Rumours about the possible delisting of USDT from crypto exchanges

The crypto sphere is buzzing with talks about the potential delisting of Tether (USDT) from major exchanges, and seasoned trader Doctor Profit is sounding the alarm.

In a recent microblog post, Doctor Profit highlighted the brewing storm: "Watching Coinbase and USDT. Probable delisting of Tether. The following weeks promise to be interesting."

The catalyst? The New York State Department of Financial Services (NYDFS) released new token listing guidelines, including a clause on stablecoins. The crucial excerpt states, "Venture companies cannot self-certify non-greenlisted stablecoins."

As of now, USDT doesn't grace the "green list" of cryptocurrencies, setting off concerns within the crypto community. Notably, the exclusion also affects USD Coin (USDC), the stablecoin by Circle and Coinbase.

Adding fuel to the fire, Tether received a court summons from the US Securities and Exchange Commission (SEC) in November 2023.

Market insiders are anticipating the impact on major exchanges like Coinbase and Kraken, both among the top 5 in trading volume. USDT holds a significant position in trading on these platforms.W

Despite the potential delisting blow, Doctor Profit remains confident that USDT will maintain its peg to the US dollar.

Brace yourselves for the unfolding saga! Stay tuned for updates on this developing story in the crypto world.

$USDT #USDT