BUSD

coinfeeds-bot

tldr; Stablecoin issuers Tether and Circle have blacklisted wallet addresses linked to the North Korean hacker group, Lazarus Group, containing $4.96 million in various stablecoins including USDT, Circle, TUSD, and BUSD. This action is part of broader efforts to combat crypto-related illicit activities, with a total of $6.98 million frozen from addresses connected to the Lazarus Group. The move demonstrates the evolving efforts by the crypto community to address and mitigate the impact of illegal activities in the ecosystem. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

DaRunningdead

they no longer support BUSD

CointestMod

#Tether Con-Arguments Below is a Tether con-argument written by a deleted user. > **Tether Cons** > > **Dodgy Reserves** > > Initially, Tether asserted that each USDT was backed by a dollar in its reserves. But the truth is more nuanced, Tether is supported by a variety of: > > * Other Investments (Including Digital Tokens): 8.36% > > * Secured Loans(None To Affiliated Entities): 6.77% > > * Corporate Bonds, Funds & Precious Metals: 5.25% > > * Cash & Cash Equivalents & Other Short-Term Deposits & Commercial Paper: 79.62% > > Of the 79% cash and cash equivalents, only 10.25% is held in cash. Also to be emphasized is the lack of an independent audit of the specific breakdown of Tether's reserves. > > **Regulatory Issues** > > The Paradise Papers dump in 2017 revealed that Bitfinex and Tether are both controlled by the same individuals. The Bitfinex trading platform's owners, who also manage the tether virtual currency, have participated in a cover-up to conceal the apparent loss of $850 million dollars, according to the investigation conducted by the New York state Attorney General. Later, Tether's attorney acknowledged that only 74% of the Tether is backed. Tether is forbidden from conducting business in New York under the terms of the settlement agreement. Despite paying a $18 million punishment, Bitfinex and Tether did not confess any wrongdoing. > > **Competitors** > > * USDC: Circle and Coinbase launched USDC in 2018, and it is tied 1:1 to the US dollar. Issuers are also required to back all tokens with fiat reserves and provide monthly proof of reserves in order to guarantee that USDC maintains a continual one-to-one backing. > > * BUSD: BUSD is a stablecoin backed by USD that is 1:1 secure, compliant, and supported by Binance. It was created by Paxos and has NYDFS approval. To preserve the stability and security of the stablecoin, Paxos hires an auditing company to examine its BUSD and US Dollar supply each month. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

CointestMod

#Tether Pro-Arguments Below is a Tether pro-argument written by Nostalg33k. > # Tether, criticized but stable. > > ​ > > Tether is always the bane of all jokes. USDT despite some problems of transparency is still the best stablecoin. Let's dive in. > > ​ > > # What is a USDT or Tether: A Stablecoin > > While we argue about USDT maybe you need a reminder: USDT is a cryptocurrency (it is on blockchains and works through these digital un-modifiable ledgers) and its value is correlated to a currency which is the dollar. Therefore the name Stablecoin. While this cointest is about Tether, you need to understand the advantages of stablecoins. > > While we are waiting for a cointest about stablecoins as a whole, here is the jist of it. > > 1) Stablecoins allow you to trade without returning to your fiat. > > Stablecoins are a way to circumvent profit declarations. Trading crypto is already complicated as it is, trading crypto is very fast paced and trading crypto relies on stablecoins. The reliance on stablecoin is due to taxable events: Selling a part of your folio for fiat leads to a taxable event. If you are not planning to put money out or to try to get your losses written as a loss (which may backfire later but you do you) then you should rely on stablecoins. Trading in a USDT pair does not (yet) create a taxable event. So go yolo out there ! > > 2) Fast paced liquidity which is digitally managed by a blockchain. > > Stablecoins have the advantages of being highly liquid and being secured by blockchain. > > 3) Swapping for a stable dollar value on your Ledger. > > If you are a fan of DEX, these platform do not have a fiat ramp, so if you want to go back to a dollar valued coin which is not suffering from unstable market conditions => stablecoins. > > # The main argument is liquidity. > > While trust in Tether is lacking, anyone knows that you can transit by Tether without risking a depeg. Users have seen UST and other stable coins crumble while Tether stays standing. With a daily volume close to its circulating supply, you can trust USDT if you have to buy it or sell it. Some will be sold and bought as you need it. > > [The data of this stablecoin is showing that you can trust it](https://coinmarketcap.com/currencies/tether/) > > # The backbone of the industry. > > If you want to support the Crypto industry as a whole, USDT is the stablecoin to hold. By holding USDC you are propping up Coinbase and Bitcoin, by holding BUSD you are propping up Binance. USDT is universal right now. It is the common stablecoin which is on all platforms. Yes it has links with bitfinex but it is more generalized than other stablecoins. > > ​ > > # Nice Staking rates for small bag holders. > > A lot of platforms such as [Binance](https://www.binance.com/en/earn/usdt) offer good rates for staking USDT. Which means that you can be paid for supporting the crypto industry as a whole. This staking is safer than other cryptos since your main investment stays pegged to the dollar which has been shown to be the ultimate commodity in our inflationary cycle. > > ​ > > # Tether like any crypto can be sent from a user to another. > > USDT can be your way to send money to your friend. USDT is free to move (you still have to pay the blockchain fees). This part can be a way to on-ramp your friend into the crypto ecosystem. You can send them some money on their newly created wallet and show them the way stablecoins work. > > ​ > > # Conclusion: Advantages of a stablecoin and of market domination makes Tether the best one. > > Often people are speaking about USDT saying it should crumble under its own weight. They don't realize that the volume of USDT is so high that a large part of the market cap is actually exchanging hands. If tomorrow 20 billions or more are slashed directly from people's pockets this would create the biggest bloodbath in crypto history. Tether has become to huge to fail and its liquidity makes it the best one for users. > > It has all the advantages of a stablecoin and you should be able to trust it. It has existed for nearly 10 years and will surely exist for 10 years more ! ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

CointestMod

#Tether Con-Arguments Below is a Tether con-argument written by a deleted user. > **Tether Cons** > > **Dodgy Reserves** > > Initially, Tether asserted that each USDT was backed by a dollar in its reserves. But the truth is more nuanced, Tether is supported by a variety of: > > * Other Investments (Including Digital Tokens): 8.36% > > * Secured Loans(None To Affiliated Entities): 6.77% > > * Corporate Bonds, Funds & Precious Metals: 5.25% > > * Cash & Cash Equivalents & Other Short-Term Deposits & Commercial Paper: 79.62% > > Of the 79% cash and cash equivalents, only 10.25% is held in cash. Also to be emphasized is the lack of an independent audit of the specific breakdown of Tether's reserves. > > **Regulatory Issues** > > The Paradise Papers dump in 2017 revealed that Bitfinex and Tether are both controlled by the same individuals. The Bitfinex trading platform's owners, who also manage the tether virtual currency, have participated in a cover-up to conceal the apparent loss of $850 million dollars, according to the investigation conducted by the New York state Attorney General. Later, Tether's attorney acknowledged that only 74% of the Tether is backed. Tether is forbidden from conducting business in New York under the terms of the settlement agreement. Despite paying a $18 million punishment, Bitfinex and Tether did not confess any wrongdoing. > > **Competitors** > > * USDC: Circle and Coinbase launched USDC in 2018, and it is tied 1:1 to the US dollar. Issuers are also required to back all tokens with fiat reserves and provide monthly proof of reserves in order to guarantee that USDC maintains a continual one-to-one backing. > > * BUSD: BUSD is a stablecoin backed by USD that is 1:1 secure, compliant, and supported by Binance. It was created by Paxos and has NYDFS approval. To preserve the stability and security of the stablecoin, Paxos hires an auditing company to examine its BUSD and US Dollar supply each month. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

CointestMod

#Tether Pro-Arguments Below is a Tether pro-argument written by Nostalg33k. > # Tether, criticized but stable. > > ​ > > Tether is always the bane of all jokes. USDT despite some problems of transparency is still the best stablecoin. Let's dive in. > > ​ > > # What is a USDT or Tether: A Stablecoin > > While we argue about USDT maybe you need a reminder: USDT is a cryptocurrency (it is on blockchains and works through these digital un-modifiable ledgers) and its value is correlated to a currency which is the dollar. Therefore the name Stablecoin. While this cointest is about Tether, you need to understand the advantages of stablecoins. > > While we are waiting for a cointest about stablecoins as a whole, here is the jist of it. > > 1) Stablecoins allow you to trade without returning to your fiat. > > Stablecoins are a way to circumvent profit declarations. Trading crypto is already complicated as it is, trading crypto is very fast paced and trading crypto relies on stablecoins. The reliance on stablecoin is due to taxable events: Selling a part of your folio for fiat leads to a taxable event. If you are not planning to put money out or to try to get your losses written as a loss (which may backfire later but you do you) then you should rely on stablecoins. Trading in a USDT pair does not (yet) create a taxable event. So go yolo out there ! > > 2) Fast paced liquidity which is digitally managed by a blockchain. > > Stablecoins have the advantages of being highly liquid and being secured by blockchain. > > 3) Swapping for a stable dollar value on your Ledger. > > If you are a fan of DEX, these platform do not have a fiat ramp, so if you want to go back to a dollar valued coin which is not suffering from unstable market conditions => stablecoins. > > # The main argument is liquidity. > > While trust in Tether is lacking, anyone knows that you can transit by Tether without risking a depeg. Users have seen UST and other stable coins crumble while Tether stays standing. With a daily volume close to its circulating supply, you can trust USDT if you have to buy it or sell it. Some will be sold and bought as you need it. > > [The data of this stablecoin is showing that you can trust it](https://coinmarketcap.com/currencies/tether/) > > # The backbone of the industry. > > If you want to support the Crypto industry as a whole, USDT is the stablecoin to hold. By holding USDC you are propping up Coinbase and Bitcoin, by holding BUSD you are propping up Binance. USDT is universal right now. It is the common stablecoin which is on all platforms. Yes it has links with bitfinex but it is more generalized than other stablecoins. > > ​ > > # Nice Staking rates for small bag holders. > > A lot of platforms such as [Binance](https://www.binance.com/en/earn/usdt) offer good rates for staking USDT. Which means that you can be paid for supporting the crypto industry as a whole. This staking is safer than other cryptos since your main investment stays pegged to the dollar which has been shown to be the ultimate commodity in our inflationary cycle. > > ​ > > # Tether like any crypto can be sent from a user to another. > > USDT can be your way to send money to your friend. USDT is free to move (you still have to pay the blockchain fees). This part can be a way to on-ramp your friend into the crypto ecosystem. You can send them some money on their newly created wallet and show them the way stablecoins work. > > ​ > > # Conclusion: Advantages of a stablecoin and of market domination makes Tether the best one. > > Often people are speaking about USDT saying it should crumble under its own weight. They don't realize that the volume of USDT is so high that a large part of the market cap is actually exchanging hands. If tomorrow 20 billions or more are slashed directly from people's pockets this would create the biggest bloodbath in crypto history. Tether has become to huge to fail and its liquidity makes it the best one for users. > > It has all the advantages of a stablecoin and you should be able to trust it. It has existed for nearly 10 years and will surely exist for 10 years more ! ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

