Everyone should read and internalize this

https://www.singlelunch.com/2021/05/19/the-tether-ponzi-scheme/
I'm not affiliated with the blog in any way, just thought you guys would want to take a look at this. I've always thought tether would bring down the current cycle and this guy sums it up really well.

Any thoughts on this? Personally I was lucky enough to exit most of my positions around when the inflows of tether really spiked, but I could see exchanges going belly up because of something like this (except maybe coinbase due to FDIC).

Knowing this changes nothing, people will still keep making desperate moves.

Jason2021 said:

Knowing this changes nothing, people will still keep making desperate moves.

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+1 people do not want to miss the bandwagon again after they missed out on Bitcoin plus now shitcoins popping up

TheVigilante said:

+1 people do not want to miss the bandwagon again after they missed out on Bitcoin plus now shitcoins popping up

Click to expand...

Yea these are the people who will be left holding the bag, I would hate to have funds sitting (in crypto or in fiat) on Binance when this thing implodes. IMO only safe-ish place to keep easily deployable funds is Coinbase, even with their garbage fees (as long as it's under the FDIC limit).

If you're hodl'ing make sure to move your assets to cold storage.

His blogs are very detailed and also to the point. If it comes true, many lives will be destroyed.