1.4 trillion dollar class action lawsuit opened against Bitfinex and Tether. What will this mean for the cryptocurrency market?

1 answers
1 votes
1.4 trillion dollar class action lawsuit opened against Bitfinex and Tether. What will this mean for the cryptocurrency market?
asked
1.4 trillion dollar class action lawsuit opened against Bitfinex and Tether. What will this mean for the cryptocurrency market?

https://twitter.com/TheBlock__/status/1181201203012747267?s=19

Expert Answers

newest most voted

Good questions. I don’t think it means much for a regular user. The only reason people use Tether is because it has the most liquidity for a stable coin. And people use it to onboard into BTC and also off-board during volatile markets. There are also many more Fiat stable coins in the market to fill in the spot of tether if things do go south for them. So to me its a nonstarter, meaning not a problem

Imo, the crypto community was already aware of the tether fiasco, so the lawsuit was infact something you’d see coming given the allegations. I don’t see the crypto-sphere being impacted adversely by the news but rather, the way I see it is that it pegs the fact that accountability comes sooner than due with public ledgers.

Hungry for knowledge?
New guides and courses each week
Looking to invest?
Market data, analysis, and reports
Just curious?
A community of blockchain experts to help

Get started today and earn 4 bonus blocks

Already have an account? Sign In