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Tether (USDT) NOT backed by Fiat - Sirin Labs Scam - $150K Bitcoin | Bitcoin and Cryptocurrency News

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Text Comments (80)
Bam Boo (11 hours ago)
I haven't used tether in over a year. I use the Gemini dollar if wanting to have funds be completely out of crypto, but also BNB works well. Tether is stagnant, BNB has almost tripled since the year started. I use LTC when moving between exchanges.
baha waha (23 hours ago)
Haters can not calm down) I can understand this, because this situation is very strange. But the "strange" does not mean "negative" or "dangerous." Instead of dollars, something else has value. And that's all.
Ryan Carrell (1 day ago)
kinda annoyed by all the couch analysts who feels the need to raise panic around this tether statement. there hasn't even been an official comment from tether team yet.
Gary Mood (2 days ago)
the tether team just decided to tell the truth No one has said that the tether is not backed. Just partially it is not usd
Kreddy Frueger (2 days ago)
For every tether is worth something. Be it a dollar or something else. What other guarantees are needed?
your best enemy (2 days ago)
I can get why it`s on the news but... why so many ppl can`t get it right? Tether made some corrections to the ToS but basically nothing changes: it`s still backed and pegged to USD.
Adrian Holm (2 days ago)
I advice to carefully read the info. It's still backed like 1USDT:1USD but 1USD can be securities, cash, etc
ACfanpage HUN (3 days ago)
good news actually , with all what s going on now we should have at least one stable coin
Rexha- (3 days ago)
I mean ok, it is still backed so why should I worry about it if nothing changed in general regarding USDT?
Drone Trucker (3 days ago)
Glad I found your channel
CryptosRUs (3 days ago)
Welcome! :)
JJ Johanson (3 days ago)
So many people tend to pick out of nose what isn`t really implied. When I read the ToS on Tether official website, I see the following: 'Every tether is always 100% backed by our reserves.' 'Every tether is also 1-to-1 pegged to the dollar'. And that`s the main point.
CryptosRUs (3 days ago)
Reserves = any asset they deem equal value and doesn't have to be USD. 1-to1 pegged only means they value each USDT at $1 dollar.
Gavin Moze (3 days ago)
Yep Sirinlabs Also Closed Their Telegram Group Which Is Shady In Itself Especially Since Their Was A Huge Community.... Not Sure If It Had Anything To Do With The Fact That All The Admin There Had Trouble Answering Alot Of Basic Questions. I Ignored The Red Flags And Admittedly Lost Money There. Lesson Learnt.
CryptosRUs (3 days ago)
Thanks for sharing, interesting.
Mitchell Stables (3 days ago)
awesome new really got something to talk about, like tether
priyanka bangal (3 days ago)
There's always some drama about tether and then nothing happens. It's still in top 10. Make you think..
Paco The Real Horse (3 days ago)
Still think that it's going to be fine with tether. There're always rumors and dramas around it and it still stand firm.
CryptosRUs (3 days ago)
That's how all companies are until they shut down. They stand firm.
Consulting Firm (3 days ago)
Tether is a fishy
Flavius Tech (4 days ago)
Just give them your bitcoins and fiat money and shut up :). I won't be affected when they close their computer that serve usdt coins, i have bitcoin and never trade it. Guess what will happen when you start to sell your usdt to binance back? Binance usdt funds will be increased :)
Gravel Pit (4 days ago)
i switched to TUSD... see what happens Larry, you see what happens? This is what happens
Maker is the perfect stable coin....read about the Maker project.....stable coin backed by debt positions taken in ether ran by an ether smart contract....eliminates counterparty risk....ie shady behavior by 3rd party orgs such as tether....community lets stop being lazy and get smarter
Kyle Laffey You dont need proof. Like our US President, Tether lies in the open. Last year they went to great lengths to produce a "signed statement" from a bank in the Caribbean confirming each USDT was backed by a dollar held in their tether bank acct. Now a year later Tether says the USDT is backed by dollars and "other" collateral ie loans, and assets. What if a borrower defaults who is lender of last resort? What is strength of borrowers credit? This releases huge additional counterparty risk with tether. Its only sound if they deposit a dollar into a trust account and leave it their to back the USDT token. When they do ANYTHING else the entire system is at additional risk of collapse. This is evident on it face and there is something to be said about doing due diligence and then there is a damn fool. And only a damn fool cant see this scam as they have admitted it in their most recent statement. This is why most idiots get ripped off and why ICO and IPO are and should be restricted to accredited investors as general public is a bunch of crying idiots that can see a scam as big as the ☀️. Wait people will be asking why the govt didnt stop tether, scream btc is a fraud, and want the SEC and the US justice dept to put all exchange owners and anyone in Tether foundation in jail when this scam blows up....WTFU....wake the fuck up
With proliferation of stable coins why in the F are traders still using tether. We now have a decentralized option, DAI, the market should demand by trading on exchanges that offer Dai...no Dai token dont trade there. Im so sick of money hungry traders acting like monkeys doing the same old stupid shit....we keep trading in tether and tether keeps up the shady shit....enough #endthe Tether fud
crypt0bank (4 days ago)
That creepy AF Sirin Labs commercial never gets old!
