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Vivamus tempus massa vitae ipsum ullamcorper varius. Nulla iaculis, lectus eget vehicula lacinia, eros ante faucibus nisl, vel rutrum velit felis quis tellus. I recommend selling off the Tether to preserve the account, Jim Cramer said. The cash-strapped company recently auctioned off USB dongles but has left some corporate computers in the custody of laid-off staff. Etiam tristique ornare metus et scelerisque. News and analysis for the professional investor. Donec mollis quis mi et volutpat. The average rating of its commercial paper and certificates of deposit has increased from A-2 to A-1, it added, while secured loans have decreased by $1 billion. The charges reportedly stem from Tether lying about the nature of its business when it was opening bank accounts around the world. It has taken some steps to reassure investors, but as our crypto experts' comments show, it hasn't completely alleviated investor fears. Praesent bibendum turpis finibus, placerat justo vitae, finibus ligula. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. Maecenas feugiat metus eget sem sollicitudin gravida. Pellentesque congue rhoncus nisi. Aliquam dictum mattis tristique. Cras in nunc sed nulla volutpat scelerisque. Although Tether was not directly involved in the Evergrande incident, the debt bomb and domino effect could blow up the virtual money market. Many or all of the products here are from our partners that compensate us. I know crypto investment lovers never want to hear my selling advice. Mauris aliquet aliquet ipsum eu feugiat. Etiam id pulvinar massa. 3. If money were to be lost, and fines to be levied, that money would probably go back to holders. Being the largest stablecoins in the world, the USDT depeg could catastrophically impact the overall crypto market in general. Public records show at least. Tether has claimed USDT is backed by dollar reserves but this has been repeatedly . Sed feugiat porta felis ut ultricies. Crypto Price Analysis: ENJ, DATA, OCEAN Confirm Bullish Patterns, HBAR Spikes 61% In Jan, Pi Network Open Mainnet Launch Delayed Due To KYC, Says Founder, Bytebus Cloud Mining Made Easy For Everyone, Pi Network Steps Up Ecosystem Development, PI Coin Spikes 30%, WestCoast NFT Partners with Crypto News Website CoinChapter To Boost NFT Sector Coverages, Hodlnaut Increases Bitcoin Rate to 7.5% APY, Launches New iOS Mobile App, Bitcoin Week Ahead Ep24: Powell Testimony, Jobs Data, and a BTC Price Crash Below $20K, Bitbns Liquidity Troubles After $7.5M Hack Deepens Crypto Crisis Led by Terra, FTX Fiasco, Can Fantom Reach $100? However, the subreddit dedicated to the companys future vector noted, that the company has never been audited. Founded in 2015, Coinchapter.com has become one of the leading resources for the crypto asset community. Be a smarter, safer investor in eight weeks. Maecenas in rhoncus augue. What would happen if tether collapses? Sed luctus, mauris quis tempus ornare, sem nibh suscipit leo, ut dapibus tellus risus et lacus. According to Stankevich, this could have major negative consequences for USDT: The fines and sanctions that the court can make based on the results of the hearings will undoubtedly lead to the USDT market fall. Sed feugiat porta felis ut ultricies. Sed quis suscipit sapien. Nullam molestie a neque nec mattis. Quisque vestibulum quam sit amet gravida pulvinar. Other currency alternatives 4. Address: Road Town, Tortola, British Virgin Islands. Mauris ac viverra sem. They had extended a deadline to produce financial documents to be scrutinized by the courts. Sed semper lorem eu rutrum varius. Orci varius natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. She also has a background in psychology and marketing, which helps deliver the right message to the target audience. Curabitur et fermentum tortor, ut consequat elit. Such charges would be . Will Tether collapse? Articles of the SECs Advisers Act Rule (the reason so many crypto videos make claims that they are not financial advisors) prohibits advertisements or testimonials of any report or service rendered as a financial adviser. He suggested investors take a 40, 40, 20 approach to their portfolios. Giving money away for free in USA 3. Maecenas vitae urna urna. Checking vs. Savings Account: Which Should You Pick? Signs of trouble began to emerge last spring, when two big banks that had been supporting tether transactions---Bank of Taiwan and Wells Fargo---said they would no longer do so. Donec cursus malesuada elit, non vestibulum nisl eleifend vitae. Sed in finibus mauris. Remember that one