSD, an "algorithmic" stablecoin that's meant to be pegged one-to-one with the dollar, plunged below $1 this week. . A few days ago I'd seen exchanges using USDT have BTC prices that implied tether was worth about $1.08. During this time, USDT crypto faced a massive sell-off as the investors preferred other stablecoins. And in May 2013 the creator of a proto . 8:31 - My thoughts *None of this is meant to be construed as investment advice, it's for entertainment purposes only. 2:14 - What is Tether used for? MICHAEL HSU: So I think the Terra Luna collapse has revealed a number of things, but I really want to focus on three. I highly doubt it." Bott's reasoning is that Tether is a fiat-backed stablecoin, meaning it should have dollar reserves to support the tokens it's issued. A collapse of the Tether stablecoin would be crypto's "Lehman Brothers moment," according to an analyst from GlobalBlock. The collapse of Terra can be . For example, if on an exchange 1 USDT suddenly drops to $0.99, then an arbitrageur can buy it at this "low" price and redeem it directly in Tether for $1, earning a quick risk-free return of 1% ($0.01). For example, up until 2017, Tether and Bitfinex had always insisted that there wasn't a relationship between the two companies, with Bitfinex CEO Phil . A collapse of the Tether stablecoin would be crypto's "Lehman Brothers moment," according to an analyst from GlobalBlock. Answer: Tether is generally used as the to-go stablecoin for exchanging Cryptocurrencies. At times of high volatility of crypto prices, Tether provides a 'stable' asset. Tether collapse inevitable? Having traded at around $80 on Friday, LUNA has since plunged 95% to $2.50. Answer (1 of 2): Tether is a pretty shady coin thats been used to prop up the btc market for the last few months, and there's every right to be concerned about it imploding. Tether Limited formerly falsely claimed that each token was backed by one United States dollar, but on 14 March 2019 changed the backing to include loans to affiliate companies. In the midst of a market-wide collapse, other coins appear to be in peril. In the case of the US Dollar, one tether is worth approximately $1.00, with minuscule daily fluctuations. The Financial Times reports that the Tether Foundation, the issuer of the USDT token, has some of . Tether is the world's biggest stablecoin and is widely used . Did you confuse this with them offering a 30% return to hold. But the price has stabilised, with its chief technology officer telling holders that the currency continued to support redemptions. The eventual collapse of tether will eclipse the UST crisis by a thousand times." But the market would disagree. https://discord.gg/wye2Kt2https://twitter.com/BobbySibertThere are a LOT of reasons to be skeptical of what is happening with Tether, which I will just begin. UST is a high-profile stablecoin that reached a marketcap of $18bn before collapsing 50% within days. Tether seems to have become a digital version of fiat that can be printed by the issuer at will. Tether is not under investigation by the New York Attorney General (NYAG) for its security status, but rather for committing fraud and making false claims. Zhao Dong, a prominent Tether trader in China, is serving three years in prison there for using the currency to launder $480 million for illegal casinos. Many analysts and cryptocurrency . Now it's about $1.00, but they still aren't registering new accounts to buy it with. "Will it collapse? A Tether collapse could be devastating for the entire crypto market. Having traded at around $80 on Friday, LUNA has since plunged 95% to $2.50. Tether has made headway by giving customers the ability to transact with traditional currencies across the blockchain, without the inherent volatility and complexity typically associated with a digital currency. Tether Collapse Could Bring Bitcoin Black Friday Oct. 04, 2018 10:31 AM ET Tether USD (USDT-USD) BTC-USD , COIN-OLD , GBTC , EOS-USD 44 Comments 9 Likes Hans Hauge Tether is bound to collapse soon and will likely take the whole crypto market with it. For Tether, this arbitrage mechanism is to allow market participants to convert 1 USDT into $1 and vice versa. There is no doubt in my mind that Tether is as scam, they blatantly lied that they had USD cash backing of 100% of Tethers, their recent amateurish pie chart reveal of assets was a farce, no doubt these bond assets were created out of thin air, just like the Billions of Tethers they regularly print whenever . Tether, the world's biggest stablecoin, also temporarily "broke the buck" on . By Steven Msoh 13. US Corporations' September 