The meltdown in crypto is getting worse, and Tether is beginning to lose its peg to 1.00.
Tether is the third-largest cryptocurrency and has a market cap near $80-billion.
There has been a lot of speculation that Tether is a fraud or a Ponzi scheme. I’ve studied it, and agree something is not right.
By my estimates, Tether makes up about 25% of ALL the liquidity trading throughout crypto-land; if it implodes, there’s no telling the damage.
Lastly, much of the collateral held for leveraged crypto trading is Tether. What happens if that collateral suddenly implodes?