For those who do not know, USDT is a cryptocurrency, where the price is always the same, 1 dollar. This cryptocurrency is currently being used by most of the cryptocurrency exchange houses. This will prevent, that people lose, money especially sellers. I have been a seller for years in the markets .. To give an example I have sell a product of 200 usd per bitcoin. When the price bitcoin low today. And I received the payment I received 140 dollars = 60 dollars less! Obviously I will not cancel all orders because I do not want to see my clients with less money and without their product. But using USDT would solve all these problems. Simply because the price is not volatile
USDT is a scam. They do not have $1 for each token in an account. Great idea but scam central.
On Tether's own website, they state, "There is no contractual right or other right or legal claim against us to redeem or exchange your Tethers for money. We do not guarantee any right of redemption or exchange of Tethers by us for money." Now, this seems plain and simple: Tether does not have any legal obligation for Tether holders to pay them out. This is a very, very bad sign.
Essentially what it boils down to, is that Tether can print as many tethers as they want, which will all be valued at one dollar. They then sell those tethers off and make money off of selling something that is not even backed up by anything. And they can do it at any time.
If you are currently holding tethers, I would advise being extremely cautious. In addition, the markets could very well correct, considering how many tethers have been printed that may be propping up the prices of certain cryptos.
Scrutiny Intensifies as Tether Exceeds Supply of 1 Billion USDT
who has 1 Billion dollars... the correction happened now the repercussions are gonna hit HARD