Bitcoin Slides As Tether Execs Reportedly Face Criminal Probe Over Bank Fraud

Source: https://www.zerohedge.com/crypto/bitcoin-slides-tether-execs-reportedly-face-criminal-probe-over-bank-fraud
Published: Jul 26, 2021
Author: Tyler Durden
Post Date: 2021-07-26 13:23:52 by Horse
Views: 275

"Tether routinely has open dialogue with law enforcement agencies, including the DOJ, as part of our commitment to cooperation and transparency,”

Poster Comment:

Translation: The FED wants everyone to sign up for their DigiCash.

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#1: Pinguinite    To: Horse (#0)

I guess this was reported sometime yesterday. It did go down slightly but is now up 15% in the last 24 hours, presently over $40k as of this writing.

I don't consider Tether a crypto in the conventional sense. It's a very convenient gateway between crypto and fiat dollars and for that reason, enjoys the most transactions in the entire crypto world including bitcoin, in spite of only having about 8% of the market cap of bitcoin. Tether really demonstrates how even in the crypto world, everyone routinely considers the dollar to be a stable unit of value. I'd as soon see Tether dry up and blow away.

But there are a couple other stable coins, as they are called, to replace Tether if it goes down.

Pinguinite posted on 2021-07-26 15:12:45   Reply   Private Reply

#2: Horse    To: Pinguinite (#1)

Whatever happened to Ripple?

Horse posted on 2021-07-26 16:17:58   Reply   Private Reply

#3: Pinguinite    To: Horse (#2)

It's still there, but like all cryptos, is down from it's peak. Mid April saw Ripple trading at almost $2/coin, its red hot price, but it's down now to about 1/3rd of that.

Haven't heard much regulatory news about that lately, but at last word, Ripple was arguing the suit against them is full of holes.

Pinguinite posted on 2021-07-27 00:04:35   Reply   Private Reply