Friday, November 25, 2022
HomeCryptoTether in FTX Storm - DAO Tron buys 1 billion USDT

Tether in FTX Storm – DAO Tron buys 1 billion USDT

That storm currently rocking FTX continues to have consequences for the entire ecosystem. This morning, the largest stablecoin, USDT, lost its parity with the dollar.

DAO Tron buys for 1 billion USDT

With $70 billion in capitalization, USDT’s fall would likely bring down the entire ecosystem. As a reminder, the primary purpose of USDT is to allow users to hold assets on the blockchain while avoiding the volatility inherent in “classic” cryptocurrencies. A safe haven therefore, which if it collapsed would put thousands (millions) of people out of business.

And then this morning it lost about up to 3% of its value to reach $0.97. A scenario that arises from time to time in turbulent times, but in the current atmosphere could have induced panic and a downward spiral.

Probably aware of the stake, the creator of DAO Tron, Justin Sunreported to have invested a billion dollars to buy USDT, and therefore reduces the selling pressure on the token. A bet about to be won as USDT is now trading around $0.996.

USDT has been through many crises and can still prove its resilience in this period.

On the other hand, the company that operates USDT, Tether, announced with the voice of its CTO that it was able to handle all withdrawals from USDT to dollars.

Be that as it may, caution, diversification and protection of your capital are the watchwords in these troubled times.

In France at least things are clear! Registration with AMF, PSAN status, CZ platform is in the nails. Run to register on BinanceTHE absolute benchmark for crypto exchanges (commercial link).



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