30th fiscal payment deadline Sep 30, 2022 USA Each year around that time, as the payment deadline approaches, we see all sorts of maneuvers. UST is a high-profile stablecoin that reached a marketcap of $18bn before collapsing 50% within days. TerraUSD's crash transpired an unprecedented level of scrutiny on DeFi's financial mechanisms and inevitably brought the feasibility of algorithmic stablecoins into question. USDT is also included in Curve's 3pool-a stablecoin liquidity pool that acts as the liquidity for other crypto protocols representing billions in market cap. Tether, by . Yes," he said. The collapse of Terra (UST) sent shockwaves through the crypto market this week. UST, which is supposed to trade at $1, is currently trading around $0.50, according to data from FTX. At the time of publishing, Tether's USDT market capitalisation was at $73.21bn after an all . Apr 13, 2022. Again, if Tether's assets are stored in the United States (reportedly for 2019, at Signature Bank and Noble Bank), then [this is . 1:17 - What is Tether? The circulating supply of USDT is falling fast. Tether has paid out over $10bn in withdrawals since the start of the crypto market crash in early May. The most popular one, Tether, launched in 2014 and is pegged to the dollar. Tether and Bitfinex have eventually delivered their paperwork to the New York Government. The possible criminal charges will intensify the pressure on a product on which the market is relying heavily. The Collapse of Tether (USDT) Tether, created to simplify cryptocurrency trading and conversions, has a 1:1 ratio of the asset it is "tethered" to. . To support a rebound, prices need to close above $32,000 . October 2021. The Bitfinex exchange was accused by the New York Attorney General of using Tether's funds to cover up $850 . Co-founder of BLOCKv and the popular stablecoin Tether said that UST's debacle is "probably be the end" of so-called algorithmic stablecoins. Stablecoins derive . The Bitfinex exchange was accused by the New York Attorney General of using Tether's funds to cover up $850 million in funds missing since mid-2018. 1. One tether token is always supposed to be traded at $1. Tether, the world's largest stablecoin, regained its peg to the dollar after more than $3 billion worth . TerraUSD collapse will 'probably be the end' of most algorithmic stablecoins, crypto exec says. Let's wait to see if Tether USDT ever collapses. the history of algorithmic stablecoins is one of failure and collapse. Following Terra's collapse, the $81 billion Tether stablecoin began to . It's unclear what collateral Gemini holds, but those short positions could get squeezed. If Tether were to collapse would a lot of central exchanges and traders start switching out and the CryptoMarket have a bearish season. It does. Tether claims that consolidated total assets amount to at least $82,424,821,101 - Tether's consolidated total liabilities amount to $82,262,430,079 of which $82,188,190,813 relates to digital . It should never have traded above $1. However, Gemini also has a lot of short positions, and Gemini does not accept USDT. Tether is the biggest stablecoin on the market. . The popular stablecoin tether (USDT) is again the subject of unwanted attention after approximately USD 9bn has been redeemed for US dollars by users in the aftermath of the terraUSD (UST) collapse. Consequently, USDT lost its value in . The US Corporate government seeks to roll over its payments past the deadline. You know, the first is stablecoins are not stable. . New articles on Tether but still relatively few large media outlets covering. But not because traders actually believe that 1 USDT is worth 1 USD, it is because Tether themselves (and probably others with a vested interest in maining the peg, such as Binance) are arbitrage scalping. July 29, 2021 August 2, 2021 William Coleman Leave a Comment on Tether's Collapse Would Be Chaotic, Not Cataclysmic The executive leadership of Tether is facing criminal charges against them. 5-min read. since terra's collapse there has been such a rush of selling across the entire sector that the market value of tether fell as low as . Today, Tether published a new assurance opinion completed by independent accountant MHA Cayman. the history of algorithmic stablecoins is one of failure and collapse. It will recover as another token will take its place. The collapse of Terra (UST) sent shockwaves through the crypto market this week. The crash has pushed another stablecoin, Tether, below its dollar peg hitting as a low of 95 cents. Its collapse could trigger a crypto version of a bank run, potentially toppling