Disputes are flaring up around USDT regarding news about delisting from EU exchanges, but is it really that critical?
✌️ USDT currently has a total of two problems:
1. Insufficient transparency.
2. Fear of losing liquidity after exiting the EU market.
▪️ In 2018, auditors were fired for excessive diligence 🤣.
▪️ In 2021, a report was published in collaboration with BDO, but this is not a full audit.
This was followed by fines from the CFTC for holding unclear assets and various kinds of FUD.
🔒 And now Tether is facing MiCA and preparing for exclusion from EU exchanges, but not everything is that bad.
Tether seems to already be working on circumventing regulations. Recently, the company invested in StablR — a stablecoin issuer fully compliant with EU standards. This could be their strategy to stay in the market without directly complying with regulators.
💭 In summary, it can be said that Tether is too big to fail, although the company still cannot pass a proper audit to become more trustworthy. But if by some miracle this happens, then for the next year or two, you won't need crypto at all, because there will be a crash, as a large part of exchanges, companies, and funds hold significant reserves specifically in #USDT🔥🔥🔥 and not in #USDC✅.