Quote from: |MINER| on Today at 04:32:18 AM

Quote from: JangoUnchained on September 23, 2022, 11:56:53 AM

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.

I think this is good news, because there is some confusion about the background of USDT ie Tether. I think if they clear it to the public as ordered by the US Govt it will shed its shadyness and emerge stronger. On the other hand, if they don't present the right information, I think any restrictions on them will hurt the cryptocurrency a bit.

When any restriction come in markets, it can shows terrible scenario. We have seen similar situations before. Especially when there was confusion about the Lunar Stable Coin USTC. The whole crypto market lost its momentum, fall from $38,000 to $18,000 levels. But if there is any inconsistency then it will be exposed. That's why the team needs to solve this issue quickly. Otherwise, disaster will occur again, which will be very difficult to recover.