What would a Tether collapse mean for the market?

[Anonymous No.25569892]

And specifically LINK?

[Anonymous No.25569919]

>>25569892
the cuck down

unironically

[Anonymous No.25569969]

>>25569892
a -10% dip for like a week and then business as usual

[Anonymous No.25569986]

How many times does it need to be said a tether collapse will absolutely decimate crypto in the short term? We’re talking most exchanges going down and every coin dropping 50%+ in minutes. Chains will be so clogged no one will be able to move. It’d be really fucking bad. Whether or not it’ll happen is the Q right now

[Anonymous No.25570040]

>>25569892
probably nothing seeing how many stablecoins there are now. Well I shouldn't say nothing it will probably be no different from what happens when whales scam wick people with stop losses, or maybe set the market back a month. BTC, ETH, LINK, and all these other coins don't suddenly lose value when the thing people sell into collapses. But I can tell you're new and I'm feeling generous today, here's a hint; tether FUD is always bullish, no exceptions

[Anonymous No.25570043]

>>25569892
LINK is kill regardless

[Anonymous No.25570604]

>>25569969
Basically this.

Gonna fuck up Curve and Yearn especially for a little while but they will recover, stable coins are still huge for crypto. Tether would boost the demand to DAI which in turn would pump ETH.

Fuck Tether, its death is overdue.

[Anonymous No.25570708]

If it was a genuine threat, big businesses on the inside wouldn't have a huge holdings of Tether. Most of the fud surrounding Tether is completely baseless and comes from a place of misunderstanding the minting process. People think Tether prints tokens for free, without understanding that tether mints these tokens when exchanges need them, and the exchange pay for them with USD. The only way they could potentially fraud Tether is through Bitfinex (which owns Tether) but Bitfinex only represents a fraction of the Tether in circulation and a fraction of cryptos overall volume. So that conspiracy theory doesn't really worry me.

The only fud worth thinking about is whether or not Tether the company is using their USD treasury to speculate, which is a question that can be asked of every centralised company in the space that holds funds.

[Anonymous No.25570817]

>>25569892
The only people affected if USDT disappeared would be all the shitcoin traders.

Dunno about LINK. Maybe it's become important enough for people to hold it on its own merits.

[Anonymous No.25570914]

USDC pumps to $2 within the hour. Anyway the tether FUD was way worse in 2018 and nothing happened. If anything kills the market this year it's the SEC

[Anonymous No.25571027]

>>25570040
Lool the hopium

[Anonymous No.25571350]

>>25571027
It isn't hopium it's just the facts, but you would know this if you were here to see the EXACT same fud last cycle newfag. Do you have any idea how many years the tether fud has been around? It was old when I got here

[Anonymous No.25572037]

>>25569892

if it's a slap on the wrist (7-9 figures fine) it's all good, they can just print more USDT and bail themselves out the fed reserve way kek

if AG decides that they have been doing fractional reserve lending, (they don't even have banking charter) at the same time backing up the ponzi by buying BTC (yes, pumping up it's price at the same time) with their newly minted tether...then worst case sceario is total freeze of operations.

I'll be intrigued if they had 1:1 backing and there are not too many players who can provide 21bn USD on a whim (spoiler CCP). Then this case would have geopolitical dimension and it would make sense for fking up CCPsponsored liquidity provider

[Anonymous No.25572356]

>>25569892
The whole crypto market would collapse with it, including LINK.
Tether has been used to pump BTC. A collapse in USDT would shake the confidence in the crypto market. And if there's anything institutions don't like is to lose clients' money, so they would dump all the BTC they have.
Historically, every time BTC crashes, it drags the whole crypto market with it.

[Anonymous No.25572667]

>>25570708
>People think Tether prints tokens for free, without understanding that tether mints these tokens when exchanges need them, and the exchange pay for them with USD.
I wonder what exhange ”unknown wallet” is.

https://mobile.twitter.com/whale_alert/status/1346585742613630976

[Anonymous No.25572912]

>>25569892
Most exchanges would just go dark and it would delegitimize the space. It would unironically end up being about "the tech" and we'd all die poor because of it.

[Anonymous No.25573069]

>>25572667
The exchange doesn't pay 1:1 for Tether. The exchange uses Tether to acquire crypto from Tether Bears which they then sell OTC for fiat. This has been the scam for nearly 3 years and has been necessary since Bitfinex lost everything in a hack and went "store credit only" with their IOUs that started the 2017 run because people could only go long with the IOUs.

The long term hope is that enough fiat comes in to make Tether less significant so it can die quietly at a future date but every time that gets closer, the exchanges get big eyed and ramp up the scam to gather up some crypto and cash out some more. It's all very gay.

[Anonymous No.25573180]

>>25569892
BTC insta pumps to 100k.

I keep loading up more ARPA as a side.

[Anonymous No.25573527]

Should we sell everything before 15? (Serious)