The fear of Tether collapse

[mu_enrico]

Tether has been depegged since May 12, following UST crash, and cannot fully recover even since.
As seen from the graph:



It looks that the value will be down further.

However, Tether claims it is a "coordinated conspiracy" which trying to take USDT down.

What do you think? Is this really only a conspiracy theory, or USDT will meet the same faith as UST?

[gurunanakji777]

Tether is quite strong and widely used as compared to other stable currencies. We certainly don't know whether it was a conspiracy or not but I heard several times on other forums also tether will collapse but to date, it did not happen. Tether is down 0.01% in the last 24 hours it is traded on 0.9989$. I believe it's not a big difference as we all know there are some sellers always in haste to sell so they mostly pick the current buy order and many of us always wanted to buy at cheaper value but if it goes below even 0.99 then panic will certainly there. I also believe rumors help the big players to generate profits and we should not panic.

[Master107]

USDT is different from UST. USDT is the first created stable coin and use popularly with equivalent value of 1 USDT = 1$. UST is  devastating (TerraLuna issue).

I don't see any serious case to relate of the coming tether collapse. Maybe just a conspiracy.

[TopT3ns]

USDT is different from UST. USDT is the first created stable coin and use popularly with equivalent value of 1 USDT = 1$. UST is  devastating (TerraLuna issue).

I don't see any serious case to relate of the coming tether collapse. Maybe just a conspiracy.

UST is indeed very different from USDT but the concept is almost the same, namely developing a stable coin, UST can collapse like this because the founders of UST are influenced and don't care about suggestions from other people who seem arrogant so this is what makes UST collapse and be attacked by many whales.

[Alcor]

Tether (USDT) is the third largest stablecoin by capitalization among all cryptocurrencies. It is one of the earliest and most sought after stablecoins. I myself use it often and have no complaints. What happened to the UST stablecoin casts a shadow over all private stablecoins.
I don't think anything bad will happen to Tether. This is just the usual reinsurance of its individual users after problems with UST.

[Jaephoenix]

Right now, every stablecoin is being tested and under the microscope, since the Terra fiasco. Even law enforcement in the US and other countries in the EU are taking hard stances on it. The truth is some may fall under the stress test of this bear market. Any stablecoin making it out unscathed now should be trusted almost wholeheartedly

[Ghozrd]

UST is indeed very different from USDT but the concept is almost the same, namely developing a stable coin, UST can collapse like this because the founders of UST are influenced and don't care about suggestions from other people who seem arrogant so this is what makes UST collapse and be attacked by many whales.

That's right, UST fell because of their De-pegging error without any Fiat or gold guarantee, in other words, UST doesn't have any guarantee other than Terra/Luna coins.

If I look at USDT, almost 47% of the current supply is guaranteed by US Treasuries and securities, the company doesn't provide data on how much USD it holds overall, but I'm sure USDT won't make the same mistake as UST.
btw Brock Pierce as founder of tether is director of Bitcoin Foundation since 2014

[mu_enrico]

Yea, I know people trust Tether because it's the biggest, oldest, and we have a wonderful experience using it. However, the red-flags appear more clearly signalling that we must be aware of the recent situation. For example:



Tether marketcap dropped 10B+ in the past month, at the same time as the depegging event. BTC also drops below $20k, and many stablecoins now experience depegging.