🩸Summary of what is happening with #Tether $USDT. LOOK 👇
🧐Several analysts claim that this could cause a BLACK SWAN in #crypto, others say 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 ALL those who have $USDT in European exchanges to have to EXCHANGE them for another stablecoin.
▪️Due to this, several people claim that $USDT will experience 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 exiting 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 tried 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 THAT WE SHOULD NOT WORRY:
▪️Several top 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.
▪️It is most likely that Tether, as always, will come up with something and may have already done so.
▪️Recently, they invested in StablR, which fully complies with European regulations.
▪️This could be a way to circumvent the system and continue operating in the EU.
▪️Of course, it is bad that USDT refuses to undergo an audit and that its balance is made up of suspicious papers.
▪️But exchange owners have already commented on this matter, saying that without USDT, market liquidity simply would not exist.
▪️Paolo Ardoino, CEO of #Tether, claims that this FUD is being driven by competitors, possibly referring to XRP with its new stablecoin❓👀
What do you think, will there be a DEPEG of USDT on December 30 or is it FUD like it has always been with Tether⁉️