CointestMod

#Tether Con-Arguments Below is a Tether con-argument written by a deleted user. > **Tether Cons** > > **Dodgy Reserves** > > Initially, Tether asserted that each USDT was backed by a dollar in its reserves. But the truth is more nuanced, Tether is supported by a variety of: > > * Other Investments (Including Digital Tokens): 8.36% > > * Secured Loans(None To Affiliated Entities): 6.77% > > * Corporate Bonds, Funds & Precious Metals: 5.25% > > * Cash & Cash Equivalents & Other Short-Term Deposits & Commercial Paper: 79.62% > > Of the 79% cash and cash equivalents, only 10.25% is held in cash. Also to be emphasized is the lack of an independent audit of the specific breakdown of Tether's reserves. > > **Regulatory Issues** > > The Paradise Papers dump in 2017 revealed that Bitfinex and Tether are both controlled by the same individuals. The Bitfinex trading platform's owners, who also manage the tether virtual currency, have participated in a cover-up to conceal the apparent loss of $850 million dollars, according to the investigation conducted by the New York state Attorney General. Later, Tether's attorney acknowledged that only 74% of the Tether is backed. Tether is forbidden from conducting business in New York under the terms of the settlement agreement. Despite paying a $18 million punishment, Bitfinex and Tether did not confess any wrongdoing. > > **Competitors** > > * USDC: Circle and Coinbase launched USDC in 2018, and it is tied 1:1 to the US dollar. Issuers are also required to back all tokens with fiat reserves and provide monthly proof of reserves in order to guarantee that USDC maintains a continual one-to-one backing. > > * BUSD: BUSD is a stablecoin backed by USD that is 1:1 secure, compliant, and supported by Binance. It was created by Paxos and has NYDFS approval. To preserve the stability and security of the stablecoin, Paxos hires an auditing company to examine its BUSD and US Dollar supply each month. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

CointestMod

#Tether Pro-Arguments Below is a Tether pro-argument written by Nostalg33k. > # Tether, criticized but stable. > > ​ > > Tether is always the bane of all jokes. USDT despite some problems of transparency is still the best stablecoin. Let's dive in. > > ​ > > # What is a USDT or Tether: A Stablecoin > > While we argue about USDT maybe you need a reminder: USDT is a cryptocurrency (it is on blockchains and works through these digital un-modifiable ledgers) and its value is correlated to a currency which is the dollar. Therefore the name Stablecoin. While this cointest is about Tether, you need to understand the advantages of stablecoins. > > While we are waiting for a cointest about stablecoins as a whole, here is the jist of it. > > 1) Stablecoins allow you to trade without returning to your fiat. > > Stablecoins are a way to circumvent profit declarations. Trading crypto is already complicated as it is, trading crypto is very fast paced and trading crypto relies on stablecoins. The reliance on stablecoin is due to taxable events: Selling a part of your folio for fiat leads to a taxable event. If you are not planning to put money out or to try to get your losses written as a loss (which may backfire later but you do you) then you should rely on stablecoins. Trading in a USDT pair does not (yet) create a taxable event. So go yolo out there ! > > 2) Fast paced liquidity which is digitally managed by a blockchain. > > Stablecoins have the advantages of being highly liquid and being secured by blockchain. > > 3) Swapping for a stable dollar value on your Ledger. > > If you are a fan of DEX, these platform do not have a fiat ramp, so if you want to go back to a dollar valued coin which is not suffering from unstable market conditions => stablecoins. > > # The main argument is liquidity. > > While trust in Tether is lacking, anyone knows that you can transit by Tether without risking a depeg. Users have seen UST and other stable coins crumble while Tether stays standing. With a daily volume close to its circulating supply, you can trust USDT if you have to buy it or sell it. Some will be sold and bought as you need it. > > [The data of this stablecoin is showing that you can trust it](https://coinmarketcap.com/currencies/tether/) > > # The backbone of the industry. > > If you want to support the Crypto industry as a whole, USDT is the stablecoin to hold. By holding USDC you are propping up Coinbase and Bitcoin, by holding BUSD you are propping up Binance. USDT is universal right now. It is the common stablecoin which is on all platforms. Yes it has links with bitfinex but it is more generalized than other stablecoins. > > ​ > > # Nice Staking rates for small bag holders. > > A lot of platforms such as [Binance](https://www.binance.com/en/earn/usdt) offer good rates for staking USDT. Which means that you can be paid for supporting the crypto industry as a whole. This staking is safer than other cryptos since your main investment stays pegged to the dollar which has been shown to be the ultimate commodity in our inflationary cycle. > > ​ > > # Tether like any crypto can be sent from a user to another. > > USDT can be your way to send money to your friend. USDT is free to move (you still have to pay the blockchain fees). This part can be a way to on-ramp your friend into the crypto ecosystem. You can send them some money on their newly created wallet and show them the way stablecoins work. > > ​ > > # Conclusion: Advantages of a stablecoin and of market domination makes Tether the best one. > > Often people are speaking about USDT saying it should crumble under its own weight. They don't realize that the volume of USDT is so high that a large part of the market cap is actually exchanging hands. If tomorrow 20 billions or more are slashed directly from people's pockets this would create the biggest bloodbath in crypto history. Tether has become to huge to fail and its liquidity makes it the best one for users. > > It has all the advantages of a stablecoin and you should be able to trust it. It has existed for nearly 10 years and will surely exist for 10 years more ! ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

josef3110

Which - actually - means nothing. Balance of stable coins can change swiftly and fast. As was shown with BUSD last year.

CointestMod

#Tether Con-Arguments Below is a Tether con-argument written by a deleted user. > **Tether Cons** > > **Dodgy Reserves** > > Initially, Tether asserted that each USDT was backed by a dollar in its reserves. But the truth is more nuanced, Tether is supported by a variety of: > > * Other Investments (Including Digital Tokens): 8.36% > > * Secured Loans(None To Affiliated Entities): 6.77% > > * Corporate Bonds, Funds & Precious Metals: 5.25% > > * Cash & Cash Equivalents & Other Short-Term Deposits & Commercial Paper: 79.62% > > Of the 79% cash and cash equivalents, only 10.25% is held in cash. Also to be emphasized is the lack of an independent audit of the specific breakdown of Tether's reserves. > > **Regulatory Issues** > > The Paradise Papers dump in 2017 revealed that Bitfinex and Tether are both controlled by the same individuals. The Bitfinex trading platform's owners, who also manage the tether virtual currency, have participated in a cover-up to conceal the apparent loss of $850 million dollars, according to the investigation conducted by the New York state Attorney General. Later, Tether's attorney acknowledged that only 74% of the Tether is backed. Tether is forbidden from conducting business in New York under the terms of the settlement agreement. Despite paying a $18 million punishment, Bitfinex and Tether did not confess any wrongdoing. > > **Competitors** > > * USDC: Circle and Coinbase launched USDC in 2018, and it is tied 1:1 to the US dollar. Issuers are also required to back all tokens with fiat reserves and provide monthly proof of reserves in order to guarantee that USDC maintains a continual one-to-one backing. > > * BUSD: BUSD is a stablecoin backed by USD that is 1:1 secure, compliant, and supported by Binance. It was created by Paxos and has NYDFS approval. To preserve the stability and security of the stablecoin, Paxos hires an auditing company to examine its BUSD and US Dollar supply each month. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

Django_McFly

BUSD was on a massive rise in market cap and was looking like it could seriously challenge USDC's #2 spot and then the SEC lawsuit destroyed it, claiming it was an unregistered security. It gets wound down and has been fading to irrelevance ever since. Like a year later they drop another case about BUSD, deciding that it totally isn't a security at all. Shameless

coinfeeds-bot

tldr; The SEC has ended its investigation into Paxos, a New York stablecoin issuer, regarding the dollar-backed BUSD stablecoin issued in partnership with Binance. This decision, communicated by the SEC's crypto assets and cyber unit, marks a significant win for the crypto industry, particularly the stablecoin sector. The investigation's termination follows a partial defeat for the SEC in a lawsuit against Binance and suggests that stablecoins, in most cases, may not be treated as securities. This development is seen as a relief for Paxos and could bring more certainty to the market, potentially accelerating partnerships with companies like PayPal. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; The US Securities and Exchange Commission (SEC) has concluded its investigation into Paxos, the issuer of the Binance USD (BUSD) stablecoin, without taking any enforcement action. This decision comes after a year of scrutiny following a Wells notice that hinted at potential enforcement over Paxos' involvement with the dollar-backed BUSD. A recent federal judge's ruling supported Paxos' stance that BUSD sales did not violate securities law. Paxos, which also issues other regulated digital assets, views this outcome as a positive step towards broader stablecoin adoption, emphasizing the potential of well-designed stablecoins to enhance the financial system. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

CointestMod

#Tether Con-Arguments Below is a Tether con-argument written by a deleted user. > **Tether Cons** > > **Dodgy Reserves** > > Initially, Tether asserted that each USDT was backed by a dollar in its reserves. But the truth is more nuanced, Tether is supported by a variety of: > > * Other Investments (Including Digital Tokens): 8.36% > > * Secured Loans(None To Affiliated Entities): 6.77% > > * Corporate Bonds, Funds & Precious Metals: 5.25% > > * Cash & Cash Equivalents & Other Short-Term Deposits & Commercial Paper: 79.62% > > Of the 79% cash and cash equivalents, only 10.25% is held in cash. Also to be emphasized is the lack of an independent audit of the specific breakdown of Tether's reserves. > > **Regulatory Issues** > > The Paradise Papers dump in 2017 revealed that Bitfinex and Tether are both controlled by the same individuals. The Bitfinex trading platform's owners, who also manage the tether virtual currency, have participated in a cover-up to conceal the apparent loss of $850 million dollars, according to the investigation conducted by the New York state Attorney General. Later, Tether's attorney acknowledged that only 74% of the Tether is backed. Tether is forbidden from conducting business in New York under the terms of the settlement agreement. Despite paying a $18 million punishment, Bitfinex and Tether did not confess any wrongdoing. > > **Competitors** > > * USDC: Circle and Coinbase launched USDC in 2018, and it is tied 1:1 to the US dollar. Issuers are also required to back all tokens with fiat reserves and provide monthly proof of reserves in order to guarantee that USDC maintains a continual one-to-one backing. > > * BUSD: BUSD is a stablecoin backed by USD that is 1:1 secure, compliant, and supported by Binance. It was created by Paxos and has NYDFS approval. To preserve the stability and security of the stablecoin, Paxos hires an auditing company to examine its BUSD and US Dollar supply each month. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