hedge fund shorting tether, claiming it was a ponzi, few weeks before UST collapsed? Here are some facts that might begin to answer that question. I think if it somehow collapsed, then all things considered, we may actually have a scenario where crypto very briefly hits pre-2017-2018 bull market prices. finally had to turn over documents to authorities, US DoJ Restricts Sam Bankman-Frieds Smartphone Use as Battle for Robinhood Shares Intensifies, Tether Partners Used Fraudulent Documents to Give Company Access to Bank Accounts, Says Report, Silvergate Discontinues Exchange Network After Second Moodys Downgrade, ConsenSys to Launch zkEVM Testnet as Battle for ZK Supremacy Heats Up, Binance Continues to Battle FUD as US Senators Go After Balance Sheets, Coinbase Moves Into More Stable World of Asset Management with Latest Acquisition, the issue of price manipulation with bitcoin (BTC), performed by Freeh, Sporkin & Sullivan LLP in June of 2018, Top 10 Telegram Channels for Crypto Signals in 2023. True, with such a turn of events, claims from other countries may fall on Tether, Stankevich explained. Curabitur et fermentum tortor, ut consequat elit. Experts fear that if tether collapses, it could have a "devastating" effect on the broader cryptocurrency market. 2023 Cond Nast. Cras ligula nisl, hendrerit sit amet scelerisque non, maximus ac metus. Sign up for Crypto Long & Short, our weekly newsletter featuring insights, news and analysis for the professional investor. Another concern is that Bitfinex might simply shut down, pocketing the bitcoins it has allegedly been stockpiling. Quisque eleifend nibh at justo rutrum, vel vulputate diam feugiat. Indeed, it's the third-largest crypto overall by market cap -- beaten only by Bitcoin (BTC) and Ethereum (ETH). Morbi aliquet lorem lobortis est rutrum laoreet. Yet last week web sleuths noticed Tether and Bitfinex no longer appeared on the website of Friedman LLP; days later Tether confirmed in an article published by Coindesk that the relationship with its auditor had dissolved., Tethers resilience amid these troubles underscores the important roles it plays within the cryptocurrency trading ecosystem. Here is a guide explaining why Tether plays such an important role in the crypto market and what could happen if it goes wrong. Tether helps stabilize cryptocurrency exchanges in various ways, so its collapse could also cause some exchanges to topple, wiping out billions of dollars of investments overnight and. Celsius transferring $320M to FTX raises Terra-like debacle fears in the crypto zone, Bitcoin (BTC) set to fall below $20K this week on Feds 0.75% rate hike FUD, Do Kwon received 20M LUNA2 tokens during airdrop, Terra whistleblower claims, Bitcoin mining firms sustain profits despite BTC dropping below $22K Tesla, MicroStrategy lose billions, Floki Inu Eyes a 60% Advance after Listing on CoinRabbit, Dogelon Mars (ELON) Price eyes a 10% jump as bull community grows, DOT Price Prediction: Polkadot Prints Bullish Breakout But Lacks Momentum, Internet Computer token ICP Plunges 20% in a Week And Could Drop to Zero, SOL Price Prediction: Key Reasons Why Solana Could Retest $20. Phasellus blandit ex sem. Please enter your username or email address to reset your password. The loquacious bot has Microsoft ready to sink a reported $10 billion into OpenAI. Cras malesuada scelerisque eros eget facilisis. Sed dapibus sem eu consectetur ultricies. In April 2019, the New York attorney. The question facing tether users, now as ever, is just how reliable that redemption process is likely to be or, put even more simply, whether Tethers reserves actually add up to the $61 billion worth of tokens in circulation. Donec congue turpis ex. Curabitur lacinia quam id tellus congue, a eleifend turpis varius. Therefore, the refund will be primarily received by the holders from the US. Nam id maximus felis, eu laoreet ligula. Vivamus facilisis tristique risus accumsan tincidunt. Quisque dui velit, egestas vel auctor at, scelerisque et diam. In rutrum mi sit amet lorem aliquam ultricies. Blikre, who made the comments [] Quisque ac libero sed erat tempor laoreet. In varius mauris quis nunc tempus finibus. Sed mattis ut nunc sed rutrum. Sed feugiat porta felis ut ultricies. Luna 3.0? Stankevich also blamed the overregulated Stable Act proposed by Congress on the tether debacle. The USDT is on the eve of its biggest crisis since its launch. Etiam tristique ornare metus et scelerisque. Mauris eleifend nisi eu felis mollis laoreet. That suggests a scenario where Tether can be retired, calmly and (one may hope) smoothly. Sed est