- This topic has 1 reply, 2 voices, and was last updated 6 months, 3 weeks ago by lamBerticus.
- Sunday, May 15th, 2022 at 16:29 #274192whoTwenty2Participant
Speculation and possible FUD post. Please share your thoughts.
Let’s say a bad acting large institution wants to de-peg tether. How could they do it? I think we all probably correctly assume Tether doesn’t have enough dollars or cash equivalents backing it.
Big institution could buy or borrow 10 billion USDT. Sell it. Cause panic selling that turns into a death spiral? Is this possible?
Let’s say the big institution successfully causes the panic selling. Then BTC falls to from $30k to $10k. Big institution buys 10 billion dollars of BTC (1 million BTC). Then they pump BTC to $100k. Now big institution has a 100 billion dollar BTC portfolio. 10 billion was flushed down the toilet. Another 10 billion invested. They made 80 billion in profit. (If they could even sell 1 million BTC)
The charts for UST (Terra Luna’s stable coin) and USDT (Tether) are looking eerily similar.
UST (Terra Luna former stable coin) 7 day market cap (initial drop \~ 22% in 6 hours)
USDT (Tether) 7 day market cap (9% drop in a little over 3 days). Looks like multiple large sells may be staggered here. Institutional de-risking or the start of something nefarious?
It doesn’t appear USDT has ever had more than \~ 3% dip in market cap. We are currently triple (9%) that drop.
The price of USDT is also looking shakier than it has in the last year. You can see it still hasn’t quite recovered to its normal level.
1 year Tether price
30 day Tether price
Is this cause for real concern or just a blip? Is the same thing that happened to UST happening slowly to USDT?
I’m just a regular moron so please poke holes in this because I can’t get it out of my head.
Also if you haven’t seen this yet, watch it – Coffeezilla’s video \[Exposing Tether – BTC’s Biggest Secret\]([https://m.youtube.com/watch?v=-whuXHSL1Pg&feature=youtu.be](https://m.youtube.com/watch?v=-whuXHSL1Pg&feature=youtu.be))Sunday, May 15th, 2022 at 16:32 #274193lamBerticus
Well if this continues we can test how much tether is actually backed 🤡
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