CointestMod

#Tether Pro-Arguments Below is a Tether pro-argument written by Nostalg33k. > # Tether, criticized but stable. > > ​ > > Tether is always the bane of all jokes. USDT despite some problems of transparency is still the best stablecoin. Let's dive in. > > ​ > > # What is a USDT or Tether: A Stablecoin > > While we argue about USDT maybe you need a reminder: USDT is a cryptocurrency (it is on blockchains and works through these digital un-modifiable ledgers) and its value is correlated to a currency which is the dollar. Therefore the name Stablecoin. While this cointest is about Tether, you need to understand the advantages of stablecoins. > > While we are waiting for a cointest about stablecoins as a whole, here is the jist of it. > > 1) Stablecoins allow you to trade without returning to your fiat. > > Stablecoins are a way to circumvent profit declarations. Trading crypto is already complicated as it is, trading crypto is very fast paced and trading crypto relies on stablecoins. The reliance on stablecoin is due to taxable events: Selling a part of your folio for fiat leads to a taxable event. If you are not planning to put money out or to try to get your losses written as a loss (which may backfire later but you do you) then you should rely on stablecoins. Trading in a USDT pair does not (yet) create a taxable event. So go yolo out there ! > > 2) Fast paced liquidity which is digitally managed by a blockchain. > > Stablecoins have the advantages of being highly liquid and being secured by blockchain. > > 3) Swapping for a stable dollar value on your Ledger. > > If you are a fan of DEX, these platform do not have a fiat ramp, so if you want to go back to a dollar valued coin which is not suffering from unstable market conditions => stablecoins. > > # The main argument is liquidity. > > While trust in Tether is lacking, anyone knows that you can transit by Tether without risking a depeg. Users have seen UST and other stable coins crumble while Tether stays standing. With a daily volume close to its circulating supply, you can trust USDT if you have to buy it or sell it. Some will be sold and bought as you need it. > > [The data of this stablecoin is showing that you can trust it](https://coinmarketcap.com/currencies/tether/) > > # The backbone of the industry. > > If you want to support the Crypto industry as a whole, USDT is the stablecoin to hold. By holding USDC you are propping up Coinbase and Bitcoin, by holding BUSD you are propping up Binance. USDT is universal right now. It is the common stablecoin which is on all platforms. Yes it has links with bitfinex but it is more generalized than other stablecoins. > > ​ > > # Nice Staking rates for small bag holders. > > A lot of platforms such as [Binance](https://www.binance.com/en/earn/usdt) offer good rates for staking USDT. Which means that you can be paid for supporting the crypto industry as a whole. This staking is safer than other cryptos since your main investment stays pegged to the dollar which has been shown to be the ultimate commodity in our inflationary cycle. > > ​ > > # Tether like any crypto can be sent from a user to another. > > USDT can be your way to send money to your friend. USDT is free to move (you still have to pay the blockchain fees). This part can be a way to on-ramp your friend into the crypto ecosystem. You can send them some money on their newly created wallet and show them the way stablecoins work. > > ​ > > # Conclusion: Advantages of a stablecoin and of market domination makes Tether the best one. > > Often people are speaking about USDT saying it should crumble under its own weight. They don't realize that the volume of USDT is so high that a large part of the market cap is actually exchanging hands. If tomorrow 20 billions or more are slashed directly from people's pockets this would create the biggest bloodbath in crypto history. Tether has become to huge to fail and its liquidity makes it the best one for users. > > It has all the advantages of a stablecoin and you should be able to trust it. It has existed for nearly 10 years and will surely exist for 10 years more ! ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

coinfeeds-bot

tldr; The US Securities and Exchange Commission (SEC) lost its bid to classify BNB, Binance’s native token, and the Binance USD (BUSD) stablecoin as securities in secondary market sales, according to a court ruling. The court found the SEC's argument that BNB tokens represent investment contracts throughout their lifecycle insufficient, emphasizing the need to consider the specific details and context of each secondary transaction. This dismissal could influence other cases involving crypto exchanges and is seen as a win for the broader crypto industry, despite the court siding with the SEC on other aspects of its lawsuit against Binance. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

xrm4

I'm confused. Compare EURD to BUSD: - They're both backed 1 to 1 to the currency that they're pegged to. - They both follow strict regulatory frameworks to ensure that their value is protected. - They both operate on blockchain technology. Yet we categorize BUSD as a stablecoin and EURD as digital money. From my perspective, there really isn't much difference between these two products other than the regulatory frameworks which they follow.

TeslaElon69420

Why did you buy a stablecoin? (BUSD) Lmao

CointestMod

#Tether Con-Arguments Below is a Tether con-argument written by a deleted user. > **Tether Cons** > > **Dodgy Reserves** > > Initially, Tether asserted that each USDT was backed by a dollar in its reserves. But the truth is more nuanced, Tether is supported by a variety of: > > * Other Investments (Including Digital Tokens): 8.36% > > * Secured Loans(None To Affiliated Entities): 6.77% > > * Corporate Bonds, Funds & Precious Metals: 5.25% > > * Cash & Cash Equivalents & Other Short-Term Deposits & Commercial Paper: 79.62% > > Of the 79% cash and cash equivalents, only 10.25% is held in cash. Also to be emphasized is the lack of an independent audit of the specific breakdown of Tether's reserves. > > **Regulatory Issues** > > The Paradise Papers dump in 2017 revealed that Bitfinex and Tether are both controlled by the same individuals. The Bitfinex trading platform's owners, who also manage the tether virtual currency, have participated in a cover-up to conceal the apparent loss of $850 million dollars, according to the investigation conducted by the New York state Attorney General. Later, Tether's attorney acknowledged that only 74% of the Tether is backed. Tether is forbidden from conducting business in New York under the terms of the settlement agreement. Despite paying a $18 million punishment, Bitfinex and Tether did not confess any wrongdoing. > > **Competitors** > > * USDC: Circle and Coinbase launched USDC in 2018, and it is tied 1:1 to the US dollar. Issuers are also required to back all tokens with fiat reserves and provide monthly proof of reserves in order to guarantee that USDC maintains a continual one-to-one backing. > > * BUSD: BUSD is a stablecoin backed by USD that is 1:1 secure, compliant, and supported by Binance. It was created by Paxos and has NYDFS approval. To preserve the stability and security of the stablecoin, Paxos hires an auditing company to examine its BUSD and US Dollar supply each month. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

WasMitDeKohln

Can somebody send me 1$ in BNB for gas to my metamask. I have 190 BUSD on it but can’t move, Will send 5$ back. BSC: 0x2c5E27E0C527Df80199ac54c39015873428454f8

CointestMod

#Tether Con-Arguments Below is a Tether con-argument written by a deleted user. > **Tether Cons** > > **Dodgy Reserves** > > Initially, Tether asserted that each USDT was backed by a dollar in its reserves. But the truth is more nuanced, Tether is supported by a variety of: > > * Other Investments (Including Digital Tokens): 8.36% > > * Secured Loans(None To Affiliated Entities): 6.77% > > * Corporate Bonds, Funds & Precious Metals: 5.25% > > * Cash & Cash Equivalents & Other Short-Term Deposits & Commercial Paper: 79.62% > > Of the 79% cash and cash equivalents, only 10.25% is held in cash. Also to be emphasized is the lack of an independent audit of the specific breakdown of Tether's reserves. > > **Regulatory Issues** > > The Paradise Papers dump in 2017 revealed that Bitfinex and Tether are both controlled by the same individuals. The Bitfinex trading platform's owners, who also manage the tether virtual currency, have participated in a cover-up to conceal the apparent loss of $850 million dollars, according to the investigation conducted by the New York state Attorney General. Later, Tether's attorney acknowledged that only 74% of the Tether is backed. Tether is forbidden from conducting business in New York under the terms of the settlement agreement. Despite paying a $18 million punishment, Bitfinex and Tether did not confess any wrongdoing. > > **Competitors** > > * USDC: Circle and Coinbase launched USDC in 2018, and it is tied 1:1 to the US dollar. Issuers are also required to back all tokens with fiat reserves and provide monthly proof of reserves in order to guarantee that USDC maintains a continual one-to-one backing. > > * BUSD: BUSD is a stablecoin backed by USD that is 1:1 secure, compliant, and supported by Binance. It was created by Paxos and has NYDFS approval. To preserve the stability and security of the stablecoin, Paxos hires an auditing company to examine its BUSD and US Dollar supply each month. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

CointestMod

#Tether Con-Arguments Below is a Tether con-argument written by a deleted user. > **Tether Cons** > > **Dodgy Reserves** > > Initially, Tether asserted that each USDT was backed by a dollar in its reserves. But the truth is more nuanced, Tether is supported by a variety of: > > * Other Investments (Including Digital Tokens): 8.36% > > * Secured Loans(None To Affiliated Entities): 6.77% > > * Corporate Bonds, Funds & Precious Metals: 5.25% > > * Cash & Cash Equivalents & Other Short-Term Deposits & Commercial Paper: 79.62% > > Of the 79% cash and cash equivalents, only 10.25% is held in cash. Also to be emphasized is the lack of an independent audit of the specific breakdown of Tether's reserves. > > **Regulatory Issues** > > The Paradise Papers dump in 2017 revealed that Bitfinex and Tether are both controlled by the same individuals. The Bitfinex trading platform's owners, who also manage the tether virtual currency, have participated in a cover-up to conceal the apparent loss of $850 million dollars, according to the investigation conducted by the New York state Attorney General. Later, Tether's attorney acknowledged that only 74% of the Tether is backed. Tether is forbidden from conducting business in New York under the terms of the settlement agreement. Despite paying a $18 million punishment, Bitfinex and Tether did not confess any wrongdoing. > > **Competitors** > > * USDC: Circle and Coinbase launched USDC in 2018, and it is tied 1:1 to the US dollar. Issuers are also required to back all tokens with fiat reserves and provide monthly proof of reserves in order to guarantee that USDC maintains a continual one-to-one backing. > > * BUSD: BUSD is a stablecoin backed by USD that is 1:1 secure, compliant, and supported by Binance. It was created by Paxos and has NYDFS approval. To preserve the stability and security of the stablecoin, Paxos hires an auditing company to examine its BUSD and US Dollar supply each month. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

