USDT Tether Scam Busted? The father of all scams?

The Father of all Scams, Tether, Busted?

The price of USDT has fell to a low of $0.96 is continuing to fall as trader are buying any cryptocurrency in exchange for Tether or USDT, which also brought a rally in major cryptocurrencies. Bitcoin broke $7000 on Binance and Ethereum $228.

 

Is the Scam Busted? Are exchanges taking down USDT?

Exchanges like KuCoin have already suspended USDT trading. The firm tweeted recently that it has suspended all withdrawals and deposits for Tether, later allowing USDT transactions again in 4 hours.

 

 

Why are traders worried about Tether?

A majority of traders argue that Tether is “not actually” backed by actual dollars. The company has failed to provide any evidence of its holdings to the public.

Some argue that Tether is related to Bitfines. Nouriel Roubini recently tweeted that the scam is starting to unraveḷ

 

Are you still holding USDT? Let us know in the comments below.

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10 comments

  1. USDT all sold last week!
    What is the need for a ‘suspect’ stable coin when many exchanges offer FIAT to hold.
    Stable coins need to be regulated and have clarity for us to ‘trust’ them. Show us your bank accounts BitFinex … I mean Tether!

  2. USDT is a scam enabled by Omni. Omni is a scam enabled by Bitcoin. Bitcoin is a scam, dependant on Omni for its success, and, devised by the “man in the middle”.

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