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Is Tether in trouble?
Canada bans USDT, the USA spies on it — is this FUD or endtimes for Tether?
The recent headlines swarming around Tether don’t sound promising right now.
You’d be forgiven for thinking this stablecoin was about to get crushed under the weight of regulation and everything Tether wanted to avoid.
But is this FUD, when it enjoys being the biggest playa papa in terms of volume in the crypto markets, or should crypto investors have a real reason to be concerned about the fate of Tether?
Why Canada banned Tether
Canada banned USDT from trading on the two licensed exchanges in that country — Coinberry and Wealthsimple.
The alleged cover-up of an $850 million loss, along with news of the stablecoin actually being 50% backed by bonds, not just pure US dollars, and then New York charging Tether execs a fine — sent Canada’s own regulators flying into a rage.
Not that it mattered.
Tether went ahead and printed billions more anyway, citing market demand.
Why are US Federal Agencies looking at Tether?
It’s important to mention that trading USDT and using Bitfinex is banned for New Yorkers already.
