Beware of Tether USDT.... (Patreon)

Hi Team

In extreme caution mode - beware of Tether.  Rumors flying around Twitter re Tether Depeg.  Do not hold just to be safe. 

 Tether, the largest of the stablecoin issuers, has long played fast-and-loose with traditional banking regulators, but even they are being brought to heel. Previously, they’ve avoided registering with US regulators, concealed the components of their balance sheet, and operated with few reassurances for users. That was until the New York Attorney General (NYAG) brought Tether to court for deceiving users that Tethers were always backed by dollars and using Tether’s assets to cover losses in their sister company Bitfinex. The NYAG also forced Tether to begin disclosing the composition of assets it uses to back the stablecoin, allowing users to finally see Tether’s balance sheet. Since being in the public eye, Tether has moved into safer assets (primarily US Treasury Bills)—though their balance sheet likely remains too risky. Still, it is a microcosm of how traditional government institutions are influencing the crypto ecosystem.