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Coffeezilla, a YouTuber whom covers scams, and fraud in the crypto market as well as the traditional markets just uploaded his video on Tether.

Coffeezilla, a YouTuber whom covers scams, and fraud in the crypto market as well as the traditional markets just uploaded his video on Tether.



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43 Comments

  1. You’d think at this point, being a successful $60B business, Tether would be incentivised to play it straight

    The alternative is they get a facial reconstruction and spend the rest of their lives hiding from millions of angry pitchforks (this is would much worse than Gox or Quadriga)

  2. The video is worth watching folks.

    Unfortunately, I suspect that Tether will eventually burn us all to a certain degree. At this moment there is not much we can do about it aside from not using or holding Tether.

  3. All these comments being sarcastic about the fact that Tether is a scam.. there are still thousands of people that hold and use Tether, and there are still multiple exchanges that remain heavily reliant on Tether. More public awareness can only help with increasing knowledge and pressure to move away from that shady coin.

  4. Since the market didn’t collapse when the lawsuit dropped, it probably never will. For years people screamed that a Tether lawsuit would demolish the crypto market but…nothing happened during the lawsuit and nothing happened after the settlement.

    Is Tether shady? Hell yeah. But do you really think institutional players would be buying Bitcoin if they knew Tether (a shady actor they cannot control) would collapse the entire market rather sooner than later?

    Also, it is by no means conclusive that Tether has artificially inflated the market. That’s still a heavy debate in academics.

  5. Thank OP! This is really eye-opening to me. Maybe I am oblivious, I have been using USTD as my main stable coin. I will switch over to another one. Good work!

  6. I don’t understand. It has been FUCKING OBVIOUS that Tether is a complete scam. I have been saying it for years and years..

    It’s wilful ignorance at this point, within the crypto community.

  7. Tether is a massive fraud and now they hold a shitload of BTC. Sad that this isn’t being reported more widely. When Tether collapses the markets are screwed and will be for a long time

  8. Probably the things that most americans do not realize about Tether, is that, if you don’t have USD, it is cheaper to from Wtv currency -> Tether -> crypto, than Currency -> USD -> Crypto. I mean… I never hold Tether, but I trade it a lot

  9. I’ve heard it all before.

    I wouldn’t disagree at as a bitcoin maxi. Tether is a net negative in my personal opinion. Btc doesn’t need a tether to appreciate.

    That being said. This is a $ problem more than a btc problem.

    My 2 cents.

  10. Tether has and will always be the one thing that holds me back from going balls deep into crypto. I specifically have a set amount of cash set aside for the day this thing implodes.

    If it never happens, good. My crypto bags are set anyways.

  11. Would it be a bad idea to borrow tether on aave? Seems to me like if it implodes, you basically get a free loan. What are the downside risks to be aware of borrowing tether?

  12. Its funny how integral that tether reserves match to minted tether tokens, yet we gladly except all the money in our bank is via fractional reserves and only 1/25th represented

  13. Coffeezilla cuts through bullshit quite well, but *sometimes* he is style over substance (Sorry coffee!).

    He could do with a few weeks in a crypto incubator to bring him really up to speed with the market and the benefits that crypto has to offer. Get familiar with some good projects before dismissing the entire space as a scam and a tulip-like bubble, which he seems to do quite prematurely (at least in some of his earlier vids, I haven’t watched him for a while)

  14. Tether just had a pretty massive stress test this past month, leveraged liquidations all around, and it didn’t go tits up.

    Maybe, just maybe, it isn’t a scam?

  15. People have been calling tether a scam for ever. But honestly 1 it’s is worth what ever people think it’s worth and that happens to be 1usd for the most part. Kinda old news. Anyone remember when there was a usdt cartel thing going down?

  16. Pegged currencies work great until they don’t. It’s just too tempting to not hold 1:1 reserves. It has failed many times in the real world and it will eventually fail in the crypto world.

What do you think?

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