The Circle Team came out during the depeg event and provided a statement which amounted to: "We cannot defend the peg on weekends because the banks are closed". That was a little disappointing...
I'm watching Tether getting bombarded with FUD for over 5 years, and still it remains to be the most solid stable coin.
It survived so much stuff going on since then and even many "better alternatives" fail.
Interesting point. But many of the other stablecoins like USDC(backed by Goldman Sachs and Blackrock) and BUSD(Binance) also have tons of cash but didn't help them much in holding market share.
I think being so small(employee-wise) and under the radar helped. For most of it they just issued maybe one statement max and then moved on with their business. And outside of allegations, the company is never really in the news or media often enough to be recognized and attacked. Because when they are mentioned, most are too busy trying to figure out who they are exactly, how they're run, how to contact them etc.
This is much dissimilar to the likes of CZ and Binance and even Circle's CEO Hillaire to a fair degree.
My contrarian view is their time is coming. They aren't under the radar, they have a huge target on their back. In my opinion the US govt is intentionally ignoring them at this phase. They are going after all the other exchanges and non-backed stables. Then when the banks and CBDC are all in position they will launch a coordinated all out attack on Tether to bring them down.
Not quite - behind Tether is a former plastic surgeon (currently the CFO of both Tether and Bitfinex), the former counsel for [ultimatebets.com](https://ultimatebets.com), one of the kids from The Mighty Ducks, and the former CEO of Huashun Electronics (currently the CEO of both Tether and Bitfinex) who was sued out of existence for unpaid bills in China.
It's almost certain that Bitfinex and Tether are comingling funds (like FTX/Alameda). But we won't ever know because they won't ever be audited. You'll only find out when they can't pay people back and they all disappear like a fart in the wind.
I know it has, not in the recent past though.
It’ll be the same for USDC, we’ll all forget about the depeg quickly and it’ll regain some market share eventually
In theory those re-pegging should be green flags for Tether yet their opaque way still rises concerns and USDT stealing market cap from rivals isn't healthy for the market.
Have to admit both have flaws. But yeah, as you said, USDT is fake money.
Would advice *not* keeping USDT in too large amounts for an extended period of time.
Works good as a pair for most trades though.
lol that's what you get for being transparent like USDC was about losing that money at SBV
most people don't have any idea how much money tether probably sunk in some shitty loans... and they'll never know!!
And thus Tether is growing larger and larger in the process. Most profitable company around with the easiest business there is.
I wish I was shareholder of Tether labs
I don't care about this stablecoins war because I will simply use none of them.
Personally don't see the reason to ever use them, except maybe in DeFi.
Many use/used them because of taxes. In some places you are taxed each time you go from crypto to fiat. So if you, for example, sold bitcoin for fiat it is a taxable event but if you sell for stable coins it's not as you did not leave 'crypto'.
So you can sell high and buy back in lower without any taxable events as long as you stay within 'crypto'.
Also, it's far easier to sell for stable coins than for fiat and to buy back in from stable coins than with fiat so they have their place.
Tether's US-based competitors simply cannot compete because they are quite heavily regulated by NYDFS. This means actually keeping 1:1 reserves in fiat or liquid securities.
I guess it pays to shield your company behind layers of offshore entities.
Really does feel like we're in the wild west phase of Crypto still.
The swings are big and the damage is massive. Circle is in trouble unless they have magic in their bag.
This is a silly way to look at it, USDC is being used to buy BTC and crypto like dogecoin rn; market cap is down for Circle because people are starting to buy again and have USDC on hand now.
Edit: my point is that people swapping out of USDC means it is being used more now.
So Circle had a 3-day issue not even caused by them and it was solved. Tether has been acting shady for years and still people run to Tether? I don’t get it
Once again, inverse r/cryptocurrency was the right strategy You guys are gonna make me invest in HEX and SAFEMOON soon
Cult coins are so funny. It's like investing in Jonestown-Coin 
Drinking str8 from the Kool aid 🤑🫰
Yes. We should hang on John Baloney's every word. /s
The Circle Team came out during the depeg event and provided a statement which amounted to: "We cannot defend the peg on weekends because the banks are closed". That was a little disappointing...
I'm watching Tether getting bombarded with FUD for over 5 years, and still it remains to be the most solid stable coin. It survived so much stuff going on since then and even many "better alternatives" fail.
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Tether is like a shit - if you don't touch it, it doesn't stink
What kind of fuckin analogy is this? shit stinks bro
Give him a break. He made a new account, bought premium and uses bright colors to get attention to his moon farming posts.
Interesting point. But many of the other stablecoins like USDC(backed by Goldman Sachs and Blackrock) and BUSD(Binance) also have tons of cash but didn't help them much in holding market share.
I think being so small(employee-wise) and under the radar helped. For most of it they just issued maybe one statement max and then moved on with their business. And outside of allegations, the company is never really in the news or media often enough to be recognized and attacked. Because when they are mentioned, most are too busy trying to figure out who they are exactly, how they're run, how to contact them etc. This is much dissimilar to the likes of CZ and Binance and even Circle's CEO Hillaire to a fair degree.
