- This topic has 25 replies, 2 voices, and was last updated 6 months, 2 weeks ago by CHIEFdiamondHands.
- Saturday, May 14th, 2022 at 21:09 #273479NXCWParticipant
Cryptocurrency News – USDT is crashing behind the scenes.
Read Here (Article Link):
What are your thoughts after reading this news article?Saturday, May 14th, 2022 at 21:12 #273486PreventableMan
>×The speed with which USDT is getting cashed in means a crash is imminent.
It does not need to mean that though.Saturday, May 14th, 2022 at 21:13 #273481Bucksaway03
The speed in which Its getting cashed out doesn’t mean it’s crashing
Just means people are cashing outSaturday, May 14th, 2022 at 21:14 #273490InanetV
People used stable coins to hide from the volatility of crypto assets like bitcoin. Now it’s the exact opposite.Saturday, May 14th, 2022 at 21:16 #273487FractalGuise
I feel USDT is one of those too big to fail situations. All Bitfinex has to do is call up CZ and ask for a loan.Saturday, May 14th, 2022 at 21:19 #273496Notorious_Ape
It’s been crashing for a while nowSaturday, May 14th, 2022 at 21:24 #273495BlubberWall
If you believe this then short it, these stories and conspiracies are always around and tether is still left standingSaturday, May 14th, 2022 at 21:25 #273491kirtash93
As another person here said. If you are so sure short it and enjoy life.Saturday, May 14th, 2022 at 21:26 #273484Castr0-
Looks like everyone is crashing.Saturday, May 14th, 2022 at 21:27 #273480lovely_sombrero
Well, USDT is “crashing” in the sense that people are redeeming it for real $$$ in quite large numbers. The only reason why that would be a problem is if Tether doesn’t have one $1 in the bank for each Tether they’ve ever minted… And I don’t think they do! But it will only really crash once they no longer have $ in the bank. It is hard to say when that will happen, according to Tether they have 3% of their $$$ on hand. The rest is unknown.Saturday, May 14th, 2022 at 21:31 #273497-Skald
This is a terrifying thought.Saturday, May 14th, 2022 at 21:32 #273483Duxopes
To be honest if USDT fails, are we really surprised by this? Binance always has busd to fall back on.Saturday, May 14th, 2022 at 21:40 #273494Independent-Ad4660
If tether goes down, crypto is gonna get blown back to the stone ages in the immediate future. After it’s implosion, we’re going to witness one of the largest face melting bull runs in certain projects that crypto has ever seen.Saturday, May 14th, 2022 at 22:07 #273499Calbruin
It’s going to crash at some point, it’s enviable. They’ve never proven funds.Saturday, May 14th, 2022 at 22:18 #273482002timmy
Golly, if tether crashes, the subsequent crash will give me the opportunity to become a whole coinerSaturday, May 14th, 2022 at 22:25 #273485OpeningAd9633
i wouldnt be surprised if blackrock was trying to kill the stablecoin market to gain the market share for USDCSaturday, May 14th, 2022 at 22:28 #273500semo_w
I’ll bring the popcornSaturday, May 14th, 2022 at 23:02 #273488randysailer
No it’s not you can redeem $1 in cash straight from teather for 1 usdt what the price is on the markets is irrelevant thats just what people are trading it at.Saturday, May 14th, 2022 at 23:02 #273492thatkidhrb
It’s easy to prop up a system when the moneys flowing in, the real test is when the money starts flowing out. I guess we’ll find out who’s really doing what they say they’re doing and whos doing shady stuff behind the scenes.Saturday, May 14th, 2022 at 23:11 #273501UJ_Reddit
Isn’t this kind of expected? Stable coins felt untouchable and now they are rattled. So people are selling USDT and choosing something saferSaturday, May 14th, 2022 at 23:27 #273504CHIEFdiamondHands
Government is taking down stablecoins, to pave way for government stablecoin. Bet…Saturday, May 14th, 2022 at 23:36 #273493PurplerRain
I see this post every year. Tether has been dead or dying 824 times.Saturday, May 14th, 2022 at 23:59 #273502Fuglypump
UST market cap chart is basically parallel with the decline on Tether’s.Sunday, May 15th, 2022 at 00:04 #273498c3p0u812
Nothing is happening behind the scenes. Just stop it. You people would suck start a harley for karma.Sunday, May 15th, 2022 at 00:08 #273489olihowells
Damn the fud is ramping up. It’s not easy to redeem usdt for usd, they charge a fee of $150 to sign up, the minimum you can redeem at a time is $100,000 and charge a fee of 0.1% on returns up to $1,000,000 in size.
This means there’re big scales of economy when redeeming usdt, the fee for redeeming $1,000,000 is the same as the fee for redeeming $10,000,000.
The only way that people with less money can cash out is selling usdt. With the ust fiasco tether fear has come up again and people have started selling, you can see this by looking at the usdt price in the last week. When more people are selling the price goes down, this is when the whales start buying usdt and swapping it back to usd for a profit.
So it’s not necessarily that whales are cashing out usdt but people in general are cashing out of usdt, for obvious reasons.
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