Everyone who has been in crypto for at least a minute has heard the rumor that Tether's reserves are not what they are supposed to be.
Now and then news articles come out talking about how the founder is at the very least eccentric, even shady, last name Pierce or something like that, but nothing ever comes of it.
A few days ago though, a buddy of mine said he thinks we're seeing the last days of Tether and Binance. I was surprised he'd think both could suffer so much at once, I'd figured Bittrex would be the exchange to tumble if something were to happen to Tether, but then my friend told me that the most popular pair in Binance is BTC/USDT which is something that I wouldn't have known because I'm restricted in America.
If Tether was to go under an official investigation and certain assets, like its reserves, were held for auditing...there's no telling what could come of that.
So yeah, let's just say that I've been thinking about a lot of what-ifs lately and none of them are good. Have we become too reliant on pegged assets? Is there enough oversight for the blockchain companies that sell themselves as basically having insurance? I'd love to hear some opinions!
