Ah, the usual Load the Tether FUD. We experience Tether FUD every single time the market looks bullish, so it comes as no great surprise that suddenly Bitfinex is having troubles with the NY AG. It’s easy when these events happen, you just sell, grab coins at a cheaper price, and then ride them back up- all thanks to Tether. USDT works, and it’s verifiably backed by USD. Banks are not 100% banked by assets, so why should USDT be? It’s just the usual market FUD that’s meant to shake out weak hands.
USDT is my preferred trading coin. I never trade crypto to crypto. I only mess with USDT because its the next best thing to cash. I trade from BTC to USDT because I make sure to take profits asap. If you aren’t trading crypto to USDT, then you’re losing out because theres always fees when moving to other coins that youre eventually going to land in USDT.
It's really good to see Tether back on their feet. There was a long time that there was a solid amount of doubt hanging over their coin, but it seems after proving that they do in fact have money in their bank accounts they can continue as normal. Their recent partnership with TRX is also another big win, proving their legitimacy and their overall involvement with another huge project. Tether is still better than all the other stablecoins because it is known in the ecosystem, and everything else is just a fad.
Well, Tether found a new avenue to get hype around it again. Partnering with TRON was a mega move on their part. I can't believe other projects haven't thought about doing this. Tether and TRON are going to moon from this partnership.
Like most, I think Tether is holding the market back. It's been tainted by too many controversies and we need a reset. There are many legitimate stablecoins out there and I don't understand why Tether holds so much sway in the market still. Crypto Winter didn't flush Tether away, it actually made it stronger.
At one time, USDT could have been a great first for the market, and it really helped save money and gave time to think about how to act.
In the long run, the decline of Tether may positively affect the cryptocurrency market, as this is going to force investors to more closely consider options with Gemini Dollar, Paxos and TrueUSD.
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