CointestMod

#Tether Pro-Arguments Below is a Tether pro-argument written by Nostalg33k. > # Tether, criticized but stable. > > ​ > > Tether is always the bane of all jokes. USDT despite some problems of transparency is still the best stablecoin. Let's dive in. > > ​ > > # What is a USDT or Tether: A Stablecoin > > While we argue about USDT maybe you need a reminder: USDT is a cryptocurrency (it is on blockchains and works through these digital un-modifiable ledgers) and its value is correlated to a currency which is the dollar. Therefore the name Stablecoin. While this cointest is about Tether, you need to understand the advantages of stablecoins. > > While we are waiting for a cointest about stablecoins as a whole, here is the jist of it. > > 1) Stablecoins allow you to trade without returning to your fiat. > > Stablecoins are a way to circumvent profit declarations. Trading crypto is already complicated as it is, trading crypto is very fast paced and trading crypto relies on stablecoins. The reliance on stablecoin is due to taxable events: Selling a part of your folio for fiat leads to a taxable event. If you are not planning to put money out or to try to get your losses written as a loss (which may backfire later but you do you) then you should rely on stablecoins. Trading in a USDT pair does not (yet) create a taxable event. So go yolo out there ! > > 2) Fast paced liquidity which is digitally managed by a blockchain. > > Stablecoins have the advantages of being highly liquid and being secured by blockchain. > > 3) Swapping for a stable dollar value on your Ledger. > > If you are a fan of DEX, these platform do not have a fiat ramp, so if you want to go back to a dollar valued coin which is not suffering from unstable market conditions => stablecoins. > > # The main argument is liquidity. > > While trust in Tether is lacking, anyone knows that you can transit by Tether without risking a depeg. Users have seen UST and other stable coins crumble while Tether stays standing. With a daily volume close to its circulating supply, you can trust USDT if you have to buy it or sell it. Some will be sold and bought as you need it. > > [The data of this stablecoin is showing that you can trust it](https://coinmarketcap.com/currencies/tether/) > > # The backbone of the industry. > > If you want to support the Crypto industry as a whole, USDT is the stablecoin to hold. By holding USDC you are propping up Coinbase and Bitcoin, by holding BUSD you are propping up Binance. USDT is universal right now. It is the common stablecoin which is on all platforms. Yes it has links with bitfinex but it is more generalized than other stablecoins. > > ​ > > # Nice Staking rates for small bag holders. > > A lot of platforms such as [Binance](https://www.binance.com/en/earn/usdt) offer good rates for staking USDT. Which means that you can be paid for supporting the crypto industry as a whole. This staking is safer than other cryptos since your main investment stays pegged to the dollar which has been shown to be the ultimate commodity in our inflationary cycle. > > ​ > > # Tether like any crypto can be sent from a user to another. > > USDT can be your way to send money to your friend. USDT is free to move (you still have to pay the blockchain fees). This part can be a way to on-ramp your friend into the crypto ecosystem. You can send them some money on their newly created wallet and show them the way stablecoins work. > > ​ > > # Conclusion: Advantages of a stablecoin and of market domination makes Tether the best one. > > Often people are speaking about USDT saying it should crumble under its own weight. They don't realize that the volume of USDT is so high that a large part of the market cap is actually exchanging hands. If tomorrow 20 billions or more are slashed directly from people's pockets this would create the biggest bloodbath in crypto history. Tether has become to huge to fail and its liquidity makes it the best one for users. > > It has all the advantages of a stablecoin and you should be able to trust it. It has existed for nearly 10 years and will surely exist for 10 years more ! ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

CointestMod

#Tether Con-Arguments Below is a Tether con-argument written by a deleted user. > **Tether Cons** > > **Dodgy Reserves** > > Initially, Tether asserted that each USDT was backed by a dollar in its reserves. But the truth is more nuanced, Tether is supported by a variety of: > > * Other Investments (Including Digital Tokens): 8.36% > > * Secured Loans(None To Affiliated Entities): 6.77% > > * Corporate Bonds, Funds & Precious Metals: 5.25% > > * Cash & Cash Equivalents & Other Short-Term Deposits & Commercial Paper: 79.62% > > Of the 79% cash and cash equivalents, only 10.25% is held in cash. Also to be emphasized is the lack of an independent audit of the specific breakdown of Tether's reserves. > > **Regulatory Issues** > > The Paradise Papers dump in 2017 revealed that Bitfinex and Tether are both controlled by the same individuals. The Bitfinex trading platform's owners, who also manage the tether virtual currency, have participated in a cover-up to conceal the apparent loss of $850 million dollars, according to the investigation conducted by the New York state Attorney General. Later, Tether's attorney acknowledged that only 74% of the Tether is backed. Tether is forbidden from conducting business in New York under the terms of the settlement agreement. Despite paying a $18 million punishment, Bitfinex and Tether did not confess any wrongdoing. > > **Competitors** > > * USDC: Circle and Coinbase launched USDC in 2018, and it is tied 1:1 to the US dollar. Issuers are also required to back all tokens with fiat reserves and provide monthly proof of reserves in order to guarantee that USDC maintains a continual one-to-one backing. > > * BUSD: BUSD is a stablecoin backed by USD that is 1:1 secure, compliant, and supported by Binance. It was created by Paxos and has NYDFS approval. To preserve the stability and security of the stablecoin, Paxos hires an auditing company to examine its BUSD and US Dollar supply each month. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

CointestMod

#Tether Pro-Arguments Below is a Tether pro-argument written by Nostalg33k. > # Tether, criticized but stable. > > ​ > > Tether is always the bane of all jokes. USDT despite some problems of transparency is still the best stablecoin. Let's dive in. > > ​ > > # What is a USDT or Tether: A Stablecoin > > While we argue about USDT maybe you need a reminder: USDT is a cryptocurrency (it is on blockchains and works through these digital un-modifiable ledgers) and its value is correlated to a currency which is the dollar. Therefore the name Stablecoin. While this cointest is about Tether, you need to understand the advantages of stablecoins. > > While we are waiting for a cointest about stablecoins as a whole, here is the jist of it. > > 1) Stablecoins allow you to trade without returning to your fiat. > > Stablecoins are a way to circumvent profit declarations. Trading crypto is already complicated as it is, trading crypto is very fast paced and trading crypto relies on stablecoins. The reliance on stablecoin is due to taxable events: Selling a part of your folio for fiat leads to a taxable event. If you are not planning to put money out or to try to get your losses written as a loss (which may backfire later but you do you) then you should rely on stablecoins. Trading in a USDT pair does not (yet) create a taxable event. So go yolo out there ! > > 2) Fast paced liquidity which is digitally managed by a blockchain. > > Stablecoins have the advantages of being highly liquid and being secured by blockchain. > > 3) Swapping for a stable dollar value on your Ledger. > > If you are a fan of DEX, these platform do not have a fiat ramp, so if you want to go back to a dollar valued coin which is not suffering from unstable market conditions => stablecoins. > > # The main argument is liquidity. > > While trust in Tether is lacking, anyone knows that you can transit by Tether without risking a depeg. Users have seen UST and other stable coins crumble while Tether stays standing. With a daily volume close to its circulating supply, you can trust USDT if you have to buy it or sell it. Some will be sold and bought as you need it. > > [The data of this stablecoin is showing that you can trust it](https://coinmarketcap.com/currencies/tether/) > > # The backbone of the industry. > > If you want to support the Crypto industry as a whole, USDT is the stablecoin to hold. By holding USDC you are propping up Coinbase and Bitcoin, by holding BUSD you are propping up Binance. USDT is universal right now. It is the common stablecoin which is on all platforms. Yes it has links with bitfinex but it is more generalized than other stablecoins. > > ​ > > # Nice Staking rates for small bag holders. > > A lot of platforms such as [Binance](https://www.binance.com/en/earn/usdt) offer good rates for staking USDT. Which means that you can be paid for supporting the crypto industry as a whole. This staking is safer than other cryptos since your main investment stays pegged to the dollar which has been shown to be the ultimate commodity in our inflationary cycle. > > ​ > > # Tether like any crypto can be sent from a user to another. > > USDT can be your way to send money to your friend. USDT is free to move (you still have to pay the blockchain fees). This part can be a way to on-ramp your friend into the crypto ecosystem. You can send them some money on their newly created wallet and show them the way stablecoins work. > > ​ > > # Conclusion: Advantages of a stablecoin and of market domination makes Tether the best one. > > Often people are speaking about USDT saying it should crumble under its own weight. They don't realize that the volume of USDT is so high that a large part of the market cap is actually exchanging hands. If tomorrow 20 billions or more are slashed directly from people's pockets this would create the biggest bloodbath in crypto history. Tether has become to huge to fail and its liquidity makes it the best one for users. > > It has all the advantages of a stablecoin and you should be able to trust it. It has existed for nearly 10 years and will surely exist for 10 years more ! ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

TotallyNotAHostage

Hey, all. I have a decent amount of BEP2 BUSD on Trust Wallet and I don't have enough BNB BEP2 for the transaction fees. I tried to swap some BEP20 BUSD over to BEP2 but that's not working, and neither is swapping the BEP2 BUSD for the BEP2 BNB. Can anyone tell me how I can get some BEP2 BNB? Or alternative solutions? I don't have a Binance account. I don't want to use that Transakt or whatever it's called, Reddit doesn't seem to like it much. It's only like five bucks, maybe if someone could spot me some it'd be great. Will pay back if you'd like.

jeetsstizzard

Try USDC. They've been open about their reserve backing and do monthly attestations from top accounting firms. The downside is it's still heavily USD-based, so not a perfect hedge if you're worried about the greenback going down. Another good option is DAI, which is a bit different since it’s a decentralized stablecoin. It is backed by a mix of other crypto rather than fiat money and it is managed by the MakerDAO community. The code is open source and there's no central issuer, so it avoids a lot of the centralization risks. The downside is the complexity of the system and it can be unstable during extreme volatility. There is also BUSD. Like USDC, it’s backed by US dollars held in FDIC-insured American banks. Also, it's issued by Paxos in partnership with Binance and is regulated by the New York State Department of Financial Services. Just a piece of advice, when I am figuring out which stablecoin to use, I spend a lot of time on the Traders Union. This page has tons of expert reviews and comparisons, where you can pin down the pros and cons of each stablecoin. They break things down in an easy way, which is awesome. No matter what though, make sure to do your own research!