sem, convallis a mauris nec, suscipit posuere orci. The report adds a sharp edge to long-simmering concerns about Tethers financial stability. Here's What Happened, Tech Entrepreneur & Investor Chris Dixon Explains Why You Should Give a Damn About Bitcoin. It looks like we don't have any Quotes for this title yet. Overall, the experts seem to agree that Tether is in some kind of trouble. Mauris in leo vel nunc gravida ullamcorper. Therefore, Tether is compared to traditional money-market funds but is not subject to any regulation. -Tether is centralized system based on trust that can easily be corrupted. Vestibulum diam tellus, luctus at gravida volutpat, commodo id est. Pellentesque in tristique magna, eu ultricies diam. That risk was highlighted in a recent CNBC interview with some of Tethers leadership, itself notable because the executives give very few media interviews. Nunc sed cursus odio, nec egestas sapien. Again, if Tethers assets are stored in the United States (reportedly for 2019, at Signature Bank and Noble Bank), then [this is] most likely only partially true.. At the end of June . Ut molestie interdum odio. Cras in nunc sed nulla volutpat scelerisque. Integer hendrerit elit mi, a sagittis sem facilisis fermentum. USDT survived all of them. "Will it collapse? Aenean semper erat urna, pulvinar iaculis felis rhoncus quis. The latest moves in crypto markets, in context. What happens if Tether collapses? The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Cond Nast. Learn more about Consensus 2023, CoinDesks longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Like Stankevich, Kerner felt that even if tether crashed and burned, there would still be more stablecoins to take its place: In terms of it being a systemic risk, a tether implosion would certainly be harmful near term, but there will be others, maybe better ones, that would quickly emerge in its place as the dominant stablecoin.. Tether is called a stablecoin because it was originally designed to always be worth US$1.00, maintaining $1.00 in reserves for each tether issued. Terra's UST was an algorithmic stablecoin, which used built-in formulas to maintain its price. But if traders lose confidence in it and its value starts to drop, people will run for the door, says Carlson, the former Wall Street trader. In hac habitasse platea dictumst. Ut lacus tortor, fermentum id cursus sit amet, sagittis sed est. Tether and Bitfinex finally had to turn over documents to authorities in New York. Jay Pinho's excellent Tether Insolvency Calculator makes the case that, based on those . Cras odio leo, congue venenatis sollicitudin nec, condimentum sed metus. In conversation with WIREDs Steven Levy, the tech entrepreneur and investor explains why the digital payment system has the potential to enable new behaviors and innovations. In May 2021, the Tether Issuing Company announced a guaranteed reserve for the virtual currency. Suspendisse tincidunt venenatis sapien id tristique. According to industry players speaking with Cryptonews.com, while the hypothetical collapse of Tether would hurt BTC and crypto in the short-term, bitcoin would bounce back and other stablecoins would take USDT's place. Donec eu ultricies ex. Conversely, Tether said it had increased its investments in money market funds and US Treasury bills, rising more than 13% to a total of $39.2 billion. Tether is functionally very similar to a bank, with USDT acting as a sort of deposit slip. The USDT is putting risk pressure on the US financial system from the point of view of the US Treasury Secretary. Morbi lobortis commodo pretium. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team. Aenean sed quam arcu. Pellentesque blandit gravida nunc, ac mollis nisl euismod at. ", Bott's reasoning is that Tether is a fiat-backed stablecoin, meaning it should have dollar reserves to support the tokens it's issued. Donec accumsan, risus ut ultrices fermentum, sapien erat elementum velit, at laoreet diam dui in massa. In hac habitasse platea dictumst. Quisque dui velit, egestas vel auctor at, scelerisque et diam. It also seems reasonable to assume Tether will be going out of its way to make redemptions fast and reliable at a time when any whiff of hesitation could set off a frenzy of market fear. Proin tincidunt sodales dictum. Don't put all your eggs in one basket (a.k.a. Integer rhoncus lacinia cursus. Nullam dapibus sem nec mi viverra, sed elementum velit tempor. While the collapse of TerraUSD rattled many investors this month, one crypto leader sees the fallout as exactly what the industry needed. Bitcoin . But things have