Tether has a bad reputation. They weren't able to comply with EU rules, which also mean that they play dirty game but so far, nothing has happened, which gives me a sense that they know what they do and it's not late to change reputation from bad to good.
To be honest, I thought that not complying with EU rules would affect it globally but it didn't and it's strange for me. USDC has been here for a long time, they are one of the best stablecoin and still USDT more than 2 times higher market cap.
Non-compliance with local regulations does not necessarily mean foul play (i.e., it most likely suggests it, but does not automatically prove it).To be honest, I thought that not complying with EU rules would affect it globally but it didn't and it's strange for me. USDC has been here for a long time, they are one of the best stablecoin and still USDT more than 2 times higher market cap.
EU rules just came later.
On the other hand, EU bureaucrats are excessively trying to overregulate the industry.
I don’t think anybody cares at this point. Tether’s marketcap used to be below $10 billion or something. In a week it doubled. I freaked out. I thought that was the end of crypto because somebody was printing usdt out of thin air. I was wrong. Nothing happened. Stable token marketcap is now what? Multiple hundred billion usd and growing. It will be over a trillion before you know it and btc will be at $1 million.
Tether has been faking its audits… You call that news? Sky is blue and water is wet.
USDT’s market cap was $10 billion in August 2020 Tether has been faking its audits… You call that news? Sky is blue and water is wet.
now the capitalization is 165 billion dollars
(I think this is not your mistake but Google Translate's.)