After the night of the crypto money market, there are many new developments. Most people point out that the reason for the market is the fact that Bittrex transferred $ 110 million of Tether to unknown wallets.
Tether (USDT), which is known as digital dollar, keeps its price at 1: 1 with US dollar. That’s why most of the stock market is not dollars, so people go to Tether to be protected from the fluctuation of coins and buys them.
The Bitfinex stock exchange had previously announced to investors that Tether was a partner and 1 US dollar was deposited in the bank against 1 Tether. However, the transfer of Tether’s $ 110 million by Bitfinex to other accounts last night led to a panic. Bitfinex and Tether allegedly used the HSBC bank for transfers, which were now disabled. The fact that Bitfinex cannot be credited as soon as possible confirms this issue.
It is also among the allegations that other banks do not want and accept Tether.
The CEO of Binance has been thoroughly confused
Zhao Changpeng, CEO of Binance said a few days ago and today USDT and an alternative to PAX coin
In the description, if you are concerned about USDT, there are some statements in the form of PAX coin. Just like USDT, PAX is a crypto currency in US $ 1 = 1 PAX. It has also been regulated by the state of New York and adopted by many banks.
Zhao, who has announced that it is possible to switch to the PAX with the pair of USDT / PAX over Binance, may be signaling that the USDT will collapse and will be removed from the list by Binance.
At the moment, the price of $ 0.98 with excessive output from the USDT is at $ 1.02 due to excessive demand from PAX.
Experts in the event of a possible Bitfinex or Tether official bankruptcy of the USDT $ 0.50 will not even say that the investors will remain in the hands. In summary;
The role of Bitfinex and Tether in yesterday’s price fluctuation,
The claim that Tether’s accounts in the HSBC bank were closed,
The claim that no bank accepts Tether,
Binance CEO suggest that PAX can be changed instead of USDT
In order to avoid being affected by a possible disaster, the experts suggest going out from the USDT to PAX.
* It is not investment advice. This news was written to convey the allegations spoken in the community to the investor. Persons are free to invest in which crypto money and they cannot hold bitcoinsistemi.com accountable in case of profit or loss.