CointestMod

#Tether Pro-Arguments Below is a Tether pro-argument written by Nostalg33k. > # Tether, criticized but stable. > > ​ > > Tether is always the bane of all jokes. USDT despite some problems of transparency is still the best stablecoin. Let's dive in. > > ​ > > # What is a USDT or Tether: A Stablecoin > > While we argue about USDT maybe you need a reminder: USDT is a cryptocurrency (it is on blockchains and works through these digital un-modifiable ledgers) and its value is correlated to a currency which is the dollar. Therefore the name Stablecoin. While this cointest is about Tether, you need to understand the advantages of stablecoins. > > While we are waiting for a cointest about stablecoins as a whole, here is the jist of it. > > 1) Stablecoins allow you to trade without returning to your fiat. > > Stablecoins are a way to circumvent profit declarations. Trading crypto is already complicated as it is, trading crypto is very fast paced and trading crypto relies on stablecoins. The reliance on stablecoin is due to taxable events: Selling a part of your folio for fiat leads to a taxable event. If you are not planning to put money out or to try to get your losses written as a loss (which may backfire later but you do you) then you should rely on stablecoins. Trading in a USDT pair does not (yet) create a taxable event. So go yolo out there ! > > 2) Fast paced liquidity which is digitally managed by a blockchain. > > Stablecoins have the advantages of being highly liquid and being secured by blockchain. > > 3) Swapping for a stable dollar value on your Ledger. > > If you are a fan of DEX, these platform do not have a fiat ramp, so if you want to go back to a dollar valued coin which is not suffering from unstable market conditions => stablecoins. > > # The main argument is liquidity. > > While trust in Tether is lacking, anyone knows that you can transit by Tether without risking a depeg. Users have seen UST and other stable coins crumble while Tether stays standing. With a daily volume close to its circulating supply, you can trust USDT if you have to buy it or sell it. Some will be sold and bought as you need it. > > [The data of this stablecoin is showing that you can trust it](https://coinmarketcap.com/currencies/tether/) > > # The backbone of the industry. > > If you want to support the Crypto industry as a whole, USDT is the stablecoin to hold. By holding USDC you are propping up Coinbase and Bitcoin, by holding BUSD you are propping up Binance. USDT is universal right now. It is the common stablecoin which is on all platforms. Yes it has links with bitfinex but it is more generalized than other stablecoins. > > ​ > > # Nice Staking rates for small bag holders. > > A lot of platforms such as [Binance](https://www.binance.com/en/earn/usdt) offer good rates for staking USDT. Which means that you can be paid for supporting the crypto industry as a whole. This staking is safer than other cryptos since your main investment stays pegged to the dollar which has been shown to be the ultimate commodity in our inflationary cycle. > > ​ > > # Tether like any crypto can be sent from a user to another. > > USDT can be your way to send money to your friend. USDT is free to move (you still have to pay the blockchain fees). This part can be a way to on-ramp your friend into the crypto ecosystem. You can send them some money on their newly created wallet and show them the way stablecoins work. > > ​ > > # Conclusion: Advantages of a stablecoin and of market domination makes Tether the best one. > > Often people are speaking about USDT saying it should crumble under its own weight. They don't realize that the volume of USDT is so high that a large part of the market cap is actually exchanging hands. If tomorrow 20 billions or more are slashed directly from people's pockets this would create the biggest bloodbath in crypto history. Tether has become to huge to fail and its liquidity makes it the best one for users. > > It has all the advantages of a stablecoin and you should be able to trust it. It has existed for nearly 10 years and will surely exist for 10 years more ! ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

CointestMod

#Tether Con-Arguments Below is a Tether con-argument written by a deleted user. > **Tether Cons** > > **Dodgy Reserves** > > Initially, Tether asserted that each USDT was backed by a dollar in its reserves. But the truth is more nuanced, Tether is supported by a variety of: > > * Other Investments (Including Digital Tokens): 8.36% > > * Secured Loans(None To Affiliated Entities): 6.77% > > * Corporate Bonds, Funds & Precious Metals: 5.25% > > * Cash & Cash Equivalents & Other Short-Term Deposits & Commercial Paper: 79.62% > > Of the 79% cash and cash equivalents, only 10.25% is held in cash. Also to be emphasized is the lack of an independent audit of the specific breakdown of Tether's reserves. > > **Regulatory Issues** > > The Paradise Papers dump in 2017 revealed that Bitfinex and Tether are both controlled by the same individuals. The Bitfinex trading platform's owners, who also manage the tether virtual currency, have participated in a cover-up to conceal the apparent loss of $850 million dollars, according to the investigation conducted by the New York state Attorney General. Later, Tether's attorney acknowledged that only 74% of the Tether is backed. Tether is forbidden from conducting business in New York under the terms of the settlement agreement. Despite paying a $18 million punishment, Bitfinex and Tether did not confess any wrongdoing. > > **Competitors** > > * USDC: Circle and Coinbase launched USDC in 2018, and it is tied 1:1 to the US dollar. Issuers are also required to back all tokens with fiat reserves and provide monthly proof of reserves in order to guarantee that USDC maintains a continual one-to-one backing. > > * BUSD: BUSD is a stablecoin backed by USD that is 1:1 secure, compliant, and supported by Binance. It was created by Paxos and has NYDFS approval. To preserve the stability and security of the stablecoin, Paxos hires an auditing company to examine its BUSD and US Dollar supply each month. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

CointestMod

#Tether Pro-Arguments Below is a Tether pro-argument written by Nostalg33k. > # Tether, criticized but stable. > > ​ > > Tether is always the bane of all jokes. USDT despite some problems of transparency is still the best stablecoin. Let's dive in. > > ​ > > # What is a USDT or Tether: A Stablecoin > > While we argue about USDT maybe you need a reminder: USDT is a cryptocurrency (it is on blockchains and works through these digital un-modifiable ledgers) and its value is correlated to a currency which is the dollar. Therefore the name Stablecoin. While this cointest is about Tether, you need to understand the advantages of stablecoins. > > While we are waiting for a cointest about stablecoins as a whole, here is the jist of it. > > 1) Stablecoins allow you to trade without returning to your fiat. > > Stablecoins are a way to circumvent profit declarations. Trading crypto is already complicated as it is, trading crypto is very fast paced and trading crypto relies on stablecoins. The reliance on stablecoin is due to taxable events: Selling a part of your folio for fiat leads to a taxable event. If you are not planning to put money out or to try to get your losses written as a loss (which may backfire later but you do you) then you should rely on stablecoins. Trading in a USDT pair does not (yet) create a taxable event. So go yolo out there ! > > 2) Fast paced liquidity which is digitally managed by a blockchain. > > Stablecoins have the advantages of being highly liquid and being secured by blockchain. > > 3) Swapping for a stable dollar value on your Ledger. > > If you are a fan of DEX, these platform do not have a fiat ramp, so if you want to go back to a dollar valued coin which is not suffering from unstable market conditions => stablecoins. > > # The main argument is liquidity. > > While trust in Tether is lacking, anyone knows that you can transit by Tether without risking a depeg. Users have seen UST and other stable coins crumble while Tether stays standing. With a daily volume close to its circulating supply, you can trust USDT if you have to buy it or sell it. Some will be sold and bought as you need it. > > [The data of this stablecoin is showing that you can trust it](https://coinmarketcap.com/currencies/tether/) > > # The backbone of the industry. > > If you want to support the Crypto industry as a whole, USDT is the stablecoin to hold. By holding USDC you are propping up Coinbase and Bitcoin, by holding BUSD you are propping up Binance. USDT is universal right now. It is the common stablecoin which is on all platforms. Yes it has links with bitfinex but it is more generalized than other stablecoins. > > ​ > > # Nice Staking rates for small bag holders. > > A lot of platforms such as [Binance](https://www.binance.com/en/earn/usdt) offer good rates for staking USDT. Which means that you can be paid for supporting the crypto industry as a whole. This staking is safer than other cryptos since your main investment stays pegged to the dollar which has been shown to be the ultimate commodity in our inflationary cycle. > > ​ > > # Tether like any crypto can be sent from a user to another. > > USDT can be your way to send money to your friend. USDT is free to move (you still have to pay the blockchain fees). This part can be a way to on-ramp your friend into the crypto ecosystem. You can send them some money on their newly created wallet and show them the way stablecoins work. > > ​ > > # Conclusion: Advantages of a stablecoin and of market domination makes Tether the best one. > > Often people are speaking about USDT saying it should crumble under its own weight. They don't realize that the volume of USDT is so high that a large part of the market cap is actually exchanging hands. If tomorrow 20 billions or more are slashed directly from people's pockets this would create the biggest bloodbath in crypto history. Tether has become to huge to fail and its liquidity makes it the best one for users. > > It has all the advantages of a stablecoin and you should be able to trust it. It has existed for nearly 10 years and will surely exist for 10 years more ! ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

CointestMod

#Tether Con-Arguments Below is a Tether con-argument written by a deleted user. > **Tether Cons** > > **Dodgy Reserves** > > Initially, Tether asserted that each USDT was backed by a dollar in its reserves. But the truth is more nuanced, Tether is supported by a variety of: > > * Other Investments (Including Digital Tokens): 8.36% > > * Secured Loans(None To Affiliated Entities): 6.77% > > * Corporate Bonds, Funds & Precious Metals: 5.25% > > * Cash & Cash Equivalents & Other Short-Term Deposits & Commercial Paper: 79.62% > > Of the 79% cash and cash equivalents, only 10.25% is held in cash. Also to be emphasized is the lack of an independent audit of the specific breakdown of Tether's reserves. > > **Regulatory Issues** > > The Paradise Papers dump in 2017 revealed that Bitfinex and Tether are both controlled by the same individuals. The Bitfinex trading platform's owners, who also manage the tether virtual currency, have participated in a cover-up to conceal the apparent loss of $850 million dollars, according to the investigation conducted by the New York state Attorney General. Later, Tether's attorney acknowledged that only 74% of the Tether is backed. Tether is forbidden from conducting business in New York under the terms of the settlement agreement. Despite paying a $18 million punishment, Bitfinex and Tether did not confess any wrongdoing. > > **Competitors** > > * USDC: Circle and Coinbase launched USDC in 2018, and it is tied 1:1 to the US dollar. Issuers are also required to back all tokens with fiat reserves and provide monthly proof of reserves in order to guarantee that USDC maintains a continual one-to-one backing. > > * BUSD: BUSD is a stablecoin backed by USD that is 1:1 secure, compliant, and supported by Binance. It was created by Paxos and has NYDFS approval. To preserve the stability and security of the stablecoin, Paxos hires an auditing company to examine its BUSD and US Dollar supply each month. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

YogSothothIsTheKey

I want to say thank you to CZ,he protect Binance users funds for real,safu wasnt a lie.Thats a big difference with SBF and FTX.Theres no innocent in this sector I think,probably any or almost all the Ceo of exchanges,brokers,market makers,hedge funds etc etc have dirty hands,but at least we can absolutely say with proud CZ WORK GOOD.He open the first bigger crypto exchange in the world,bringing on board millions of people in this sector.He dismiss and delete his stablecoin BUSD without users loss their money,doing gradually without a depeg after the law problems with SEC.He protect users money in general quitting his job and collaborating with the US government about his lawsuit of money laundering.He wasnt forced to go to US,he's not an american citizen,but he know that choice was bad for Binance so he didnt escape or other shit.So thank you CZ for all what you did to improve our communty and all good work.Good job,we well see to the moon!