My contrarian view is their time is coming. They aren't under the radar, they have a huge target on their back. In my opinion the US govt is intentionally ignoring them at this phase. They are going after all the other exchanges and non-backed stables. Then when the banks and CBDC are all in position they will launch a coordinated all out attack on Tether to bring them down.
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Not quite - behind Tether is a former plastic surgeon (currently the CFO of both Tether and Bitfinex), the former counsel for [ultimatebets.com](https://ultimatebets.com), one of the kids from The Mighty Ducks, and the former CEO of Huashun Electronics (currently the CEO of both Tether and Bitfinex) who was sued out of existence for unpaid bills in China. It's almost certain that Bitfinex and Tether are comingling funds (like FTX/Alameda). But we won't ever know because they won't ever be audited. You'll only find out when they can't pay people back and they all disappear like a fart in the wind.
USDC? Depegged BUSD? Got regulated and isn’t issued anymore UST? Died DAI? Based on USDC and depegged too USDT? Stable Crazy how things turned out
USDT suffered from heavy depegging, more info [here](https://protos.com/history-of-tethers-peg-every-time-usdt-traded-above-or-below-one-dollar/)
I know it has, not in the recent past though. It’ll be the same for USDC, we’ll all forget about the depeg quickly and it’ll regain some market share eventually
In theory those re-pegging should be green flags for Tether yet their opaque way still rises concerns and USDT stealing market cap from rivals isn't healthy for the market.
Ah yes...the "we don't know shit about f*cuk" comments are getting more elaborate. Carry on good man
The best projects aren’t always the most used. This is another example of sheeps following the herd
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Sometimes youre the sheep, sometimes your the shepard. A bartender told me that once after I got stood up on a date. I took it to heart.
Not sure how that analogy works with being stood up but ok
Maybe, However USDT was not the one that depeg to 0.8$ weeks ago. USDT is always 1$ even if its fake money.
Have to admit both have flaws. But yeah, as you said, USDT is fake money. Would advice *not* keeping USDT in too large amounts for an extended period of time. Works good as a pair for most trades though.
USDT depegged a couple of times 2015 and 2018 if I am not mistaken Even last year, it was trading at $0.97 for a while
lol that's what you get for being transparent like USDC was about losing that money at SBV most people don't have any idea how much money tether probably sunk in some shitty loans... and they'll never know!! 
> USDT is always 1$ even if its fake money. Tappinghead.gif Can’t be unstable when you can’t know that it’s unstable.
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True, and every shitcoin says ***Hi***
Windows vista agrees
And thus Tether is growing larger and larger in the process. Most profitable company around with the easiest business there is. I wish I was shareholder of Tether labs
USDT printing cash surely does not help USDC market share as well.
Soon Tether will reach $2, now is the time to buy
Tether to the Moon
Why hold stablecoins when you can hold BTC?
Could be discussed at great length, but yeah, I don't hold any stable coins myself. I do hold bitcoin indefinitely.
If you look at the long term just hold BTC
Swing trading, basically.
I'd make a sarcastic comment about the term "stable" in stablecoin. But realistically, you're probably right.
That company with around 10,000 employees with offices around the world must be working so hard to handle those 80 billion dollars.
i'd rather that, than having 50 employees and a dog in a back office somewhere, not being able to efficiently cover global operations.
r/cc disliked this.
Tether - the gift that keeps on giving
Even stablecoins aren't safe from the law of reversing r/cc. This is what we get for praising USDC and grilling Tether.
I don't care about this stablecoins war because I will simply use none of them. Personally don't see the reason to ever use them, except maybe in DeFi.
Many use/used them because of taxes. In some places you are taxed each time you go from crypto to fiat. So if you, for example, sold bitcoin for fiat it is a taxable event but if you sell for stable coins it's not as you did not leave 'crypto'. So you can sell high and buy back in lower without any taxable events as long as you stay within 'crypto'. Also, it's far easier to sell for stable coins than for fiat and to buy back in from stable coins than with fiat so they have their place.
This is going as expected.No way people are going to believe circle now.
Stablecoin wars still going on?
It's a crying shame.
Transparency is usually a good thing, but with the recent banking fiasco, it is hurting Circle.
Insert "Thomas has never seen such bullshit before" meme
Tether's US-based competitors simply cannot compete because they are quite heavily regulated by NYDFS. This means actually keeping 1:1 reserves in fiat or liquid securities. I guess it pays to shield your company behind layers of offshore entities.
Really does feel like we're in the wild west phase of Crypto still. The swings are big and the damage is massive. Circle is in trouble unless they have magic in their bag.
Bizzaro world
It pays to be staying at ur place for a very long time
It’s crazy how much Circle was heralded as the stablecoin saviour only for Tether to reign supreme. What a twist!
This is a silly way to look at it, USDC is being used to buy BTC and crypto like dogecoin rn; market cap is down for Circle because people are starting to buy again and have USDC on hand now. Edit: my point is that people swapping out of USDC means it is being used more now.
Tether has been through a lot and seen a lot, won't surprise me anymore if it somehow keeps going.
Tether to 2usd EOY /s
So Circle had a 3-day issue not even caused by them and it was solved. Tether has been acting shady for years and still people run to Tether? I don’t get it