The question isn't "if", it's "when"...
Tether makes 1.4BB in Q1, 2.4BB excess reserves, financial attestation from BDO
- Thread starter GlobalMacro90
- Start date
If Tether collapses goes to 0 it will be devastating for millions of people around the world, especially in places like Turkey, Lebanon, Argentina, Myanmar, and many other countries, which is why I wish for Tether to continue to be successful and hold Tether myself
On a related subject, USDC is slowly melting away, now only $28 B market cap... A company that is backed by the biggest US companies like Blackrock. The market doesn't trust USDC because it might become a crypto stablecoin CBDC?
yes devastation will be huge. It would have been tiny had tether been stopped years ago. The longer this fraud allowed to exit the more devastating the fall out will be if it ever takes pace.
No. The market doesn't trust USDC because it is a product by CoinBase, which has been alluded for for a while now that Gensler would go after (not just the creator of USDC itself). But the whole package...
And it's looking like those fears are quite correct.
Coinbase created USDC with CENTRE and Circle. For those who are not in the know, CENTRE is actually founded by Coinbase.
Now you know why Coinbase can pay out so much bonus bucks for people parking USDC on their exchange (and still make profit).