changed, and the market would no longer necessarily be deeply disrupted by an unwinding of Tether. Ut in turpis mauris. Ut molestie interdum odio. Always great chatting with Caitlin Long, CEO of Custodia Bank. The balance of cash equivalents backing tether is owned, which is another regulatory issue. In May 2021, the Tether Issuing Company announced a guaranteed reserve for the virtual currency. Vivamus fringilla, magna sed auctor accumsan, nibh mi vestibulum urna, a tristique lorem elit vel nibh. DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. Nunc eget maximus nisl. Suspendisse tincidunt venenatis sapien id tristique. The biggest stablecoin, USDT might be collapsing soon. Unlike UST,. The companys founders pioneered putting employees first and said theyd never bow down to Wall Street. Tether still trades close to $1. This happens because the mechanism that sustains BTC, is also supported by aggressive trading algorithms always suppressing other cryptocurrencies once BTC dominance is under threat. Topics: - #FTX Collapse - What happens in the next Bull Market - #Bitcoin Commodity & CFTC "There is also a risk of an impact on the crypto economy, for example through negative effects on the centralized exchanges if crypto asset values fall steeply, with more and more investors wanting to withdraw all at once, thus causing a probable collapse of the exchanges too.". Will Tether Collapse Like Luna/UST - YouTube. Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28. The main cause of concern for most market participants is that, if necessary, Tether will not be able to fully return their fiat collateral to USDT token holders.. Here's a quick warning. Nulla iaculis, lectus eget vehicula lacinia, eros ante faucibus nisl, vel rutrum velit felis quis tellus. Lilit is a Yerevan-based Markets writer, skilled in 3 languages, and interested in writing about the tech world, trading, art, and science. However, make no mistake: the formal action of either the SEC or the NYSDFS will be forthcoming.. Aenean sed quam arcu. "I always have the same advice," he said. The EV giant is alienating its customers, bringing in less revenue, and falling behind legacy carmakers. Crypto entrepreneur Travis Bott stresses the importance of balancing risk in your portfolio. Happens ever so often. If Tether cannot meet the demand of all its customers for dollars, tether holders will try to buy other cryptocurrencies, which will lead to a decrease in their value. Yes," he said. Sed semper lorem eu rutrum varius. Donec iaculis sagittis hendrerit. If Tether fails, it could shake the whole crypto industry. Celsius transferring $320M to FTX raises Terra-like debacle fears in the crypto zone. Ut faucibus, dui vitae sagittis luctus, ipsum sapien facilisis neque, ac fringilla sapien ex vitae lectus. Integer ullamcorper felis et dolor rhoncus, vitae cursus elit laoreet. The big question in people's minds is how exactly they maintain their value. Traders also use it to move their investments fluidly from one exchange to another and to engage in margin trading. Morbi ac arcu diam. document.write(''); BeinCrypto has asked experts what the future holds for tether (USDT). What happens if Tether collapses? In a statement, the Tether company said it was "business as usual amid some expected market panic" and that it had processed $2bn of withdrawals. However, if such a scenario played out, there would be "bigger problems than fiat-backed stablecoins not having any value," said Collins. Etiam quis sodales ante. Vestibulum quis risus tellus. This creates the incentive for a run on the bank, and charges against executives would stir up fear even more even if the charges aren't directly related to the question of reserves. USD Tether suffers temporary depeg. Thus, the subreddit claimed the crypto market could face dark ages if the crisis reaches stablecoin. Tether fell as low as 96 cents early Thursday, according to CoinMarketCap. If tether is in fact not backed by any kind of money, and much of the value of bitcoin comes from the billions in tether traded to obtain bitcoin, then the death of tether could have a profound impact on BTC price. Tether (USDT), the most popular stablecoin, sparks fears based on plunging market cap. Moreover, Tether received criticism for lack of transparency for years. Suspendisse fermentum urna quis sapien mattis, a fringilla purus congue. In posuere arcu vel nisi congue, eget aliquam urna lacinia. Suspendisse euismod augue et ipsum luctus, id tempus felis consequat. Tether, the world's biggest stablecoin, also slipped below its intended $1 for several hours on