CointestMod

#Tether Con-Arguments Below is a Tether con-argument written by a deleted user. > **Tether Cons** > > **Dodgy Reserves** > > Initially, Tether asserted that each USDT was backed by a dollar in its reserves. But the truth is more nuanced, Tether is supported by a variety of: > > * Other Investments (Including Digital Tokens): 8.36% > > * Secured Loans(None To Affiliated Entities): 6.77% > > * Corporate Bonds, Funds & Precious Metals: 5.25% > > * Cash & Cash Equivalents & Other Short-Term Deposits & Commercial Paper: 79.62% > > Of the 79% cash and cash equivalents, only 10.25% is held in cash. Also to be emphasized is the lack of an independent audit of the specific breakdown of Tether's reserves. > > **Regulatory Issues** > > The Paradise Papers dump in 2017 revealed that Bitfinex and Tether are both controlled by the same individuals. The Bitfinex trading platform's owners, who also manage the tether virtual currency, have participated in a cover-up to conceal the apparent loss of $850 million dollars, according to the investigation conducted by the New York state Attorney General. Later, Tether's attorney acknowledged that only 74% of the Tether is backed. Tether is forbidden from conducting business in New York under the terms of the settlement agreement. Despite paying a $18 million punishment, Bitfinex and Tether did not confess any wrongdoing. > > **Competitors** > > * USDC: Circle and Coinbase launched USDC in 2018, and it is tied 1:1 to the US dollar. Issuers are also required to back all tokens with fiat reserves and provide monthly proof of reserves in order to guarantee that USDC maintains a continual one-to-one backing. > > * BUSD: BUSD is a stablecoin backed by USD that is 1:1 secure, compliant, and supported by Binance. It was created by Paxos and has NYDFS approval. To preserve the stability and security of the stablecoin, Paxos hires an auditing company to examine its BUSD and US Dollar supply each month. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

Dark_Raiden_

Wtf r u doing with BUSD then lol. Go on DEX on Ur wallet and swap it out for WBNB or something. Cmc says there's a few pairs on pancake swap with enough liquidity

Fair_Raccoon9333

Why not just look up BUSD's price on CMC or Coingecko like a normal human being?

OptimusChaim

Wow, just been checked out for a while and saw BUSD had some happenings, literally just wanted to know if i lost my money, as it is pretty easy to do in this space.

OptimusChaim

If i still have BUSD in a wallet, is it possible to change it to another coin or am i SOL?

BlackMagic_19

I know what happened. BUSD isn’t tradable anymore. The exchange rate is not 1:1. Wherever you try to swap it, it will give a few dollars for thousands.

Swerve99

nope. seamless bridge i’ve moved hundreds of thousands through. always fair fee structure and it’s easy to see exactly what will show up on the other side of the bridge. betting you fucked somthing up. also you don’t bridge BUSD to USD. you bridge assets from blockchains to different blockchains.

CointestMod

#Tether Con-Arguments Below is a Tether con-argument written by a deleted user. > **Tether Cons** > > **Dodgy Reserves** > > Initially, Tether asserted that each USDT was backed by a dollar in its reserves. But the truth is more nuanced, Tether is supported by a variety of: > > * Other Investments (Including Digital Tokens): 8.36% > > * Secured Loans(None To Affiliated Entities): 6.77% > > * Corporate Bonds, Funds & Precious Metals: 5.25% > > * Cash & Cash Equivalents & Other Short-Term Deposits & Commercial Paper: 79.62% > > Of the 79% cash and cash equivalents, only 10.25% is held in cash. Also to be emphasized is the lack of an independent audit of the specific breakdown of Tether's reserves. > > **Regulatory Issues** > > The Paradise Papers dump in 2017 revealed that Bitfinex and Tether are both controlled by the same individuals. The Bitfinex trading platform's owners, who also manage the tether virtual currency, have participated in a cover-up to conceal the apparent loss of $850 million dollars, according to the investigation conducted by the New York state Attorney General. Later, Tether's attorney acknowledged that only 74% of the Tether is backed. Tether is forbidden from conducting business in New York under the terms of the settlement agreement. Despite paying a $18 million punishment, Bitfinex and Tether did not confess any wrongdoing. > > **Competitors** > > * USDC: Circle and Coinbase launched USDC in 2018, and it is tied 1:1 to the US dollar. Issuers are also required to back all tokens with fiat reserves and provide monthly proof of reserves in order to guarantee that USDC maintains a continual one-to-one backing. > > * BUSD: BUSD is a stablecoin backed by USD that is 1:1 secure, compliant, and supported by Binance. It was created by Paxos and has NYDFS approval. To preserve the stability and security of the stablecoin, Paxos hires an auditing company to examine its BUSD and US Dollar supply each month. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

CointestMod

#Tether Con-Arguments Below is a Tether con-argument written by a deleted user. > **Tether Cons** > > **Dodgy Reserves** > > Initially, Tether asserted that each USDT was backed by a dollar in its reserves. But the truth is more nuanced, Tether is supported by a variety of: > > * Other Investments (Including Digital Tokens): 8.36% > > * Secured Loans(None To Affiliated Entities): 6.77% > > * Corporate Bonds, Funds & Precious Metals: 5.25% > > * Cash & Cash Equivalents & Other Short-Term Deposits & Commercial Paper: 79.62% > > Of the 79% cash and cash equivalents, only 10.25% is held in cash. Also to be emphasized is the lack of an independent audit of the specific breakdown of Tether's reserves. > > **Regulatory Issues** > > The Paradise Papers dump in 2017 revealed that Bitfinex and Tether are both controlled by the same individuals. The Bitfinex trading platform's owners, who also manage the tether virtual currency, have participated in a cover-up to conceal the apparent loss of $850 million dollars, according to the investigation conducted by the New York state Attorney General. Later, Tether's attorney acknowledged that only 74% of the Tether is backed. Tether is forbidden from conducting business in New York under the terms of the settlement agreement. Despite paying a $18 million punishment, Bitfinex and Tether did not confess any wrongdoing. > > **Competitors** > > * USDC: Circle and Coinbase launched USDC in 2018, and it is tied 1:1 to the US dollar. Issuers are also required to back all tokens with fiat reserves and provide monthly proof of reserves in order to guarantee that USDC maintains a continual one-to-one backing. > > * BUSD: BUSD is a stablecoin backed by USD that is 1:1 secure, compliant, and supported by Binance. It was created by Paxos and has NYDFS approval. To preserve the stability and security of the stablecoin, Paxos hires an auditing company to examine its BUSD and US Dollar supply each month. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

CointestMod

#Tether Pro-Arguments Below is a Tether pro-argument written by Nostalg33k. > # Tether, criticized but stable. > > ​ > > Tether is always the bane of all jokes. USDT despite some problems of transparency is still the best stablecoin. Let's dive in. > > ​ > > # What is a USDT or Tether: A Stablecoin > > While we argue about USDT maybe you need a reminder: USDT is a cryptocurrency (it is on blockchains and works through these digital un-modifiable ledgers) and its value is correlated to a currency which is the dollar. Therefore the name Stablecoin. While this cointest is about Tether, you need to understand the advantages of stablecoins. > > While we are waiting for a cointest about stablecoins as a whole, here is the jist of it. > > 1) Stablecoins allow you to trade without returning to your fiat. > > Stablecoins are a way to circumvent profit declarations. Trading crypto is already complicated as it is, trading crypto is very fast paced and trading crypto relies on stablecoins. The reliance on stablecoin is due to taxable events: Selling a part of your folio for fiat leads to a taxable event. If you are not planning to put money out or to try to get your losses written as a loss (which may backfire later but you do you) then you should rely on stablecoins. Trading in a USDT pair does not (yet) create a taxable event. So go yolo out there ! > > 2) Fast paced liquidity which is digitally managed by a blockchain. > > Stablecoins have the advantages of being highly liquid and being secured by blockchain. > > 3) Swapping for a stable dollar value on your Ledger. > > If you are a fan of DEX, these platform do not have a fiat ramp, so if you want to go back to a dollar valued coin which is not suffering from unstable market conditions => stablecoins. > > # The main argument is liquidity. > > While trust in Tether is lacking, anyone knows that you can transit by Tether without risking a depeg. Users have seen UST and other stable coins crumble while Tether stays standing. With a daily volume close to its circulating supply, you can trust USDT if you have to buy it or sell it. Some will be sold and bought as you need it. > > [The data of this stablecoin is showing that you can trust it](https://coinmarketcap.com/currencies/tether/) > > # The backbone of the industry. > > If you want to support the Crypto industry as a whole, USDT is the stablecoin to hold. By holding USDC you are propping up Coinbase and Bitcoin, by holding BUSD you are propping up Binance. USDT is universal right now. It is the common stablecoin which is on all platforms. Yes it has links with bitfinex but it is more generalized than other stablecoins. > > ​ > > # Nice Staking rates for small bag holders. > > A lot of platforms such as [Binance](https://www.binance.com/en/earn/usdt) offer good rates for staking USDT. Which means that you can be paid for supporting the crypto industry as a whole. This staking is safer than other cryptos since your main investment stays pegged to the dollar which has been shown to be the ultimate commodity in our inflationary cycle. > > ​ > > # Tether like any crypto can be sent from a user to another. > > USDT can be your way to send money to your friend. USDT is free to move (you still have to pay the blockchain fees). This part can be a way to on-ramp your friend into the crypto ecosystem. You can send them some money on their newly created wallet and show them the way stablecoins work. > > ​ > > # Conclusion: Advantages of a stablecoin and of market domination makes Tether the best one. > > Often people are speaking about USDT saying it should crumble under its own weight. They don't realize that the volume of USDT is so high that a large part of the market cap is actually exchanging hands. If tomorrow 20 billions or more are slashed directly from people's pockets this would create the biggest bloodbath in crypto history. Tether has become to huge to fail and its liquidity makes it the best one for users. > > It has all the advantages of a stablecoin and you should be able to trust it. It has existed for nearly 10 years and will surely exist for 10 years more ! ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

theultimateusername

Depends on the exchange; some give you the ability to exchange and withdraw fiat directly to your bank account, some give you P2P options. I used to use Binance's BUSD till they winded it down, now USDT seems good. I make a lot of P2P trades too. Also depends on your holdings, a small cap could drop 20x while BTC is considered very stable in comparison. Depends on your goals really.

