USDT is The Most Stable Coin?

[MrSpasybo]

Tether printed 1,000,000,000,000,000 USDT. 

P.S. It's the same as always. Today Tether blocks someone's funds, tomorrow Tether campaign prints (without confirming) millions of dollars. I wonder how long this will continue? I wonder if everything is so transparent. As always, lots of questions = few answers.

Transaction Reference: https://whale-alert.io/transaction/ethereum/0x85de37e425735a04fdea90335fc054ada5b491c2a021755d175731261807282c

Tether has improved its proof of reserves, and we can tentatively believe that Tether has enough assets to back up all USDT on the market. Although we are skeptical, we cannot verify it ourselves. We should focus on our own investment to obtain the greatest profit in the bullrun.

I personally feel more confident about the future growth of the crypto market when Tether and Circle continue to mint more stablecoins because it means that the crypto market has more motivation and liquidity to operate and develop. Honestly, in the past 1-2 years, I am no longer worried about the risk of Tether's collapse because Tether has become an important part of the crypto market and the US economy as Tether is now one of the top 20 holders of the US Treasury.

[NikeFit_7777]

Tether CEO Paolo Ardoino called Bitcoin the only decentralized currency, the main:

1. Bitcoin is the only currency that is governed only by math and whose foundation cannot be changed.

2. Other currencies have teams of developers working on them every month to release new software and change monetary policy.

3. Bitcoin is a certainty as there are only 21,000,000 BTC.

4. USDT is centralized, unlike BTC.

News link: https://cointelegraph.com/news/bitcoin-only-decentralized-currency-paolo-ardoino

[NotATether]

Tether printed 1,000,000,000,000,000 USDT. 

P.S. It's the same as always. Today Tether blocks someone's funds, tomorrow Tether campaign prints (without confirming) millions of dollars. I wonder how long this will continue? I wonder if everything is so transparent. As always, lots of questions = few answers.

Transaction Reference: https://whale-alert.io/transaction/ethereum/0x85de37e425735a04fdea90335fc054ada5b491c2a021755d175731261807282c

You can't be serious!  That is literally one quadrillion dollars. That amount is bigger than all the fiat monetary reserves in all of the markets combined.

How are they allowed to keep doing this? Considering that this is the US dollar they are screwing around with, I'm surprised that the SEC is not investigating them harder and levying severe punishments.

[NikeFit_7777]

Since the beginning of the year, the capitalisation of stablecoins has grown by more than $30bn - almost $20bn of which was accounted for by USDT and another almost $9bn by USDC. USDT now accounts for about 69% of the entire segment.

P.S. Feel free to share what percentage of USDT you have in your portfolio. It's really interesting.

[Freemind]

Tether printed 1,000,000,000,000,000 USDT. 

P.S. It's the same as always. Today Tether blocks someone's funds, tomorrow Tether campaign prints (without confirming) millions of dollars. I wonder how long this will continue? I wonder if everything is so transparent. As always, lots of questions = few answers.

Transaction Reference: https://whale-alert.io/transaction/ethereum/0x85de37e425735a04fdea90335fc054ada5b491c2a021755d175731261807282c

From what I see, Teher doesn't need anyone's permission, especially to border on the ridiculous with acts like this. Why the hell do they want to print that amount?. Because of things like this, many people do not understand and laugh when someone talks to them about cryptocurrencies, the numbers attract a lot of attention. Previous audits didn't give Tether any problems (that I remember), but I don't think they printed as much as this time. The worst part about all of this is that if Tether ever fails (for legal or other reasons), the noise it will make will be very large and it could be difficult to recover from the problems it will create in the market.

[NikeFit_7777]

Tether CEO Paolo Ardoino announced the hacking of a “well-known” email distribution service provider widely used by cryptocurrency companies. He did not reveal its name until the investigation is complete.

Ardoino urged users to be wary of any airdrop offer emails received within a day. Coingecko co-founder Bobby Ong confirmed the information and said he has seen several phishing emails on behalf of the company.

P.S. I've always said and I'll say it again - never click on various (unverified) links. I myself personally, once almost lost money this way. Be careful in general! 

[Baofeng]

Tether CEO Paolo Ardoino announced the hacking of a “well-known” email distribution service provider widely used by cryptocurrency companies. He did not reveal its name until the investigation is complete.

Ardoino urged users to be wary of any airdrop offer emails received within a day. Coingecko co-founder Bobby Ong confirmed the information and said he has seen several phishing emails on behalf of the company.

P.S. I've always said and I'll say it again - never click on various (unverified) links. I myself personally, once almost lost money this way. Be careful in general! 