exchanges and cratering the price of bitcoin and other cryptocurrencies Tether believes that the only viable stablecoin model is a fully collateralized . Tether has shed another $1bn from its market cap, falling from $75.6bn to $74.1bn in the last 24 hours. This spotlight has revealed a potentially disturbing situation that could affect future Tether price predictions. Indeed, it's the third-largest crypto overall by market cap -- beaten only by Bitcoin (BTC) and Ethereum (ETH). Panic was spreading in the crypto markets Thursday after stablecoin TerraUSD hit a low of $0.30 and sister token luna plunged 98%. "It's an important moment for the crypto industry," Paolo Ardino, chief technology officer of Tether (USDT), the most traded cryptocurrency, told Yahoo Finance between . TerraUSD's crash transpired an unprecedented level of scrutiny on DeFi's financial mechanisms and inevitably brought the feasibility of algorithmic stablecoins into question. It formerly claimed that each token was backed by one United States dollar, but on 14 March 2019 changed the backing to include loans to affiliate companies. UST, which is supposed to trade at $1, is currently trading around $0.50, according to data from FTX. Tether, which is not . The sudden crash meant its market cap dropped from above $40 billion to just $500 million, leading to massive losses for . For every token issued (also called USDT), Tether is supposed to keep $1.00 in reserves. Domino effect of the collapse in Tether, then Bitcoin, could lead to more bubbles popping. The charges reportedly stem from Tether lying about the nature of its business when it was opening bank accounts . Will Tether collapse before 2023? There is widespread fear in the market on Thursday, after the Terra (LUNA) cryptocurrency fell by more than 99 per cent, dropping below $1 on Wednesday having peaked close to $120 last month. 7-min read. May 24, 2022 at 2:32 p.m. PDT. Indeed, in the aftermath of the collapse of Terra's UST stablecoin, Tether has processed $10 billion in stablecoin redemptions. If Tether collapses, then whoever lent those BCH will lose. A prominent economist and investment banker, James Rickards, is sounding the alarm on the imminent failure of Bitcoin and Tether cryptocurrencies. Considering the exponential growth of the crypto industry, the market has been taking measures to de-risk itself from Tether over the past period. The question will resolve positively if any of these conditions are true: Tether (USDT) trades for less than 0.50 USD continuously for more than 7 days on FTX. The infamous 2018 University of Texas study claimed that Tether was responsible for as much as 50% of bitcoin's rise in late 2017, but in 2019, the same researchers changed their claims that were also dismissed by crypto industry players. Tether, is the largest stablecoin by market cap, and, along with USD Coin and Binance USD, they account for almost 87% of the total $169.5 billion stablecoin market, according to CoinMarketCap. Over the past week, the stablecoin's market cap has dropped by over $9 billion as holders rush to redeem their tokens for U.S. dollars. Rickards is a NY Times bestselling author of Currency Wars: The Making […] Tether Price Prediction. But Tether has repeatedly failed to produce a full audit of its reserves, which would help assuage doubts and might dissuade short sellers from betting on its collapse. USDT tokens are involved in half of worldwide Bitcoin . The sudden collapse of Tether, it was long believed, could disrupt global crypto trading and harm prices, and hostility to Tether skeptics was often seemingly as much a display of Pavlovian fear . On 12 th May 2022, crypto markets crashed as the Bitcoin price dipped to the $24,500 level. Since the beginning of 2020, USDT market capitalization increased nearly fivefold, from $4 billion to $19 billion by the time of writing, meaning that over 15 billion coins were injected into the cryptocurrency system in less than 12 months. Will Tether collapse? According to a new report from Bloomberg, an investigation by the U.S. Justice Department is weighing whether criminal charges should be filed against executives of stablecoin issuer Tether. Co-founder of BLOCKv and the popular stablecoin Tether said that UST's debacle is "probably be the end" of so-called algorithmic stablecoins. They said they hold 30% of their reserves in commercial paper (but plan to reduce that). Tether's 5% deviation from its $1 peg is particularly jarring right now because of what just happened with rival . Tether is a controversial cryptocurrency with tokens issued by Tether Limited, which in turn