💰💰💰 Shock on the Crypto Exchange: Tether USDT Decouples from the US Dollar on Exchanges after the Company Froze $435 Million, disabling the wallets of all users somehow falling under the sanctions of the US Office of Foreign Assets Control (OFAC).

💰💰💰 Shock on the Crypto Exchange: Tether USDT Decouples from the US Dollar on Exchanges after the Company Froze $435 Million, disabling the wallets of all users somehow falling under the sanctions of the US Office of Foreign Assets Control (OFAC).

➡️ The decision to freeze was made as a result of cooperation with the FBI...

➡️ Over the past couple of days, on major exchanges (Binance, Coinbase, and Kraken), a decline in the USDT exchange rate to $0.985 (instead of the expected 1:1) has been recorded. Such decoupling of CBDC indicates a loss of trust in Tether.

➡️ According to Messari, this year alone, the market capitalization of USDT exceeded $90 billion after an increase of more than 70%. Although Tether promotes this growth as evidence of sustainable demand, some investors consider it problematic. There is an opinion that Tether mints unbacked USDT to support bitcoin prices in coordination with exchanges while preventing conversion into dollars, which inevitably leads to a market crash.

The fact that the company intends to control the money it issues and submits it to the government is undoubtedly not good. If the FBI decides to shut down all “illegal” activity, people and companies involved in high-risk activities will find themselves in a very delicate position.

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