Drogon__

Regulated stable coins that get audited by reputable firms regularly? Let's see: USDT (their auditors are a little sketchy but alright) USDC (i'll give you that one) GUSD(That barely has any traction and has legal troubles) PYUSD(It's serving only Paypal and it isn't used in DeFi) BUSD(With Binance lawsuits it's almost dead at this point) As you can see there isn't any meaningful competition for a compliant and regulated USD stablecoin.

chaosdragon-

I invested in a token which has certik KYC silver its a new token and they dont have staking system but they have another system similar to it but ur tokens wont be locked instead they will share 10% of their company revenue for those that signs for the program and get BUSD every month BUT if u sell 1 token ( 1 cent ) u will be removed from the program and they require a ID verfaction My question is should i join the program ? And share my ID ? The company does exist and licensed in their country ( UAE-dubai ) and they will be presnt in Expo showing their project which helps deaf people

CointestMod

#Tether Con-Arguments Below is a Tether con-argument written by a deleted user. > **Tether Cons** > > **Dodgy Reserves** > > Initially, Tether asserted that each USDT was backed by a dollar in its reserves. But the truth is more nuanced, Tether is supported by a variety of: > > * Other Investments (Including Digital Tokens): 8.36% > > * Secured Loans(None To Affiliated Entities): 6.77% > > * Corporate Bonds, Funds & Precious Metals: 5.25% > > * Cash & Cash Equivalents & Other Short-Term Deposits & Commercial Paper: 79.62% > > Of the 79% cash and cash equivalents, only 10.25% is held in cash. Also to be emphasized is the lack of an independent audit of the specific breakdown of Tether's reserves. > > **Regulatory Issues** > > The Paradise Papers dump in 2017 revealed that Bitfinex and Tether are both controlled by the same individuals. The Bitfinex trading platform's owners, who also manage the tether virtual currency, have participated in a cover-up to conceal the apparent loss of $850 million dollars, according to the investigation conducted by the New York state Attorney General. Later, Tether's attorney acknowledged that only 74% of the Tether is backed. Tether is forbidden from conducting business in New York under the terms of the settlement agreement. Despite paying a $18 million punishment, Bitfinex and Tether did not confess any wrongdoing. > > **Competitors** > > * USDC: Circle and Coinbase launched USDC in 2018, and it is tied 1:1 to the US dollar. Issuers are also required to back all tokens with fiat reserves and provide monthly proof of reserves in order to guarantee that USDC maintains a continual one-to-one backing. > > * BUSD: BUSD is a stablecoin backed by USD that is 1:1 secure, compliant, and supported by Binance. It was created by Paxos and has NYDFS approval. To preserve the stability and security of the stablecoin, Paxos hires an auditing company to examine its BUSD and US Dollar supply each month. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

bobbyv137

Because they can't control it. They have no control over how much USDT is 'minted' thus added to the ecosystem. This massively impacts liquidity. Tether is owned by iFinex, which is based in the British Virgin Islands. It reeks of FTX. It's the largest stablecoin by market cap, and undoubtedly the most prominent pairing within 'crypto'. And the fact its closest competitor is USDC gives TradFi even more reason to be against USDT. USDC is issued by Circle, which is an American company. Circle has deep ties to Coinbase, who are custodians for most of the ETFS, and again, an American company (in this case, publicly listed). Why would TradFi/the US gov/Blackrock etc. want most of the liquidity (thus control) going through USDT when it could be USDC? It's the same reason they took down BUSD, and ultimately went for Binance. It's coming. The first sign will be Coinbase delisting USDT pairs and moving over to USDC. Remember: none of these entities are your friend, be that Circle, Blackrock or Coinbase. They all ultimately want to control as much as they can. The simple fact that most of the ETFs have Coinbase as custodian is a massive risk vector. Matthew Kratter of Bitcoin University rightly points out it's only a matter of time before the US gov seizes Coinbase's assets. Imagine the scenario: Bitcoin goes to $1m per coin as the dollar is inflated away. The Fed put Bitcoin on their balance sheet. The US gov seizes all the Bitcoin held by Coinbase, converts it to US dollars, and the price of Bitcoin goes up 5x soon later (not overnight, but not far off). It's all coming. It's just a case of when.

liquid_at

because in this scenario, no one traded that market. Since a lot of people actively trade and some of them actively do arbitrage, it only works in a reduced capacity and only for a short time. But when you trade one market, it has absolutely zero effect on any other market. If you buy BTC via USD, it will not affect the exchange rate for USDT, BUSD, .... whatsoever. Each market only affects itself. The balancing between those markets is arbitrage.

KriptoInvestitor

America stepped in, BUSD was issued by NYC company Paxos and US wanted them to cease issues of new BUSD crypto currencies for Binance, there was a time when US went all on on Binance and wanted to stop their operations full time, thankfully they only had authorities on Binance us, if they have shut everything off, that would've been very chaotic

just4dota

What happened to BUSD ?

KriptoInvestitor

I held million euros, not a single time did I get any issues or felt the cex might go bankrupt, the only time I was under pressure was when I held USDC and the value of USDC went down, too bad there isnt BUSD anymore

Guru_Salami

Is this controlled demolition of USDT, same happened to BUSD not long ago Why do we even need stables, can't exchanges use usd? Some do but most of exchanges seem to have stable pairs

CointestMod

#Tether Con-Arguments Below is a Tether con-argument written by a deleted user. > **Tether Cons** > > **Dodgy Reserves** > > Initially, Tether asserted that each USDT was backed by a dollar in its reserves. But the truth is more nuanced, Tether is supported by a variety of: > > * Other Investments (Including Digital Tokens): 8.36% > > * Secured Loans(None To Affiliated Entities): 6.77% > > * Corporate Bonds, Funds & Precious Metals: 5.25% > > * Cash & Cash Equivalents & Other Short-Term Deposits & Commercial Paper: 79.62% > > Of the 79% cash and cash equivalents, only 10.25% is held in cash. Also to be emphasized is the lack of an independent audit of the specific breakdown of Tether's reserves. > > **Regulatory Issues** > > The Paradise Papers dump in 2017 revealed that Bitfinex and Tether are both controlled by the same individuals. The Bitfinex trading platform's owners, who also manage the tether virtual currency, have participated in a cover-up to conceal the apparent loss of $850 million dollars, according to the investigation conducted by the New York state Attorney General. Later, Tether's attorney acknowledged that only 74% of the Tether is backed. Tether is forbidden from conducting business in New York under the terms of the settlement agreement. Despite paying a $18 million punishment, Bitfinex and Tether did not confess any wrongdoing. > > **Competitors** > > * USDC: Circle and Coinbase launched USDC in 2018, and it is tied 1:1 to the US dollar. Issuers are also required to back all tokens with fiat reserves and provide monthly proof of reserves in order to guarantee that USDC maintains a continual one-to-one backing. > > * BUSD: BUSD is a stablecoin backed by USD that is 1:1 secure, compliant, and supported by Binance. It was created by Paxos and has NYDFS approval. To preserve the stability and security of the stablecoin, Paxos hires an auditing company to examine its BUSD and US Dollar supply each month. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

Wayne2018ZA

I don't know bro, it looks clearly like $8283 to me. Remember BUSD is/was pegged to the USD.

Objective_Digit

https://assets.ctfassets.net/vyse88cgwfbl/24G4DuQ0HE7h7EQE6vGy4J/8a8a170edf687ea07b3f86048af8b87b/ESO.03.01_Std_ISAE_3000R_Opinion_31-03-2023_BDO_Tether_CRR.pdf >You're using tether's importance in the crypto space as a reason for its continued importance. Where did I say it was important? You're the one who seems to think it's crucial. >Just to answer the question straight: USDC, BUSD, and TUSD. They are fully audited and are much more trustworthy than tether. Now give me your sources.

GullibleMacaroni

Please send any proof that it was an audit. I looked it up, and it was definitely not an audit. > what would you sell your bitcoin for? That's a bit of circular reasoning, no? You're using tether's importance in the crypto space as a reason for its continued importance. Just to answer the question straight: USDC, BUSD, and TUSD. They are fully audited and are much more trustworthy than tether.

Objective_Digit

It was an audit. >because the other stablecoins cannot fill the vacuum that tether would leave behind. The next biggest stablecoins- USDC, BUSD, and TUSD- do not print money like tether and there's no way they would find the funding to back $100B worth of new coins. Again. Unless the exchange offers fiat what would you sell your Bitcoin for? And why is a better question.

GullibleMacaroni

Yeah, no. It was not an audit. It was just a report that tether made themselves and released via a third party to earn some sort of legitimacy. Tether has never been fully audited in its 10 years of existence. > what are people going to sell their Bitcoin for if there's no dollar placeholder? That's why a tether implosion will be catastrophic. Everything in crypto will be affected, because the other stablecoins cannot fill the vacuum that tether would leave behind. The next biggest stablecoins- USDC, BUSD, and TUSD- do not print money like tether and there's no way they would find the funding to back $100B worth of new coins.

nanooverbtc

Are you sure crypto.com supports BUSD-T stable on the network you sent on?

antaran

You are not looking at the minting of the Tether, you are looking at the market cap of the circulating supply. This does not equal minting or "printing". Tether keeps several billions of minted coins in their wallets as reserve and uses them in chunks of hundreds of millions when they please. Aside from that, Tether is not the main coin used for the washtrading pumping of BTC. Binance usually uses their own coins for this. In earlier times it was BUSD and TUSD, now it is FDUSD. As you can see on [coinmarketcap](https://coinmarketcap.com/currencies/bitcoin/) the largest trading pair for BTC is for FDUSD. FDUSD is a Justin Sun connected coin with a market cap of ~3 billion but a 24h volume of a staggering 24 billion USD. Meaning every FDUSD in existence is traded 7 times a day I am not going to explain to you what this means. Tether only comes into into play to stabilize the peg of the current pumping coin.

CointestMod

#Tether Con-Arguments Below is a Tether con-argument written by Far-Scholar9028. > **Tether Cons** > > **Dodgy Reserves** > > Initially, Tether asserted that each USDT was backed by a dollar in its reserves. But the truth is more nuanced, Tether is supported by a variety of: > > * Other Investments (Including Digital Tokens): 8.36% > > * Secured Loans(None To Affiliated Entities): 6.77% > > * Corporate Bonds, Funds & Precious Metals: 5.25% > > * Cash & Cash Equivalents & Other Short-Term Deposits & Commercial Paper: 79.62% > > Of the 79% cash and cash equivalents, only 10.25% is held in cash. Also to be emphasized is the lack of an independent audit of the specific breakdown of Tether's reserves. > > **Regulatory Issues** > > The Paradise Papers dump in 2017 revealed that Bitfinex and Tether are both controlled by the same individuals. The Bitfinex trading platform's owners, who also manage the tether virtual currency, have participated in a cover-up to conceal the apparent loss of $850 million dollars, according to the investigation conducted by the New York state Attorney General. Later, Tether's attorney acknowledged that only 74% of the Tether is backed. Tether is forbidden from conducting business in New York under the terms of the settlement agreement. Despite paying a $18 million punishment, Bitfinex and Tether did not confess any wrongdoing. > > **Competitors** > > * USDC: Circle and Coinbase launched USDC in 2018, and it is tied 1:1 to the US dollar. Issuers are also required to back all tokens with fiat reserves and provide monthly proof of reserves in order to guarantee that USDC maintains a continual one-to-one backing. > > * BUSD: BUSD is a stablecoin backed by USD that is 1:1 secure, compliant, and supported by Binance. It was created by Paxos and has NYDFS approval. To preserve the stability and security of the stablecoin, Paxos hires an auditing company to examine its BUSD and US Dollar supply each month. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

