USDT FUD Recurrance
The annual celebration of USDT FUD is showing up once again. Each year, the crypto ecosystem welcomes brand new types of fear, uncertainty, and doubt but some of the kinds are already cliche such as China restricting crypto mining or USDT being targeted by an institution in the U.S.
Whatsoever the reason is, the market has already been ready to experience a deep dump as we march through the election in the U.S. Inevitably, the reaction of the market is a big sell - off once again.
We can clearly see the negative atmosphere in the markets from the uptrend in the US 10Y Treasury yields. The uptrend started on September 17 and the reversal has been non - stop happening for more than a month. Obviously, some people / investors do not want to take the risk of the election, the possibility of recession in China and the growing conflict in the global markets.
When we put things together, the rumor that Tether is in trouble with the the U.S. government does not seem surprising.
Tether on X already denied the report by WSJ over old news being served once again to get attention.
Even in the worst case in which Tether goes through an investigation and is found guilty of something, the firm will be charged for a " small " amount of money comparing the size and the earnings of the company. The barren FUD on Tether is away from causing a long - lasting problem for the crypto ecosystem.
Though, earlier, Tether was the only option available with its massive size, now it takes only one click to switch from Tether to another stablecoin. So, if you want to get away from the risks, switch from USDT to USDC, DAI, or HBD as you wish. Personally, I will keep holding USDT in my bag by disregarding this recent case.
What do you think about the Tether FUD in the market?
Share your thoughts below 👇
Hive On ✌️
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I feel like FUDs like this have lost impacts, it's going to take more than a silly article to move the markets.
It's quite funny that if markets were to react to reports like this, the news would become the very reason people lose money.
Same thing happened with UST, FTX and LUNA would have probably survived if only Coindesk would stfu, comical no?
Of course I'm not defending the crimes these companies indulge in, I'm saying that news framed as "protecting investors by reporting the truth" usually does more harm than good, just look through the SEC's track record for example.