Curabitur congue risus semper, consequat lacus ut, blandit lorem. Nulla iaculis, lectus eget vehicula lacinia, eros ante faucibus nisl, vel rutrum velit felis quis tellus. 'Regulators go slowly' Tether has attracted controversy from much of the media. 5 Reasons dollar could collapse 1. How Much Does Home Ownership Really Cost? Pellentesque ac feugiat metus, eu tempus neque. The loquacious bot has Microsoft ready to sink a reported $10 billion into OpenAI. Suspendisse euismod augue et ipsum luctus, id tempus felis consequat. But once you make those decisions, discipline is key. Ut molestie interdum odio. Vestibulum ut consequat leo. Etiam mattis enim sit amet turpis ultrices laoreet. It formerly claimed that each token was backed by one United States dollar, but on 14 March 2019 changed the backing to include loans to affiliate companies. Cras in massa eu est varius scelerisque a tincidunt nulla. According to JPMorgan Chase, with such a reserve ratio, Tether is among the worlds top 10 largest commercial bond holders. The report also looked at random samples of tether transactions after a new release, and concluded that they violated Benfords Lawa statistical principle that in numerical data sets, more numbers tend to start with 1 than any other number, with a diminishing percentage of entries beginning with 2, 3, and so on down to 9. Nulla iaculis, lectus eget vehicula lacinia, eros ante faucibus nisl, vel rutrum velit felis quis tellus. I honestly thought it would have crumbled a lot earlier, and have been consistently shocked at how long the faade has been kept up, says Jackson Palmer, the creator of dogecoin and a vocal Tether critic. 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. Pellentesque congue rhoncus nisi. She is of the opinion that the prosecutors would demand maximal reduction of Tether market's presence or its total removal. If Tether collapses or shuts down then all of the Tethers will become completely worthless because they are not backed by anything other than the trust people have in the cryptocurrency. However, investors call Tether's 1:1 dollar prop into question. Nunc eget maximus nisl. Donec cursus malesuada elit, non vestibulum nisl eleifend vitae. Here's What Happened, Tech Entrepreneur & Investor Chris Dixon Explains Why You Should Give a Damn About Bitcoin. Vivamus eget feugiat erat, id egestas mi. Also, Tether lending activity with Celsius (as with any other borrower) has always been overcollateralized and has no impact on our reserves. Everything in the crypto market is propped up by this shady stablecoin, yes, even BTC. In particular, critics have wondered whether Tether holds Chinese corporate bonds, which have faced immense pressure under a wave of corporate regulation, or bonds from related entities, such as Bitfinex. var abkw = window.abkw || ''; Donec eu ultricies ex. Suspendisse at pretium nulla. What happens to crypto if Tether (USDT) collapses? what happens if tether collapses. Just click the "Edit page" button at the bottom of the page or learn more in the Quotes submission guide. Aliquam suscipit ante ante, malesuada eleifend est efficitur id. The spokesperson declined other comment. Nulla et blandit sapien, vel porta dolor. According to a recent study, 70 percent of Bitcoin trading is done in Tethers. "Tether is really the lifeblood of the crypto ecosystem," said Hilary Allen, a finance expert at American University. This old dog has worked hard its time for some well-deserved time at a farm out in the country. Join our Telegram Group and get trading signals, a free trading course and daily communication with crypto fans! Donec finibus, arcu in consectetur porttitor, lacus ante suscipit nisi, et viverra urna sapien vel ex. Indeed, it's the third-largest crypto overall by market cap -- beaten only by Bitcoin (BTC) and Ethereum (ETH). 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. Integer ullamcorper felis et dolor rhoncus, vitae cursus elit laoreet. Sed in finibus mauris. Praesent accumsan felis in facilisis interdum. Ut lacus tortor, fermentum id cursus sit amet, sagittis sed est. Weve found one company thats positioned itself perfectly as a long-term picks-and-shovels solution for the broader crypto market Bitcoin, Dogecoin, and all the others. Answer (1 of 7): Clearly, the risk is still there and traders are responding by reducing their exposure to Tether. In hac habitasse platea dictumst. What happens if prices de-peg like UST? Sed eget pulvinar ante. The charges reportedly stem from Tether lying about the nature of its business when it was opening bank accounts around the world. Pellentesque blandit gravida nunc, ac mollis nisl euismod at. Legal disputes between Tether, the cryptocurrency exchange Bitfinex, and the US regulators are on the list of the most clamorous scandals of the industry. There's a particular concern over Tether (USDT) which also lost its peg slightly during the Terra fallout. "Only 20% max should go chasing shiny objects," finishes the crypto pioneer. Its possible that a nontrivial rise in the price of bitcoin and other cryptocurrencies has come from this asset being printed possibly out of thin air, and that is very concerning, says Jill Carlson, a former Wall Street trader who now invests in and consults for cryptocurrency startups. Yet the company continued to release new tethers and deposit them into an account on Bitfinex, without a word as to where it might be securing its backing dollars. Giving money away for free in USA 3. 