thetradingparrot
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USDT update 15/1/2020
🕑 Added 2021-01-11 21:12:24 +0000 UTCHi Guys, I'm swapping all my USDT for USDC until we get pasted Friday 15th. I want to make sure the "rumours" of Bitfinex getting a lawsuit are not real.
It's been years this topic has been in the news. If you google tether lawsuit or tether scam filtering results by any year, you will always find there's news of USDT getting delisted or lawsuit. But don't get me wrong, it could perfectly be the case that it eventually happens. The fact is that I don't see enough news today or yesterday for USDT lawsuit on google trends to justify this particular sell off we are having.
Alternative outcomes if the lawsuit becomes effective:
1) Huge market dump affecting all tokens at once.
2) Potentially all USDT swapped to BTC or other stable coins like for example USDC. If people moved their USDT into BTC that could spike the value of BTC.
3) Delisting USDT and USDT pairs from exchanges.
4) We should hear soon news about XRP. Some of that cash flow might end up in XRP if the news were actually good, like a case settlement by the SEC.
5) Nothing happens!
I'm personally going to sit in the sideways to see what happens on Friday or before.
It can perfectly all be a big market manipulation but I'm not willing to be trading while this is developing. I learned my lesson with XRP :)
You can check this video link, it should take you straight to the part where I look into the explanation.
https://www.youtube.com/watch?v=O1xorklL2tw&t=840s
Have a look at some articles and news related to this :
https://twitter.com/xrp_mami/status/1344084410195451913
https://twitter.com/search?q=usdt%20lawsuit&src=typed_query
https://www.courtlistener.com/recap/gov.uscourts.nysd.524076/gov.uscourts.nysd.524076.154.0.pdf
