Tether - When is a dollar not worth a full dollar?
Markets have a tendency to always be ahead of the curve.
I've been watching the Tether - True USD (USDT - TUSD) pair on Binance for awhile now to see if we would show some significant divergence when the crypto/stock/credit markets started to hit the rocks and sure enough, there is now an almost 2.5% premium for True USD versus Tether. Earlier today it was 5%!
That means people are willing to pay $1.025 worth of Tether for $1 worth of True USD.
What does the market know? I would not be holding lunch money in Tether right now let alone a significant amount of cash.
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I wouldn't be holding onto Tether either. I've been saying for months that I don't feel that Tether is a safe investment. If something is supposed to be pegged to $1, you'd think they would want to have an audit to prove they actually have the money they're supposed to have. If you actually have the money, you wouldn't have any issue with a neutral party reviewing the data.
I completly agree with you @themanwithnoname
Thanks! I'm glad that made sense to you. It's not that I'm opposed to having something that's pegged to the dollar, it's that they haven't been transparent, so I would be worried about holding Tether because it's possible that it's worth nothing... or next to nothing. (Just my opinion.)
Thank you for being so responsive @themanwithnoname
and sorry for such a late reply. just realized that I've missed your comment
yours
Piotr
Tether is a good idea, but a lot of risk.
I think it's a cool concept that definitely fills a need, but they're not instilling much confidence in people by their lack of audits and accountability.
Interesting. It's trading at a $0.02 discount.
Hi @matthewwarn
Just bumped into your profile just to realize that we seem to share a number of interests :)
In particular that we both share a similar passion towards cryptocurrencies and blockchain technology :)
big fat upvote on the way! :)
I will follow you closely :)
Take care, Piotr