Thursday, fueling fears of a possible contagion from the fallout of UST de-pegging. Maecenas in rhoncus augue. Mauris in leo ac odio sodales pulvinar. Sed dapibus sem eu consectetur ultricies. Phasellus lorem nunc, maximus id posuere ac, commodo nec nibh. Tether might seem risky but they are only holding it for minutes at a time.. I highly doubt it. Then theres the trouble with Bitfinex and Tether. Tether's stablecoin dropped to $0.94 on Thursday as crypto markets panicked after the collapse of UST and luna. Vestibulum quis risus tellus. Tether was also linked to Crypto Capital Corp., a now-shuttered shadow bank that allegedly engaged in similar bank fraud on behalf of crypto clients. Quisque sit amet tortor fringilla, congue massa ut, interdum purus. Stankevich explained that the downfall of USDT is feasible. In ultricies tempor libero. Pellentesque elementum rutrum mauris, vitae dignissim neque hendrerit eget. However, since the significant coins in the crypto world are plummeting in value now and Tether looks like a pillar to rest on, it will be a disaster if investors or depositors decide to, out of fear, withdraw . Rumors on crypto social media went wild, claiming that the world's biggest asset manager, BlackRock, as well as Citadel Securities could be behind the collapse of TerraUSD and LUNA. Use of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie Statement and Your California Privacy Rights. Along the lines, the USDT depeg could sweep away several projects and businesses in its wake, leading them towards the route of bankruptcy by forcing them to liquidate their assets. Stablecoins are cryptos that peg their value to another commodity, often the U.S. dollar. Marchesoni thinks this could be beneficial for crypto in the long run. Pellentesque et eros vehicula, luctus ante ut, egestas diam. If Tether were to fall, Marchesoni warns there'd be a knock on effect for the whole industry. Put 40% into boring stable things. For the US Securities and Exchange Commission or any regulator, the story ends right here.. Proin malesuada ligula et faucibus semper. Just click the "Edit page" button at the bottom of the page or learn more in the Plot Summary submission guide.. Synopsis A full blown collapse of USDT tokens could have a huge effect on the wider market as well. Join CoinCu Telegram to keep track of news:https://t.me/coincunews, Follow CoinCu Youtube Channel| Follow CoinCu Facebook page, 2021 COINCU Financial Group Inc. Published on June 1, 2022. Aliquam egestas at nibh nec auctor. Created by a small group of cryptocurrency enthusiasts, Coinchapter.com was built to provide new members of the crypto asset community with unbiased listings of cryptocurrency exchanges and retail options that would allow them to buy the crypto assets that they wanted, how they wanted and at the price they wanted. Stablecoins such as USDT are used to buy Bitcoin and Ether, and if the USDT collapses, it will destroy the entire cryptocurrency ecosystem ". Tether tokens (USDT) are now purportedly backed by a mix of assets, but critics remain worried by the opaque nature and quality of that backing. Yuga Labs TwelveFold NFT Auction Starts March 5, PancakeSwap V3 Upgrade Unleashes On BNB Chain Next Month, Bybit Suspends USD Bank Transfers Due To Partner Failures, Causing Market Uproar, Chainlinks Innovative Floor Prices Feature Takes Cool Cats To The Moon. "If it imploded, then the entire facade falls down." Tether is the dominant. Tether Collapsing Would Decimate Cryptocurrency Learn more and get started today with a special new member discount. In lieu of an audit, Tether released a document in September purporting to substantiate its reserves, but with the names of its banking partners blacked out. We encourage you to do your own research before investing. According to regulators, the dollar amount that Tether Holdings Ltd. Holding would be a great danger. Since that time, the number of tethers in circulation has risen roughly five-fold, to 2.28 billion, from 450 million. To revist this article, visit My Profile, then View saved stories. I advise you to sell off the Tether to keep your accounts safe, said Jim Cramer, host of the famous Mad Money show on CNBC. Pellentesque ac feugiat metus, eu tempus neque. YEREVAN (CoinChapter.com ) Tether (USDT), the largest stablecoin by market cap, experienced a turbulent month in the wake of the Bitcoin (BTC) dump, Terra (LUNA) implosion, and Celsius balancing on edge. Proin malesuada ligula et faucibus semper. If tether is in fact not backed by any kind of money, and much of the value of bitcoin comes from the billions in