Only reason tether would go down is if there is a run

This market is showing no signs of wanting to run for cash out. Tether Fudders wrong, we're going up.

Keep on reassuring yourself baka
buy more crypto and keep it secured on exchanges

yeah. not crashing at all.

Hey dipshit. All this market needs to crash is one major world government to ban or declare/accuse Tether of being or engaging in illegal activity to bring the whole crypto market down with it.

The market mostly pumped because of those slimy faggots creating artificial demand and selling massive amounts of USDT to the exchanges whilst filling everybody into believe that their fake IOU's were and are pegged to the U.S. Dollar at a 1:1 ratio.

As soon as the United States government or some big financial institution gets to the bottom of the company or people behind Tether and finds any signs of illegal activity, the market is OVER.

Keep your eyes open. It's gonna be hard to time when the crash will begin, but I wouldn't doubt the possibility of it happening before the end of the year.

Now with that being said, will the market recover? Most definitely. A lot of the current cryptocurrencies and tokens on the market are releasing their products and use cases this year. We will see widespread adoption and integration into the mainstream within these next couple of years, but we will see a correction at some point around then too.

Keep. Your eyes. Open.

It happened yesterday. Tether is exposed. It’s a (very) fractional reserve. Get out now before institutional investors start moving on Monday morning.

Why wouldn't Tether just have 2.2 billion USD sitting safely in liquid form in a bank account somewhere? Is that not common practice?

They are supposed to, that’s how tether bases it’s value. But instead, they’re counting bitcoin that Bitfinex holds, which is artificially inflated because of tether QE. Basically they hold tether reserves in tether.

>Why wouldn't Tether just have 2.2 billion USD sitting safely in liquid form in a bank account somewhere
They do.

They likely have a fractional reserve, which is a typical practice in banking

They aren’t a bank. Tether is supposed to be backed 1:1 by USD.

Real banks have FDIC insurance and account holders are protected. When this thing explodes, the money is gone.

No they don’t. They have zero transparency and refuse to prove this.

They brought in an auditor. The auditor realized they were full of shit, so they fired the auditor.

Sizeable if valid. They are backing Tether by holding Tether?! Fuck, shady shit. I doubt the market would care if reserves were fractional, say 80% USD, 10% a floating basket of currency, 10% unbacked. But because they’ve made such a point of saying USDT is backed 1:1 by USD, there will be such a run on this. Also super dodgy that they just printed a shit load more of their trash coin right after they fire their auditor. Someone’s exit scamming Tether. Thank fuck I stopped Tethering up to buy dips weeks ago when their printing frequency and amount started to look suspect.

What country does Tether operate out of?

The story of CME updating late checks out. I used the internet wayback machine on their transparency page and their asset total was updated to 2.2billion as far back as the 24th

When is it going to explode? Why will it explode. There is no concrete proof of fraud and absent a whistleblower from inside tether there will not be (assuming they actually don't have the reserves, we don't know. Auditors can cut ties for a number of reasons and accounting of practices vary substantially even if the audit came out clean they may not have them). They could hire another auditor tomorrow and keep the scam going for years.

Market reaction is the only thing that will tank the market and this market does not want to tank.

The british virgin islands

>It crashed from 1$ to .97$
>1 min candles

>3% drop in a supposedly 1:1 backed coin

It looks like a bunch of whales already dumped Tether last night. Which is why there was a sustained buy rally. So they aren't taking any chances.

>I don't understand Tether

Tether has never been 100% stable. But it is worth noting that it's currently at a 6 month low. (but not an all-time low)