25 sats \ 1 reply \ @2bithits 19 May 2023 \ on: Should We Worry About Tether’s Bitcoin-Buying Plan? bitcoin
Well... When they confiscate all their UST they might need to keep their BTC
That's why I assume USDT is worth $0, because their collateral (U.S. bonds mostly) are subject to being made unredeemable.
I will continue to use USDT intra-day, but I will never hold over a weekend or overnight (from 4:00 pm EDT to 8:30 am EDT), which are the hours the gov't would announce an action.
Even if the gov uses snapshots of the various blockchains so as to reimburse those who controlled USDT at the point in time of the seizure, I still see the value as $0, as that would require me to provide identity verification/KYC with them to convert my USDT for dollars.
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