CointestMod

#Tether Pro-Arguments Below is a Tether pro-argument written by Nostalg33k. > # Tether, criticized but stable. > > ​ > > Tether is always the bane of all jokes. USDT despite some problems of transparency is still the best stablecoin. Let's dive in. > > ​ > > # What is a USDT or Tether: A Stablecoin > > While we argue about USDT maybe you need a reminder: USDT is a cryptocurrency (it is on blockchains and works through these digital un-modifiable ledgers) and its value is correlated to a currency which is the dollar. Therefore the name Stablecoin. While this cointest is about Tether, you need to understand the advantages of stablecoins. > > While we are waiting for a cointest about stablecoins as a whole, here is the jist of it. > > 1) Stablecoins allow you to trade without returning to your fiat. > > Stablecoins are a way to circumvent profit declarations. Trading crypto is already complicated as it is, trading crypto is very fast paced and trading crypto relies on stablecoins. The reliance on stablecoin is due to taxable events: Selling a part of your folio for fiat leads to a taxable event. If you are not planning to put money out or to try to get your losses written as a loss (which may backfire later but you do you) then you should rely on stablecoins. Trading in a USDT pair does not (yet) create a taxable event. So go yolo out there ! > > 2) Fast paced liquidity which is digitally managed by a blockchain. > > Stablecoins have the advantages of being highly liquid and being secured by blockchain. > > 3) Swapping for a stable dollar value on your Ledger. > > If you are a fan of DEX, these platform do not have a fiat ramp, so if you want to go back to a dollar valued coin which is not suffering from unstable market conditions => stablecoins. > > # The main argument is liquidity. > > While trust in Tether is lacking, anyone knows that you can transit by Tether without risking a depeg. Users have seen UST and other stable coins crumble while Tether stays standing. With a daily volume close to its circulating supply, you can trust USDT if you have to buy it or sell it. Some will be sold and bought as you need it. > > [The data of this stablecoin is showing that you can trust it](https://coinmarketcap.com/currencies/tether/) > > # The backbone of the industry. > > If you want to support the Crypto industry as a whole, USDT is the stablecoin to hold. By holding USDC you are propping up Coinbase and Bitcoin, by holding BUSD you are propping up Binance. USDT is universal right now. It is the common stablecoin which is on all platforms. Yes it has links with bitfinex but it is more generalized than other stablecoins. > > ​ > > # Nice Staking rates for small bag holders. > > A lot of platforms such as [Binance](https://www.binance.com/en/earn/usdt) offer good rates for staking USDT. Which means that you can be paid for supporting the crypto industry as a whole. This staking is safer than other cryptos since your main investment stays pegged to the dollar which has been shown to be the ultimate commodity in our inflationary cycle. > > ​ > > # Tether like any crypto can be sent from a user to another. > > USDT can be your way to send money to your friend. USDT is free to move (you still have to pay the blockchain fees). This part can be a way to on-ramp your friend into the crypto ecosystem. You can send them some money on their newly created wallet and show them the way stablecoins work. > > ​ > > # Conclusion: Advantages of a stablecoin and of market domination makes Tether the best one. > > Often people are speaking about USDT saying it should crumble under its own weight. They don't realize that the volume of USDT is so high that a large part of the market cap is actually exchanging hands. If tomorrow 20 billions or more are slashed directly from people's pockets this would create the biggest bloodbath in crypto history. Tether has become to huge to fail and its liquidity makes it the best one for users. > > It has all the advantages of a stablecoin and you should be able to trust it. It has existed for nearly 10 years and will surely exist for 10 years more ! ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

liquid_at

there isn't one market, but multiple markets. BTC-USD, is different from BTC-USDT and different from BTC-BUSD etc. Any market can internalize trades without them affecting the price. But the sum of all markets is what decides what price it trades at. So, no, that's not an effect ETFs have. Either it existed without ETFs or it does not exist with ETFs, but ETFs play no role here.

CointestMod

#Tether Pro-Arguments Below is a Tether pro-argument written by Nostalg33k. > # Tether, criticized but stable. > > ​ > > Tether is always the bane of all jokes. USDT despite some problems of transparency is still the best stablecoin. Let's dive in. > > ​ > > # What is a USDT or Tether: A Stablecoin > > While we argue about USDT maybe you need a reminder: USDT is a cryptocurrency (it is on blockchains and works through these digital un-modifiable ledgers) and its value is correlated to a currency which is the dollar. Therefore the name Stablecoin. While this cointest is about Tether, you need to understand the advantages of stablecoins. > > While we are waiting for a cointest about stablecoins as a whole, here is the jist of it. > > 1) Stablecoins allow you to trade without returning to your fiat. > > Stablecoins are a way to circumvent profit declarations. Trading crypto is already complicated as it is, trading crypto is very fast paced and trading crypto relies on stablecoins. The reliance on stablecoin is due to taxable events: Selling a part of your folio for fiat leads to a taxable event. If you are not planning to put money out or to try to get your losses written as a loss (which may backfire later but you do you) then you should rely on stablecoins. Trading in a USDT pair does not (yet) create a taxable event. So go yolo out there ! > > 2) Fast paced liquidity which is digitally managed by a blockchain. > > Stablecoins have the advantages of being highly liquid and being secured by blockchain. > > 3) Swapping for a stable dollar value on your Ledger. > > If you are a fan of DEX, these platform do not have a fiat ramp, so if you want to go back to a dollar valued coin which is not suffering from unstable market conditions => stablecoins. > > # The main argument is liquidity. > > While trust in Tether is lacking, anyone knows that you can transit by Tether without risking a depeg. Users have seen UST and other stable coins crumble while Tether stays standing. With a daily volume close to its circulating supply, you can trust USDT if you have to buy it or sell it. Some will be sold and bought as you need it. > > [The data of this stablecoin is showing that you can trust it](https://coinmarketcap.com/currencies/tether/) > > # The backbone of the industry. > > If you want to support the Crypto industry as a whole, USDT is the stablecoin to hold. By holding USDC you are propping up Coinbase and Bitcoin, by holding BUSD you are propping up Binance. USDT is universal right now. It is the common stablecoin which is on all platforms. Yes it has links with bitfinex but it is more generalized than other stablecoins. > > ​ > > # Nice Staking rates for small bag holders. > > A lot of platforms such as [Binance](https://www.binance.com/en/earn/usdt) offer good rates for staking USDT. Which means that you can be paid for supporting the crypto industry as a whole. This staking is safer than other cryptos since your main investment stays pegged to the dollar which has been shown to be the ultimate commodity in our inflationary cycle. > > ​ > > # Tether like any crypto can be sent from a user to another. > > USDT can be your way to send money to your friend. USDT is free to move (you still have to pay the blockchain fees). This part can be a way to on-ramp your friend into the crypto ecosystem. You can send them some money on their newly created wallet and show them the way stablecoins work. > > ​ > > # Conclusion: Advantages of a stablecoin and of market domination makes Tether the best one. > > Often people are speaking about USDT saying it should crumble under its own weight. They don't realize that the volume of USDT is so high that a large part of the market cap is actually exchanging hands. If tomorrow 20 billions or more are slashed directly from people's pockets this would create the biggest bloodbath in crypto history. Tether has become to huge to fail and its liquidity makes it the best one for users. > > It has all the advantages of a stablecoin and you should be able to trust it. It has existed for nearly 10 years and will surely exist for 10 years more ! ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

RawDick

Who the fuck buys BUSD like it’ll pump 20% next year?

benonabike

Why don't you distribute the $1000 based on the combined market cap of the top 10? If you were to do that, you'd be buying $677 of BTC and only $6 of DOT. By spending $100 on both, you're underweighted on BTC by 6x and overweighted on DOT by like 16x. Result is that it creates situations like this month you actually perform *worse* than the average crypto market because you're super heavily weighted in tiny alts compared to BTC and ETH. The flip side, though, is that on a run of alts you'll see outsized returns. Just as an exercise, here's what the distribution based on market cap would look like based on the current market caps: Feb 16, 2024 \[Symbol - Mcap prices - % of total - distribution\] BTC - $1000B - 67.7% - $677 ETH - $336B - 22.8% - $228 BNB - $54B - 3.7% - $37 XRP - $30B - 2% - $20 BUSD - $0.08B - 0.005% - $0.05 DOGE - $12B - 8.1% - $81 ADA - $21B - 1.4% - $14 MATIC - $9B - 0.6% - $6 DOT - $9B - 0.6% - $6 LTC - $5B - 3.4% - $34 Total MCap = $1,476.08 B

CointestMod

#Tether Con-Arguments Below is a Tether con-argument written by Far-Scholar9028. > **Tether Cons** > > **Dodgy Reserves** > > Initially, Tether asserted that each USDT was backed by a dollar in its reserves. But the truth is more nuanced, Tether is supported by a variety of: > > * Other Investments (Including Digital Tokens): 8.36% > > * Secured Loans(None To Affiliated Entities): 6.77% > > * Corporate Bonds, Funds & Precious Metals: 5.25% > > * Cash & Cash Equivalents & Other Short-Term Deposits & Commercial Paper: 79.62% > > Of the 79% cash and cash equivalents, only 10.25% is held in cash. Also to be emphasized is the lack of an independent audit of the specific breakdown of Tether's reserves. > > **Regulatory Issues** > > The Paradise Papers dump in 2017 revealed that Bitfinex and Tether are both controlled by the same individuals. The Bitfinex trading platform's owners, who also manage the tether virtual currency, have participated in a cover-up to conceal the apparent loss of $850 million dollars, according to the investigation conducted by the New York state Attorney General. Later, Tether's attorney acknowledged that only 74% of the Tether is backed. Tether is forbidden from conducting business in New York under the terms of the settlement agreement. Despite paying a $18 million punishment, Bitfinex and Tether did not confess any wrongdoing. > > **Competitors** > > * USDC: Circle and Coinbase launched USDC in 2018, and it is tied 1:1 to the US dollar. Issuers are also required to back all tokens with fiat reserves and provide monthly proof of reserves in order to guarantee that USDC maintains a continual one-to-one backing. > > * BUSD: BUSD is a stablecoin backed by USD that is 1:1 secure, compliant, and supported by Binance. It was created by Paxos and has NYDFS approval. To preserve the stability and security of the stablecoin, Paxos hires an auditing company to examine its BUSD and US Dollar supply each month. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Tether) to find submissions for other topics.

funkinaround

Market makers are in the business of trading on the bid and ask to collect the spread between them. They are not in the business of operating stablecoins. There are other stablecoins out there: USDC, DAI, TUSD, FDUSD. No one uses them unless they are liquid enough to be useful. Tether happens to have most of the liquidity and pricing prevalence. It's a first mover advantage + people pulled out of USDC due to SVB exposure + BUSD is effectively shut down. Tether simply lasted longer.