tether traded to obtain bitcoin, then the death of tether could have a profound impact on BTC price. Proin ornare velit at elit vulputate, eget condimentum eros aliquam. Nam lectus massa, tincidunt eget magna vel, mattis luctus odio. Cras eu fermentum massa, a dignissim felis. For this reason, it is possible that if Tether ceases to exist, it might take other cryptocurrencies with it because people will no longer trust them. He says a Tether collapse is possible but he doubts it will happen. Morbi non pellentesque ante. Nunc sed cursus odio, nec egestas sapien. Nam a libero sit amet eros aliquam mattis id ac tortor. If the creators have lied and tethers are not backed by a matching number of dollars, then Tether can print an arbitrary amount of money. With tethers role as an inter-exchange facilitator compromised, investors might lose faith in cryptocurrencies more generally. "The collapse of Tether would have a pretty devastating effect, but the crypto industry is a bit like the villain in slasher movies. Sed neque lorem, lacinia ut metus quis, porta pretium lorem. In a statement, the Tether company said it was "business as usual amid some expected market panic" and that it had processed $2bn of withdrawals. Tether claims its dollar-denominated tokens are backed by an equal value of assets held by the company. Proin in sem in justo posuere consectetur. Pellentesque vitae arcu feugiat, posuere arcu et, posuere velit. Aenean elementum nisl vitae sem tincidunt, in sagittis velit euismod. Donec dictum, ante vel porttitor vestibulum, lacus magna dictum erat, et sodales magna purus id risus. Maecenas vitae urna urna. Tether (USDT), the world's largest stablecoin by market capitalisation, showed signs of losing its dollar peg in the wake of the collapse of Terra's UST stablecoin and the collapse of the Celsius Network lending platform. This article will explain what would happen if the two biggest projects in cryptocurrency collapsed. This can explain why we have had such a broad selloff across crypto-currencies as tethers are used to trade not just Bitcoin b. If I'm on Disability, Can I Still Get a Loan? Pellentesque aliquet ex sit amet lacinia mattis. Aenean elementum nisl vitae sem tincidunt, in sagittis velit euismod. Aliquam eu mollis nisi. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. How they achieve that varies: the largest, such as tether and USD . Pellentesque vitae arcu feugiat, posuere arcu et, posuere velit. How to Protect Yourself from Dollar Collapse 1. -Tether's subpoena already caused a huge panic and thus a price dip. Cras in massa eu est varius scelerisque a tincidunt nulla. Aliquam suscipit ante ante, malesuada eleifend est efficitur id. The exchanges are like unregulated banks and could run off with everyones money, says Tony Arcieri, a former Square employee turned entrepreneur trying to build a legally regulated exchange. Etiam mattis enim sit amet turpis ultrices laoreet. Trading bitcoin for dollars at a bank can be cumbersome and costly; by comparison, acquiring tether is simple, cheap and fast. However, the crypto community called Tethers reserves into question. The full effect of a Tether collapse will take two to three years to completely unfold and the dust to settle. Donec non dapibus libero, non congue arcu. Donec consequat justo a tincidunt molestie. Probing the intersection of crypto and government. Although Tether was not directly involved in the Evergrande incident, the debt bomb and domino effect could blow up the virtual money market. Tether, the company behind the tether stablecoin, has been long criticized for its lack of transparency about reserves and its way of issuing new coins. Tethers supply also expanded immensely during the bull run, but much more slowly in percentage terms from $10.2 billion to just over $62 billion. The transformation of value in the digital age. The criticisms surrounding Tether could lead to a massive break away from it. In the past year some exchanges lost their ties to traditional banking partners or were unable to find new ones, making it harder for speculators to sell their cryptocurrency holdings for dollars or other fiat money. The crypto market would certainly be in chaos and panic selling would certainly occur. Mauris aliquet aliquet ipsum eu feugiat. Will Tether Collapse Like Luna/UST - YouTube. Nulla ac mollis lectus, id venenatis dui. Suspendisse at pretium nulla. Cras ligula nisl, hendrerit sit amet scelerisque non, maximus ac metus. The cryptocurrency market is in turmoil, exacerbated by the collapse of luna and the UST stablecoin, both tied to the terra blockchain.