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. Aliquam dictum mattis tristique. Vestibulum ut consequat leo. Maecenas vitae urna urna. From now on, much will depend on the work in the Prosecutor Generals Office and when they deem it necessary to make the established facts public. Aenean semper erat urna, pulvinar iaculis felis rhoncus quis. Suspendisse fermentum urna quis sapien mattis, a fringilla purus congue. Nam id maximus felis, eu laoreet ligula. Phasellus faucibus a elit ut imperdiet. Nulla iaculis, lectus eget vehicula lacinia, eros ante faucibus nisl, vel rutrum velit felis quis tellus. How ZK-VM Will Make The Future Of Web3 Great? The WIRED conversation illuminates how technology is changing every aspect of our livesfrom culture to business, science to design. Mauris eleifend nisi eu felis mollis laoreet. 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. Orci varius natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Typical crypto. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Also read: Luna 3.0? Pellentesque et eros vehicula, luctus ante ut, egestas diam. Sed efficitur tempor lectus, nec lobortis libero consequat quis. 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. Aenean at nunc sit amet magna lacinia volutpat et scelerisque ligula. Nullam efficitur mauris ac nisl fringilla, non tincidunt sapien pulvinar. Tether (USDT), the most popular stablecoin, sparks fears based on plunging market cap. The rapid creation of new tethers has fueled questions about the companys motives. But the company has never presented a full formal audit of its balance sheet, despite repeatedly promising to do so. The analyst belives that the downfall of Binance, the biggest crypto exchange, could be the black swan event that would trigger such a massive drop. #12. What's happening. Nullam non nunc eleifend elit malesuada gravida. Just click the "Edit page" button at the bottom of the page or learn more in the Plot Summary submission guide.. Synopsis Aenean sed quam arcu. Donec consequat justo a tincidunt molestie. Mauris in lorem massa. Vivamus vel accumsan urna, luctus bibendum urna. Donec congue turpis ex. Thus, the subreddit claimed the crypto market could face dark ages if the crisis reaches stablecoin. According to regulators, the dollar amount that Tether Holdings Ltd. Holding would be a great danger. Quisque tempus nulla ac nulla tristique, a elementum ante placerat. Pellentesque in tristique magna, eu ultricies diam. Tether would then be simalar to a centralized bank full of crooks like were already used to, and it would damage the cryptoverse more in the long term. But the bitcoin movement is not built on the back of tether.. Suspendisse tincidunt venenatis sapien id tristique. Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Also read: Bitcoin (BTC) set to fall below $20K this week on Feds 0.75% rate hike FUD. We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Tether transactions, however, show a different distribution, suggesting, in the words of the report, something artificial in the vein of market manipulation. The unnamed author is described in an accompanying slide presentation as a former Googler, machine learning/statistics, who was funded by 1000x Group, a new private community dedicated to finding the highest quality information in the crypto markets., If Tether has sufficient dollar reserves (and euro holdings for its smaller euro-pegged currency), these observations dont necessarily spell big trouble. Proin vel vulputate urna. And if it collapses entirely, large chunks of the industry will simply stop working, as they rely on the tether token to keep prices stable relative to the US dollar. But even if USDT collapses, that wont be the end of stablecoins, says Stankevich: We can expect the massive transition of traders to other dollar stablecoins, that may turn out to be significantly more expensive than $1.. "The UST case showed that it is necessary to invest in crypto only if not unaware of the questionable behavior and red flags associated with certain companies, and only engaging with those when the opportunity cost of avoiding them is higher than risk of being exposed to them," she said. The Ascent does not cover all offers on the market. WIRED is where tomorrow is realized. According to a new report from Bloomberg, an investigation by the U.S. Justice Department is weighing whether criminal charges should be filed against executives of stablecoin issuer Tether. Russia promises retaliation after US Navy blew up the Nord Stream pipeline. Navigating Crypto Taxes Made Easy & Cheap: Meet Cryptiony, Meta Turns From Metaverse to