I bring bad news. Tether has depegged

[bartosimpsonio]

The same attack done on UST is happening on Tether

And....Tether kinda is 100x bigger than UST

This looks bad. If you hodl crypto, pray that Tether pegs again in the coming hous. Otherwise it's FUBAR

 

[drehdinho]

USDT is still 98 cent on google search. What do you mean by it being depegged?

 

[Gogol]

fck this doesn’t look good. :/

 

[drehdinho]

Can someone educate me please, cos I’m expecting about $2000 btc. And I plan on converting it to USDT. Then selling it on Binance P2P. Does it mean I might run into a loss or what ?

 

[Gogol]

Can someone educate me please, cos I’m expecting about $2000 btc. And I plan on converting it to USDT. Then selling it on Binance P2P. Does it mean I might run into a loss or what ?

My suggestion is to not use usdt right now. Use busd/udsc may be. Also, p2p prices are great right now. My friend got 15inr more than usual today morning. Should be the same for other countries as well. Go for it lol. Don’t wait.

 

[NirvanaWolf]

fck this doesn’t look good. :/

Fuck this shit. Sell your house in Kolkata. Let's move to the himalayas together.

 

[DamoHG]

Call me crazy I just bought some LUNA at $0.033 expecting it to go to zero, money I can lose.

If there are signs of Tether doing the same Bitcoins price will explode (presuming USDT trade is not halted)

 

[Hawkeye Digital]

Now its deplaning me , Hence if usdt goes down , then surely Crypto would be know as scam soon !

 

[ADA Lovelace]

USDT is still 98 cent on google search. What do you mean by it being depegged?

Basically, If Tether loses parity with the dollar things can get worse.
By the way, right now i would not use USDT

 

[Mr Positive]

If this was GOT I would have suggested walk of shame for you for bringing this bad news.

but is no one considering some kind of conspiracy against the crypto community. I have a bad feeling shit show hasn’t even reached its end

 

[Gogol]

Fuck this shit. Sell your house in Kolkata. Let's move to the himalayas together.

I don’t even have the papers for that. Bank has it lol.

Himalayas is the best though, agreed.

 

[NirvanaWolf]

I don’t even have the papers for that. Bank has it lol.

I wish there was a 'sad' reaction because this sucks. I hope you can close your loan soon so that we can just move our ass to the mountains and grow weed. I am going to need a comrade.

 

[notNewB]

Haven't really looked up these all dumps happening for the last week but something is really wrong with USDT. I don't remember when I saw it at anything lower than $0.999 the last time. Scary.

 

[awesomewebsites]

The same attack done on UST is happening on Tether

And....Tether kinda is 100x bigger than UST

This looks bad. If you hodl crypto, pray that Tether pegs again in the coming hous. Otherwise it's FUBAR

What are the signs of this ? It is not affected in percent rise or gain much in last one hour ?

 

[PinguSpy]

UST is pegged by algo

USDT/BUSD/USDC is 1:1 pegged with usd dollar reserved. It cannot be attack or manipulate.

Unless USDT is printing more ‘digital dollars’ than it currently have.

If you’re paranoid, you can convert it into paxg(digital gold).

 

[shabushabu]

I suggest converting 50% of your USDT to USDC just in case..

 

[TomTheCat]

UST is pegged by algo

USDT/BUSD/USDC is 1:1 pegged with usd dollar reserved. It cannot be attack or manipulate.

Unless USDT is printing more ‘digital dollars’ than it currently have.

If you’re paranoid, you can convert it into paxg(digital gold).

Don't get me wrong, but only 6.36% is actually cash.

https://tether.to/en/transparency/#reports

 

[sci0n]

fuck sakes. the low was at .94 on FTX. i'm gonna deposit and convert to USD

 

[Pronity]

Tether's backing has a large percentage of commercial papers... a lot of those commercial papers are under China's Evergrande.

Tether even got caught lying by the CFTC about their reserves. They only have 27% (it could be less now) of the days to match 1:1 with the dollar... and that was back during 2016 - 2018.

Evergrande is currently one step away from default and is considered junk bonds in the US.

If the majority of Tether is backed by junk bonds, Tether is going to have a huge problem very soon.

This was researched 6 months ago. Use it for your own judgement, but Tether has been speculated to be unstable for quite some time and with the current market conditions, everything around it is falling as well.

Source:

https://www.reddit.com/r/Superstonk/comments/qr7cow

Everything researched 6 months ago is now coming to fruition.

 

[xReminisce]

This is why I use USDC and BUSD :')
Never trust on Tether !