Yeah, he did mentioned it in his official twitter account about the said hacks, and it's really a dangerous world that we live it. So if someone receives something about airdrops and whatnot, just be careful.

As for the discussion about Tether,

https://tether.io/news/tether-announces-launch-of-alloy-by-tether-a-new-digital-asset-backed-by-tether-gold/

17 June 2024 – Tether, the largest company in the cryptocurrency industry, is excited to announce the official launch of Alloy by Tether, a ground-breaking tethered asset backed by Tether Gold. Developed by Moon Gold NA, S.A. de C.V. and Moon Gold El Salvador, S.A. de C.V., both of whom are members of the Tether Group, Alloy by Tether aims to redefine stability in the digital economy by combining the strengths of a stable unit of account with the security and reliability of gold.

So it's another of their venture and obviously they are again, the prime mover here. As they willing to be subjected to audit if this become so big in the market?

[NikeFit_7777]

Tether plans to target more than $1 billion in investments over the next 12 months. According to CEO Paolo Ardoino, Tether's 15-person team receives “hundreds of venture offers,” most of which come directly from startups.

He said the company is focused on alternative financial infrastructure for emerging markets, artificial intelligence and biotechnology - areas that Tether has already committed about $2 billion to over the past two years.

[NikeFit_7777]

Tether CEO Paolo Ardoino announced a new class of products from the company "after a year of hard work." It will be unveiled on Monday, June 17.

P.S. Are they purposely putting dust in your eyes? Or will there really be something interesting? Who has any thoughts about it?

[NikeFit_7777]

Times Square in New York City has posted a billboard accusing Tether of corruption. Yesterday, Consumers Research launched an ad campaign calling Tether a pyramid scheme and "the new FTX" and accusing the USDT stablecoin issuer of ties to Chinese governments, terrorist groups, drug cartels and human traffickers.

P.S. What do you think about this? Another hype? Or will Tether really be in big trouble? 

[Manna]

I agree with you that it is eternally true that these numbers hold their value no matter how many rains and storms come.  Chances of profit are high if you trade with these coins.  USDT is the most stable currency coin in the cryptocurrency world

[Kemarit]

I'm not sure about the accusations against them, but we have seen that since their inception, there have been a lot being thrown on them like running in fractional reserves like a bank and others.

And yet Tether becomes the biggest stable coin, and maybe the lesson here is that if you are a prime mover, it's hard to remain on top. However, if you can maintain your status then it's hard for them to stop and this is what Tether is now.

I don't think that they have ties with Chinese, but perhaps USDT is being used by gangs in China.

$1.9 Billion Tether Scheme
Chinese police uncovered a $1.9 billion underground banking racket involving the stablecoin Tether (USDT) in the city of Chengdu. The USDT stablecoin was used to exchange foreign currencies. So far, authorities have arrested 193 suspects across 26 provinces.

According to a media report, the underground operations started in January of 2021 and were mostly focused on smuggling medicine, cosmetics, and investment assets overseas. Two major underground operations were destroyed in Fujian and Hunan, and the police also froze 149 million yuan, worth around $20 million, linked to these operations.

https://coinpaper.com/4211/chinese-police-bust-1-9-billion-tether-underground-network

[NikeFit_7777]

Tether, the USDT issuer, has hired Chainalysis's former chief economist “to improve communication with regulators.”

P.S. Looking forward to more “sanctions blockchains”? What do you think about that? Has decentralization already begun?

News link: https://www.theblock.co/post/305253/tether-philip-gradwell-chainalysis

[dkbit98]

Tether, the USDT issuer, has hired Chainalysis's former chief economist “to improve communication with regulators.”

This is Tether making a statement how they will kiss any regulator asses to comply and they will increase chain analytics. 
I think that having Tether token in your wallet is going to be much worse for privacy than having Bitcoin because it is tied to ethereum addresses as tokens.
More assets freezing coming soon for Tether.

[MrSpasybo]

Tether, the USDT issuer, has hired Chainalysis's former chief economist “to improve communication with regulators.”

P.S. Looking forward to more “sanctions blockchains”? What do you think about that? Has decentralization already begun?

Tether is becoming increasingly strong and cautious in its compliance efforts to continue existing and growing. I hope this trend continues and we don't have to worry about Tether fate during this bullrun. The collapse of Tether could be the black swan of the crypto market, and I don't want to face that!

The SEC is no longer as aggressive as before, and both US presidential candidates are showing interest in crypto. I believe the era of hostility towards crypto companies is over, and we are entering an era of acceptance and promotion of crypto to create more benefits for the market and government budgets.