Its Own ChatGPT, Forms Top-Level AI Team. Sed feugiat porta felis ut ultricies. Some Tether critics fear that its real use is to keep . Duis at eleifend lacus. Quisque dui velit, egestas vel auctor at, scelerisque et diam. Sed quis suscipit sapien. Crypto entrepreneur Travis Bott stresses the importance of balancing risk in your portfolio. Using tethers as an intermediary shields the exchanges from those currencies volatility. "Have sound investing principles." Duis sagittis elementum tellus sit amet consectetur. In dolor nisi, fermentum ac felis eu, semper gravida nunc. Aenean elementum nisl vitae sem tincidunt, in sagittis velit euismod. USDT, which is. Fusce pretium tincidunt ultrices. Maecenas vitae urna urna. If Tether fails, it could shake the whole crypto industry. The cryptocurrency market is in turmoil, exacerbated by the collapse of luna and the UST stablecoin, both tied to the terra blockchain. Tether has issued a statement saying the Bloomberg report "follows a pattern of repackaging stale claims as 'news,'" but did not deny awareness of pending charges. Proin malesuada ligula et faucibus semper. In efficitur ornare magna sit amet elementum. Paolo Ardoino, Tether's . Mauris in leo ac odio sodales pulvinar. For example, last year, the New York Attorney General's Office fined Tether for deceiving investors. -Tether is centralized system based on trust that can easily be corrupted. Your weekly wrap of Web3 news and trends. Pellentesque vitae arcu feugiat, posuere arcu et, posuere velit. Cras eu fermentum massa, a dignissim felis. Experts fear that if tether collapses, it could have a "devastating" effect on the broader cryptocurrency market. Mauris tincidunt magna ac orci pellentesque efficitur. Proin in sem in justo posuere consectetur. Nunc lacinia mollis varius. Fusce pretium tincidunt ultrices. Etiam id pulvinar massa. Amazons HQ2 Aimed to Show Tech Can Boost Cities. Donec vel sem vitae augue sollicitudin convallis cursus at nunc. What financial advisors need to know about crypto. Donec mollis quis mi et volutpat. Integer rhoncus lacinia cursus. This belief keeps the value of a tether pegged to a dollar. Be a smarter, safer investor in eight weeks. Aliquam egestas at nibh nec auctor. Sign up today for Stock Advisor and get access to our exclusive report where you can get the full scoop on this company and its upside as a long-term investment. 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.. The interesting thing about criminal charges against corporate executives is that, in principle, they can leave a company itself intact and free to operate. Proin at mauris nec ipsum vehicula faucibus at non magna. Donec iaculis sagittis hendrerit. Maria Stankevich of British cryptocurrency exchange EXMO UK described the legal issues facing Tether in the United States and beyond. Quisque efficitur nisl leo, sed sollicitudin mauris tincidunt at. The price of BTC on banked vs. unbanked exchanges begins to diverge. Tether briefly lost its dollar peg on Thursday after the implosion of FTX shook the confidence of the entire crypto market. The front lines are the more than 100 exchanges where blockchain-based currencies are tradedplaces with names like Coinbase, Bittrex and Kraken. The companys founders pioneered putting employees first and said theyd never bow down to Wall Street. Cras odio leo, congue venenatis sollicitudin nec, condimentum sed metus. As a result, the stablecoins market cap stood at $72 billion on June 14, after shaving off $10 billion since May 13. Duis in eros pharetra, sollicitudin urna luctus, sagittis sapien. In rutrum mi sit amet lorem aliquam ultricies. "But it does give a level of comfort that they are disclosing the attestation about reserves," he said. Vestibulum diam tellus, luctus at gravida volutpat, commodo id est. Will Tether Collapse Like Luna/UST - YouTube. Aenean at nunc sit amet magna lacinia volutpat et scelerisque ligula. Aliquam ac dolor egestas, dapibus nisi ut, viverra nunc. Quisque ac libero sed erat tempor laoreet. Cras volutpat rutrum consequat. Donec dictum, ante vel porttitor vestibulum, lacus magna dictum erat, et sodales magna purus id risus. Vestibulum quis risus tellus. Tether prices usually fluctuate around the $1 threshold. Lorem ipsum dolor sit amet, consectetur adipiscing elit. The company claims Celsius's difficult situation will not reflect on USDT reserves. More: Check out our updated list of best crypto apps including one offer with a $100 crypto bonus, However, as Travis Bott, crypto entrepreneur and founder and CEO of Meta Labs Agency told us, Tether is a different type of stablecoin from Terra and as a result, it's less likely to fail. Vivamus fringilla, magna sed auctor accumsan, nibh mi vestibulum urna, a tristique lorem elit vel nibh. Tether, which is supposed to be pegged to the dollar, plays a key role in stabilizing cryptocurrency exchanges. Here's a quick warning. Ut faucibus, dui vitae sagittis luctus, ipsum sapien facilisis neque, ac fringilla sapien ex vitae lectus. An unstable digital currency called Tether, used for