[striped_sweater12Participant]

For those unfamiliar or in disbelief, please watch this video and read this article:

[Coffeezilla video explaining the Tether Fraud](https://www.youtube.com/watch?v=-whuXHSL1Pg)

[Article on when Tether willl collapse](https://medium.com/coinmonks/why-tether-usdt-hasnt-collapsed-yet-and-when-it-will-e2a36ae7b8ed)

Even back in 2017 the New York Attorney General investigated Tether and reported that they have never been backed 1:1 by USD. That was back when Tether’s market cap was $2B and now it’s $65B! The company is run by a bunch of fraudsters and it’s so obvious what they’re doing! They print tether out of thin air (no one is actually going to them and trading USD for tether to the tune of billions per week), and use it to buy up BTC, altcoins, and other speculative assets. They only have fractional reserves and are gambling with the money given to them! If everyone went to redeem their USD from Tether, they would collapse like FTX did.

In essence, they are 10 times worse than the fractional reserve banking system we’re trying to get away from. Why are people using this? Why are “respectable” big players like Binance and Coinbase and others allowing their clients to trade with this? How did this become the de facto stablecoin?

Now you may be thinking, “how would the collapse of Tether hurt the rest of the crypto industry?” It’s because the assets they bought with their printed-out-of-thin-air coin is largely in BTC, ETH, and others and they are *lying* about those holdings. As people go to redeem their tether, Tether will be forced to dump their holdings (BTC, ETH, etc) for USD to give the redemptions. We’re talking billions of dollars of bitcoin being dumped on the open market. Prices will collapse unlike anything we’ve seen in years.

This all needs to stop. Please do not hold onto USDT, you may lose your pants. This beast needs to be pulled down. How can we get the exchanges to stop enabling this fraud? Do we need to call for SEC investigation and regulation?

[BlubberWall]

I keep hearing this same song and dance and tether keeps surviving massive market changes. If it will crash, then why not short it yourself

[exodus3252]

I’ve been hearing this same tether blowup shit since 2018. It’s like listening to religious zealots claim the world is ending every other week.

[Jabanger]

Another day another clown with tether fud, always over the last several years 2-3 times a day lol

[abbeyeiger]

Load ze tether fud!

[Kappatalizable]

This is why I 125x leverage long BUSD. If Tether collapses everyone is going to migrate to BUSD and it will pump in price. Big brain move right here

[nthgen]

Tether survived the last crypto winter and it’ll survive this one as well.

[Odysseus_Lannister]

At this point tether has outlasted many other seemingly more “legit” products. The skepticism has been present since 2016 at the very least and yet, they’re still here every year and maintain their peg.

[002timmy]

I’d be curious to know how many individuals/retail hold tether. My guess is if tether collapsed, centralized exchanges and on/ramps would be fucked, but individuals would be alright (as far as holding, would be a chain price affect)

[Fritz1818]

The incentive here in the crypto community is to keep this ponzi token going as long as possible because if Tether implodes then it’s going to be like 20 FTX’s going down all at once lol

[turnophrasetk421]

Cause it. Ponzi and they think they can make bags before they left holding the shit

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[pcmasterrace4201]

Babe wake up, tether fud.

[bny192677]

The day tether collapses would be a bad day for all of ua

[TabletopThirteen]

Tether has been around for almost a decade now and has survived every single market collapse. That’s why people trust it and use it. It’s been attacked several times and still is around. Coffeezilla isn’t right about everything. But he’s right enough to get people’s entire trust about him. I watched his safemoon specials and while he was right about some things, he was wrong about most.

I personally use tether because it’s standed the test of time. I don’t choose USDC because it’s owned by Blockrock and want nothing to do with them because of that. Either way it’s not the best idea to keep everything in stables anyways

[Electrical-Lead5993]

Shocked it hasn’t happened yet

[RCBT88]

At this point nobody knows what will blow right in your face and what not.

[Wubbywub]

if you look at marketcap of stablecoins, the others are creeping up to tether, so I wouldnt say its gonna cause an extinction-level wipe if tether collapses

[rhythmchef]

Taco Bell is also a ticking time bomb, but that doesn’t stop me from eating it…

[Maxx3141]

The ticking time bomb that keeps ticking while all the “fundamentally strong” projects keep exploding…

Don’t get me wrong, but I’m hearing this exact same narrative for 5 years now.

[wildrabbitsurfer]

bitcoin cash made a video about blockstream,

tether is protected by the exchanges and by blockstream

[jdperro]

I started buying usdc now but I’m confused

[lordcolorado]

RIP

[gagawithoutLady]

It’s casino chips, as long as the casino remains open, the chips remain in demand

[Harold838383]

It may be dodgy but it’s secure as shit. Survived a huge decrease in market cap earlier this year in addition to a depegging scare

[Author]

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