Tether Dollars are used on popular cryptocurrency exchanges as a crypto version of the US$ that can be traded for coins like Bitcoin and Ethereum as if they are real dollars. The theory is that a Tether Dollar (USDT) can always be redeemed for one real fiat US dollar on a 1:1 basis. That theory seems to be in dispute. Please watch this important video if you have any crypto stored on exchanges or have been considering trading crypto.
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This is an important story. Here is the coindesk article Tether Confirms Its Relationship With Auditor Has 'Dissolved'.
Here is a link to Ran Neuner tweeting about the market and Tether.
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Hey Nathan! Thanks for this post. I'm trying to finagle my recent crypto purchases. Is there any way you could take 1 minute and look at my research? I've been trying to contact you and @titusfrost. I'm onto another ring in Boston. Please give me 1 minute of your time! Please email me at [email protected]. I don't know how else to get your attention. I'm sorry, but this is important. If you want me to pay you to email me back, I will.
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Nathan, Why not think of USDT as just another crypto? Using your logic regarding USDT, shouldn't one then get ALL crypto off the "casino exchange" and onto a HARD WALLET???
FYI - Kraken does have USDT/USD but it doesn't appear that you can actually trade in USDT other than with USD as the crypto pairings are in USD (not USDT).
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