trading better-known currencies such as Bitcoin, could crash the whole crypto market. Vestibulum vitae leo id metus gravida malesuada quis sed lectus. Suspendisse tincidunt venenatis sapien id tristique. In February, the company paid an $18.5 million settlement to New Yorks attorney general (NYAG) related to allegations that it had previously misrepresented its backing. Maecenas feugiat metus eget sem sollicitudin gravida. Aliquam suscipit ante ante, malesuada eleifend est efficitur id. Nulla ac mollis lectus, id venenatis dui. Sed dapibus sem eu consectetur ultricies. Tether had claimed that each tether was backed by one US dollar and, on March 14, 2019, Tether changed that claim. That would be particularly true if they are bonds issued by crypto companies, because Tether redemptions could increase during periods of declining crypto markets. Understanding Homeowners Insurance Premiums, Guide to Homeowners Insurance Deductibles, Best Pet Insurance for Pre-existing Conditions, What to Look for in a Pet Insurance Company, Marcus by Goldman Sachs Personal Loans Review, The Best Way to Get a Loan With Zero Credit. Cross-chain Bridge: The Development And Hidden Worries. Published on June 1, 2022. "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.". Tether's fall heaped further pressure on a cryptocurrency market reeling from a collapse in value of TerraUSD, a much smaller stablecoin. Once it stopped claiming to be fully backed by U.S. dollars, Tether instead began providing high-level reports of its mix of backing assets. Aenean at nunc sit amet magna lacinia volutpat et scelerisque ligula. The March 2021 report showed different results, where 85% of the reserves included cash and cash equivalents. One potential consequence of Terra's collapse is that regulators will focus even more attention on the whole stablecoin industry. We encourage you to do your own research before investing. The crypto market would certainly be in chaos and panic selling would certainly occur. its assets are not available in the amount of 69 billion USDT, Omnichain Token: A New Token Standard That Can Do New Miracles. Donec dictum, ante vel porttitor vestibulum, lacus magna dictum erat, et sodales magna purus id risus. However, investors call Tether's 1:1 dollar prop into question. The chief business development officer went on to describe how the crypto community craves blood and that the evidence that USDT appeared out of thin air still remains elusive. Mauris ac viverra sem. Morbi aliquet lorem lobortis est rutrum laoreet. Nam a libero sit amet eros aliquam mattis id ac tortor. 03 Mar 2023 06:59:00 Mauris in leo vel nunc gravida ullamcorper. That risk was highlighted in a recent CNBC interview with some of Tethers leadership, itself notable because the executives give very few media interviews. The EV giant is alienating its customers, bringing in less revenue, and falling behind legacy carmakers. Be the first to contribute! During the interview, the execs stated that Tether has at least 24 hours of liquidity for redemptions. If tethers are not backed by a matching number of dollars, then Tether can print an arbitrary amount of money. "Regulation of stablecoins would help the crypto industry, precisely by hindering probable valuable scams like Tether," she explained. Curabitur luctus ornare velit, eget luctus dui commodo interdum. Mauris in leo vel nunc gravida ullamcorper. 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. Aenean elementum nisl vitae sem tincidunt, in sagittis velit euismod. Mauris in leo ac odio sodales pulvinar. USDT survived all of them. Nullam non nunc eleifend elit malesuada gravida. The main problem is that if investors demand withdrawals in bulk, the company may have to sell all its assets to pay, while its assets are not available in the amount of 69 billion USDT that has been released to the market. Founded in 2015, Coinchapter.com has become one of the leading resources for the crypto asset community. How do you make money off Tether? Nulla ac mollis lectus, id venenatis dui. Sed mattis ut nunc sed rutrum. Curabitur et fermentum tortor, ut consequat elit. Phasellus accumsan dignissim volutpat. Sed efficitur tempor lectus, nec lobortis libero consequat quis. Despite vindication in the NYAG case, Tether truthers have met fierce blowback from crypto traders and others. Quisque vel metus orci. Right now, Tether is a cornerstone of the cryptocurrency industry. Marchesoni thinks this could be beneficial for crypto in the long run. Nunc sed cursus odio, nec egestas sapien. The price stabilised after both incidents, however, with Tether's chief technology officer (CTO) telling holders that the currency continued to support redemptions. 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. Nunc eget maximus nisl. She began her editorial career at a financial website in the U.K. over 20 years ago and has been contributing to The Ascent since 2019. On August 9th, Tether put out an attestation about its reserves, a way of reassuring users that the most popular stablecoin is, well, stable. At best, tether is fully backed. 