is controlled by the owners of Bitfinex. If the 3pool collapses, the entire Ethereum decentralized finance . Imagine if you were at a . Bitfinex simply is NOT Mt Gox. The stablecoin is the most traded crypto by volume. He warns that Bitcoin is built on fraud and will eventually collapse, leaving cryptocurrency investors broke, with nothing of sustenance to show. Stablecoin, Tether's market cap has continued to plummet, losing another US$1 billion, falling from US$75.6 billion to US$74.1 billion in the last 24 hours. I won't trade on any exchange using tether because I'm afraid it will collapse. In the wake of Terra's UST collapse, stablecoin issuers may soon have to grapple with stricter auditing protocols as investors look for more clarity . There are a lot of BCH shorts, and the collateral backing many of them is USDT. Tether works to disrupt the conventional financial system via a more modern approach to money. But tether's issuer claims it is backed by cash, U.S. Treasurys and corporate bonds. Tether, a so-called "stablecoin," is in trouble. One popular analyst, Crypto Whale, took to Twitter on Wednesday, saying tether's . Will Tether collapse before 2023? However, it cannot crash the crypto market Mt Gox style. Short seller unit Hindenburg even opened a $1-million bounty for specific information about Tether's reserves. While the collapse of TerraUSD rattled many investors this month, one crypto leader sees the fallout as exactly what the industry needed. The world's third digital currency will go down the drain if the regional attorney finds evidence of fraud. The drastic fall has led many crypto analysts to believe that a collapse of Tether is now imminent. Such occurrences could have a . In a year that has seen so many Tether exposés tether's lowest price was $0.9918, less than 1 cent below the dollar. 3:08 - What happened to Tether? It briefly lost its peg to the dollar, trading as low as $0.95, which spiked short-lived fears over the stability and soundness of USDT. Tether's market capitalization plummeted from an all-time high above $83 billion on May 11 to $75.6 billion today. Yesterday I saw it was about $1.05. It's got a market capitalization of more than $60 billion. Also, other studies (including one funded by Ripple) have suggested there's basically no significant . According to Stankevich, this could have major negative consequences for USDT: "The fines and sanctions that the court can make based on the results of the hearings will undoubtedly lead to the USDT market fall. Amid the dramatic events surrounding last week's TerraUSD collapse, Tether (USDT), the crypto industry's largest stablecoin, has dropped more than $7 billion. Stablecoins derive . Tether believes that the only viable stablecoin model is a fully collateralized . Should Tether collapse under the weight of regulation, criminal investigation, or a bank run, it would be a major blow to the crypto industry and to retail investors. The strange nature of the coin goes against simple economic supply and demand. All while Tether has insulated itself from common bank run tactics. Last week, USDT briefly lost its peg as the market experienced a severe sell-off due to the collapse of Terra's UST stablecoin, trading as low as $0.95. Nonetheless, there are many other factors that indicate that a potential collapse of Tether won't have as strong implications as it would have had a couple of years ago. . Layer 2. The question will resolve positively if any of these conditions are true: Tether (USDT) trades for less than 0.50 USD continuously for more than 7 days on FTX. During this bloodbath, many investors ran towards safe havens like stablecoins and fiat. Such gyrations may reflect more than market volatility, says John Griffin, a . But during the early morning hours, it dropped to about $0.95 -- a shocking drop. In "Finance". Now at $64 billion, and the most traded coin, Tether is too big to fail and if it did, it would most likely drag the entire market with it. Tether's USDT was among the few stablecoins that suffered from increased volatility amid last week's wider market turmoil triggered by Terra's $40 billion collapse. Long-term woul. Tether is a bigger indicator of whether the crypto market can stabilize, says Kate Rooney. The sudden collapse of Tether, it was long believed, could disrupt global crypto trading and harm prices, and hostility to Tether skeptics was often seemingly as much a display of Pavlovian fear . Bitcoin may be producing a bear flag just above the $28,000 level. According to the accountant's report, the company . .
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