So the tether implosion is continuing, check out my previous post -> . In this one i added PAX.
Anyways we can clearly see that USDC is leading the USDT exodus. Probably all of Tethers US customers are moving into USDC and the Tether team can't keep up the peg.
The CLY 4.20 Trend Oscillator indicates that below a level of 4.20 bitcoin is underwater and can't breathe. It needs to resurface, hopefully sooner than later or otherwise we're gonna have a looooong winter..
No one knows how tether really backs up their USD. If they use actual USD they're at the mercy of legacy banks that can shut them down and if they use BTC or others assets to back up tether then they are at the mercy of the markets and the prices of their assets. Tethering ain't ezpz.. Now big boy goldman sachs has entered the stable Ecoin (Evil coin) game giving...