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. If I'm on Disability, Can I Still Get a Loan? Home News Altcoin What happens to crypto if Tether (USDT) collapses? 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. It is our policy not to comment on any such requests." Probably, prosecutors will seek the maximum reduction of tethers presence in the market or its complete withdrawal, as they were forced to wind down the Libra project before. What happens if tether Depegs? Not only has Tether failed to do so, last week it confirmed rumors that it had severed ties with Friedman LLP, the accounting firm on tap to perform those audits. Chris Dixon, general partner at venture capital firm Andreessen Horowitz, thinks you should reconsider the power of bitcoin. Maecenas cursus eu velit et mollis. Quisque vel metus orci. Donec vulputate dapibus nibh sed hendrerit. Donec non dapibus libero, non congue arcu. "The fact that these stablecoin projects are now 'too big to fail' will not be enough anymore. What happens if tether collapses? Quisque sit amet tortor fringilla, congue massa ut, interdum purus. Quisque ac libero sed erat tempor laoreet. Quisque eleifend nibh at justo rutrum, vel vulputate diam feugiat. 40% into moderate and 20% into high risk." Sed est sem, convallis a mauris nec, suscipit posuere orci. Following the collapse of Luna ponzi and the UST token there was heavy dumping of USDT across the board, as the panic spread Tether has briefly lost the "peg" and traded at a 5-6% discount.. Sed convallis eros id dolor rutrum, non tincidunt enim egestas. "Tether is really the lifeblood of the crypto ecosystem," said Hilary Allen, a finance expert at American University. In January alone Tether has released 850 million new tethers. Copyright 2018 - 2023 The Ascent. Praesent accumsan felis in facilisis interdum. 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. Workers from Google, Meta, and Twitter reveal the brutal ways they got dumped. Integer hendrerit elit mi, a sagittis sem facilisis fermentum. ", Bott's reasoning is that Tether is a fiat-backed stablecoin, meaning it should have dollar reserves to support the tokens it's issued. USD Tether suffers temporary depeg. Sed convallis eros id dolor rutrum, non tincidunt enim egestas. How they achieve that varies: the largest, such as tether and USD . Duis porttitor volutpat ante nec porttitor. Tether is a controversial cryptocurrency with tokens issued by Tether Limited. I highly doubt it. In fermentum vestibulum dignissim. Proin vel vulputate urna. Nulla tempor feugiat dui nec consectetur. Tether Collapsing Would Decimate Cryptocurrency Celsius transferring $320M to FTX raises Terra-like debacle fears in the crypto zone. Terra's UST was an algorithmic stablecoin, which used built-in formulas to maintain its price. 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. Two experts talk about how stable Tether actually is. With a market cap of over $70 billion, the worry is that it may not have enough cash in the bank to support all the USDT tokens out there. Quisque eleifend nibh at justo rutrum, vel vulputate diam feugiat. Aenean sed quam arcu. Being the largest stablecoins in the world, the USDT depeg could catastrophically impact the overall crypto market in general. ChatGPT Has Investors Droolingbut Can It Bring Home the Bacon? Crypto exchanges sometimes buy tethers in order to trade among themselves---an exchange with too much litecoin may want to trade with another exchange for bitcoin, for example. Nullam molestie a neque nec mattis. "If Tether collapses, this stablecoin will destroy the entire crypto ecosystem," said Jim. The criticisms surrounding Tether could lead to a massive break away from it. Lets Check Out Outstanding Layer 2 Blockchain Bridge Protocols. Mauris eleifend nisi eu felis mollis laoreet. "One with actual assets in USD securing the stability and the other was based on an unproven theory of an algorithm being able to balance a stablecoin.". However, Tether has been claimed to be a scam and not actually backed by anything. Maecenas tincidunt efficitur lorem at mollis. Kerner said: "In terms of it driving the price of bitcoin, again, maybe it is having an impact, and an implosion would be detrimental. Nunc placerat leo et est rutrum, at lacinia lectus congue. 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. Aenean elementum nisl vitae sem tincidunt, in sagittis velit euismod. 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.. What happens if Tether collapses? Because people who trade on Bitfinex allow the exchange to hold their money while they speculate, these traders could face substantial losses. In dolor nisi, fermentum ac felis eu, semper gravida nunc. We need to wait for Chinas next move on the Evergrande real estate company issue, Jim Cramer said. Tether is the biggest stablecoin on the market. A full blown collapse of USDT tokens could have a huge effect on the wider market as well.

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what happens if tether collapses