Quote from: jostorres on March 29, 2023, 05:21:04 PM

This has nothing to do with those companies that you mentioned. When they collapse the stable coins can hardly be affected but even if they don't, the stable coins can still collapse in their own if they experience an issue related to the banks or on how they store their reserves like what happened with USDC last time.

So many people are bitter with Tether and said it will go to zero but Tether just proved them wrong. Other stable coins are already collapsing but Tether remains to be strong and I bet so many people already transferred with it. In case Tether fail, I don't think it will make the whole crypto crash. See what happened to USDC? In fact the market have been pumping that time.

Tether hasn't failed yet, because Bitfinex is artificially keeping the $1 peg on the market. It must be doing something shady that will eventually blow off after a deep investigation by the authorities. If USDT goes to $0, the crypto market could either "pump" or "dump" all the way down the drain. I think a huge "dump" would be the most likely scenario, as USDT is the biggest stablecoin on the market. But I cannot say this with certainty, due to the unpredictable nature of the crypto market.

People are better off converting their crypto to USD, instead of a stablecoin. It'd be advised to proceed with caution, especially after the collapse of 3 major banks in the US. No one knows what the future holds, so we can only hope for the best. Just my thoughts Grin