🚨IMPORTANT🚨
🩸Summary of what is happening with #Tether $USDT. LOOK 👇
🧐Several analysts claim that this could cause a BLACK SWAN in #crypto, others claim it is pure FUD, let's see what the DATA says
▪️In 3 days Tether will be DELISTED from ALL CENTRALIZED EXCHANGES in Europe for failing to comply with MiCa regulation
▪️This will cause EVERYONE holding $USDT in European exchanges to have to EXCHANGE it for another stablecoin
▪️Due to this, several people claim that $USDT is going to have a CRASH similar to what happened with $UST from Luna
👉Currently, $USDT faces two main issues:
🔻Lack of transparency and doubts about security
🔻Fear of losing liquidity after leaving the EU market
▪️The first has always been a topic of discussion and debate in the crypto community
▪️It turns out that Tether has never undergone an audit and only promised to do so in 2015.
▪️The first company that attempted to conduct an audit was fired for being too thorough in 2018
▪️And in 2021, Tether published an 'audit report' in partnership with BDO, but it was not a formal audit
👉The latest blow to Tether came through the new MiCA cryptocurrency regulation
▪️Tether failed to obtain the mandatory license to operate in the EU.
▪️Therefore, all EU exchanges must remove $USDT from their listings before December 30.
📌ACCORDING TO ANALYSTS WHO CLAIM WE SHOULD NOT WORRY:
▪️Several top-tier exchanges HAVE ALREADY DELISTED $USDT, including Binance.
▪️Since the LARGEST EXCHANGE OF ALL has already delisted it and this did not cause a DEPEG, experts say there is nothing to worry about
▪️After all, even most level 1 exchanges keep the majority of their reserves in $USDT
▪️Most likely, Tether, as always, will come up with something and may have already done so.