We are entering an extremely dangerous time in crypto.
If you have a large portfolio or your financial future is invested in crypto you need to understand the risk coming in the very near future.
Firstly and most importantly is USDT, the $110 Billion company, the most traded crypto by volume, a company we as a crypto community have allowed to be our liquidity without any concrete proof our funds are backed.
USDT has never had official audits, in their terms and conditions it says they are not liable for insolvency, the funds are not insured and funds can be paid back with “in kind redemption “.
The company is run through numerous shelf companies in tax havens and run by people with a criminal history.
This matters now because if USDT is banned in Europe and we have a liquidity shock I am not sure the funds are there, do your research on this it is important!!
My other big concern is the staking and re staking narrative that is pushing us to invest and re invest our funds in a Ponzi scheme like manner in companies that are also not audited or insured, also how we are constantly pushed to get as many people as we can involved for some financial reward.
We have had a massive $1.5 Trillion bull run in the last year and it seems people are quick to forget the last time we had a bull run companies like FTX,Terra,Celsius and many more were fleecing us.
We are still totally trusting and unregulated and one liquidity shock could expose more and more of our missing funds.
You need to have custody or cold storage of most of your crypto in the coming months, I can say for near certainty the rewards are not worth the risk of staking or re staking more than 10-20% of your portfolio.
With Crypto adoption will come regulation and scrutiny, this could be the last unregulated bull run for scammers and you can be very sure they will take full advantage of it.
Don’t be at risk of losing everything based on blind trust.
#usdt #btc #crash