SHORT TETHER to zero!? USDT now illegal in the US???? New York.NY Attorney General has deemed Bitfinex and Tether illegal in New York State? And why?
ag.ny.gov
I'm relatively new to crypto but Tether and stablecoins are a complete scam? It's like a digital counterfeit US Dollar that's beyond the US regulatory reach? Or not?
If one carefully reads New York's Attorney General - seems like she's passing the baton to other authorities in the US to deal with the matter on a larger scale with a bigger stick? A national or even international stick?
How does one short USDT? Seems like a MUCH better short than the real USD? A fake crypto unbacked USD coin that's not even controlled in the US is a complete and utter joke and yet, its world wide volume beats open source, open code and undelutable Bitcoin BTC?
"Houston, we have a problem in cryptospace. expect massive storms ahead and great turbulence..." "yes, I mean, more turbulence!"
Tether shows the dangers of closed corporate and unaccountable owned coins. Crypto = don't trust humans or banksters, verify". Tether has zero accountability. You have to be totally clueless to use this coin for legit reasons.
Who owns Tether and controls it? If you know the answer to this question, you would not hold USDT or any over unstablecoins.
i am truly amazed to see that trillion of dollars is volume is moving around the planet on a worthless Tether crypto backed by a FIAT is already in big trouble.Tether is apparently backed by billions of dollars that have never been audited! Is this a joke on a cosmic scale?
This is where the US Central Bank and government need to step in and ban all of the "stablecoins" since these need to be back with real FIAT from the Federal Reserves of each country. The US needs to own all *USD* based stablecoins which means investors and traders, will be fleeing away from these highly toxic "unstablecoin"
coingeek.com
I am not actually short Tether because I don't short scams. Too unstable. As this long term chart demonstrates Tether has a nice short squeeze. There's safe ways to cleanly make money. If the US can't figure out how to deal with a few digital counterfeiters of the USD, investors can only speak with their dollars.
On the plus side, two things will happen with the looming and unavoidable Tether USDT crash:
1. The US will have someone to blame. Specifically, the two characters behind Tether. I hope they have a good army because I would not go up against the US Government even with billions of US funds. There's no place to hide in the world. Ask Julian or Edward! LOL Best to always stay on the government's good side because it might take them years but they can't allow this "st
2. All the "unstablecoins" like Tether and other non-sense "BS pegged" currencies are toxic. Stablecoins should only be issued by the various central banks. So the USD stablecoin needs to be the Fed's CBDC
3. Bagholders of toxic BS stablecoins like Tether USDT will move their money to Bitcoin and Ethereum as the King and Queen of open, unmanipulated, crypto with BTC having the lead because of Lightning L2 and its finite supply of satoshi.
Looking forward to truly sovereign government backed, stablecoins from each country. Not sure which one I would trust just yet but it would become clear which countries have their house in order and which are a total farce.
