Currently, there is an investigation going on with usdt and basically against the company that manages the stablecoin in the crypto market. We know that stablecoin is an important part of the entire crypto ecosystem so we cannot imagine a crypto market where we do not have stablecoins. The demand for stablecoins is expected to grow significantly in the next couple of years and this time USDT is the leading coin in the market. Obviously, this is not the only coin we have and we have many other coins also available in the market and they have also got quite a good response in the market.
Stable coins are backed by the Fiat currency and most of these stable coins are supported by the US dollar. Also, every exchange keeps some crypto pairs with stablecoins for eg trading and USDT is the primary coin in this use case. Now there is an investigation going on with the company through the US government and because of that, we can see some sort of panic in the market. I don't think there is any reason to worry at this point because it is just an investigation and nothing wrong has been proven against the company. It is also a situation when we can say that nothing is wrong unless it is proven so let the things go how it has been going and Justice needs to keep an eye on the overall updates.
This is not the first time the US government has done such an investigation with any company because we have seen in the past how the US government has targeted some crypto exchanges. They have gone to an extent where some of the exchanges had to shut down their business or move out of us because it was not easy for them to run the operation. In any case, it is not easy for any company to operate when the entire government body is against them and a similar situation is happening in the United States against Crypto Companies.
Now because we are in the situation of election in the United States it is expected that if Trump comes into power, things will improve. The election result is not far away and soon we are going to know who will rule the country for the next four years so let's hope positive. Let's hope for what is good for the crypto industry and let's also try to not panic and keep ourselves updated with the overall progress in the case.
Do you think that it is the time when we need to panic and worry about it? Do you think that the company will be coming out of this problem soon as they have not done anything wrong at least what they say in the news?
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