Nonetheless, what happened with USDT is the fact that something shady is going on and people should really be careful holding it.
USDT's market cap has fallen by almost $500 million in the last couple of days, and its price is still slipping down towards $0.96. Meanwhile other stable coins have seen a significant boost - GUSD's volume went from 29 thousand to 2 million in 2 days, and peaked at a price of $1.19. TUSD went from a volume of 12 million to 73 million, and peaked at $1.15.
All because they wouldn't do an independent audit, and I think we all now know why. Time to exit this coin.
USDT is losing it, people are getting to bail out from it knowing there is a lot of shady things going on and the earlier they do so the better for them, and in that case, they are moving to more trusted stable coins in which they would not have to keep having sleepless night about a tether that can just implode one day.
So many exchanges are beginning to consider delisting USDT, there is a huge call for auditing with the team doing nothing about that, and there is no element of truth and integrity, to even be able to trust holding USDT, then why would anyone want to take such a chance of losing their funds in the end?