I read online that A US court have ordered USDT owner Tether to disclose the reserves backing its stable coin, this is the largest Stable coin in crypto space presently and this doesn't sound like a good news to me, is this the great crypto collapse in play or I am just think way too much? This freaks me out.
it all depends if they are truly up to their words and are backing up their stable coin or they were all lies and we're going to witness a big downfall for crypto, it might be the latter because I don't really believe that USDT is %100 backed by us dollars, I somehow can't trust them, that's why I don't hold USDT anymore.
Pretty much like that. When tether gets audit and that's the same like gambling for the reputation of tether. if tether has been always using the fake data and there will be so many parties will be blaming this token. Im thinking about the possible worst scenario for this case.
We know that if tether was not fully backed by fiat money but it was combined with various assets in the market. So, this may also become a boomerang for tether