Will USDT be dead now after UST and Luna ?

[Brickbat1]

Tether will be the undoing of the whole crypto market.No one can escape the contagion effect the day Tether depegs from the USD, even USDC holders will feel the heat even if they survive in the end. It is the unfortunate glue that holds the crypto economy together. Supposing it comes out that Tether is not fully backed, which I believe it is not otherwise they would be open with the info about their undisclosed assets, the fear of contagion with the wider economy may prevent its open disclosure for a long time. We just have to live with it and enjoy the ride while it lasts.

 

[jasonforrest]

Tether truthers

 

[Unreliable Witness]

Tether will be the undoing of the whole crypto market.No one can escape the contagion effect the day Tether depegs from the USD, even USDC holders will feel the heat even if they survive in the end. It is the unfortunate glue that holds the crypto economy together. Supposing it comes out that Tether is not fully backed, which I believe it is not otherwise they would be open with the info about their undisclosed assets, the fear of contagion with the wider economy may prevent its open disclosure for a long time. We just have to live with it and enjoy the ride while it lasts.

Completely agree with this. Any large holder of any coin has no interest in Tether failing, which is why in the short term, holding USDT is probably relatively safe (just not completely safe). Collectively, the community will continue to bury their heads in the sand until either information is leaked about the quality of the assets that Tether holds (and this may never happen if the assets are high quality) or one or more large whales decides the time has come for them to exit from crypto altogether and retire to a Fijian island even if that means draining all the liquidity out of the market to the detriment of other holders.

 

[Traterch]

USDT is a solid project. Don't compare it to luna

 

[jasonforrest]

USDT is a solid project. Don't compare it to luna

Yeah, usually the people who don't know sh*t will compare it to Luna/UST.
We can associate them as being "blind thinkers"

 

[onlinemarketer12]

USDT is a solid project. Don't compare it to luna

It started with USDT and then other ones came in market. When other ones proved to be flawed, USDT can also go wrong.

 

[SpenserReed]

Do you think now the next in queue is USDT because it is also imaginary and not backed by anything ?

I don't think so, because USDT is much more capitalized, and if it collapses, many other assets will also collapse, so investors will protect it.

 

[Deleted member 1595020]

USDT is an Stable currently cannot be dead dont worry because its made to hold money not to spoil money

 

[lotsofmoney]

If USDT collapses, all the investors in crypto will say goodbye to their money. No one will invest in future also.