Andrzej Dudek (4 days ago)
TETHER the next Bitconnect
Tether always been a scam.. only coin I trust to is bnb and btc
CryptosRUs (4 days ago)
Yup yet people still rely on it
If only we all had our own magical tether printing machines
Tim Ulrey (4 days ago)
If tether implodes when btc is under $10K, we go to $800 btc and whole market cap of 40B or so. I think you offer the best advice of your YT crypto career in this video. Good job, brother.
CryptosRUs (4 days ago)
I agree it would be a disaster.
Nick Green (4 days ago)
Sir in labs has too much invested t be a scam. Top talent and retail stores with a phone. He may have been shady at other companies but SRN is making the right moves and with audited financials and revenue generated. This is Clickbait to call it a scam. The company is too big with no exit strategy. They sell cell phones with a store opening in New York. Don’t give crypto a bad rep
Richard Tom (4 days ago)
More use for MakerDAO??? What about TRX Tether?
Jared Houston (4 days ago)
Too big to fail? it has $2 bln, it's not too big to fail....
sophia simone (4 days ago)
George, I need one more quick bear....just one more....pleeze
CryptosRUs (4 days ago)
NO!
AntiCommunist (4 days ago)
When they catch that Quadriga scum, they should execute them in a public manner. These "white collar," killers and thieves get away with this kind of brutality on thousands and millions of people while some poor schlub who steals a candy bar gets 3 years behind bars. I love our laws.
美国老爹 (4 days ago)
PingAn - 平安保险。top 5 Chinese insurance banking company in China.
Alcaff S (4 days ago)
How come u never talked about hashgraph?
CryptosRUs (4 days ago)
No reason
vivalabraga (4 days ago)
The real bottom is nowhere close when we have millions of fake printed Tether floating around the market. Why would serious investors, firms and people get into crypto with all this printed money that is even worse than what a couple of us want to move away from with the Fiats. What is even the REAL market cap for Bitcoin and Altcoins without Tether? When, or if Tether bursts, it will be the biggest bloodshed ever in crypto-history.
Denis Scooper (4 days ago)
will keep trading tether anyway
Andrew Logan (4 days ago)
Hey George, just wanna give you props for all your hard work and providing a great channel!!!! I've been watching your videos for a little over a year now and must say your def one of the best crypto tubers if not the best. What I like most is the variety you bring. Your insight and thoughts regarding the most recent news and events is very helpful. You do a good job of covering a subject and moving on (nothing feels over done or dragged out). The Q and A session is cool as you interact with your community. I feel you're optimistic about the space but also provide a sense of realization. Furthermore, you havnt flaked in the bad times and keep bringing the content consistently. Keep up the great work, much appreciated!!!!
CryptosRUs (4 days ago)
Andrew appreciate that and your support. Yup, I am overly optimistic and excited about what to come but realize the situation we are in.
William Collis (4 days ago)
Nothing is to big to fail. This is good. The sooner it fails then we can move forward to where we need to go
CryptosRUs (4 days ago)
That's what they said back in 2008, let the banks fail. And then the bailouts happened.
Vex Vex (4 days ago)
tether just signed up with so many companies now. wouldn't think that anything will go wrong.
Wideolink (4 days ago)
Don’t mess with George Russian&Chinese fusion ! To the Moon !
CryptosRUs (4 days ago)
Lol still remember that huh?
Mark Carter (4 days ago)
Venezuelan government claims you at CIA floor attack on their electrical grid they got more oil than the Saudis
vndradeanthony (4 days ago)
Mark Carter huuhh??
alex cervantes (4 days ago)
Thank you for the explanation and the warning about Tether. I'll keep my eye on Tether
Matthew Harvey (4 days ago)
I actually think that tether is alright. Because how come Tron is with them then if it's not?
+Jon Frank - lol. idk why, All it can be is that there are more buyers than people wanting to sell. Its pumped more than 50% in the last month or so. It went from $0.0083 to $0.0145. Anyone who picked some up in the 0.008 range has made out like a bandit. I saw the ratio of DGB to Bitcoin at 430k to 1 at one point. I can't wait for it to hit $1 in the next year or two.
Jon Frank (4 days ago)
@digibyte is a scam and tron is the best lol just playing. Why did digibyte go up 20% this week?
+CryptosRUs , lol. I'm just messing with you. But I saw the documentary "China Hustle" and everything about tron and justin sun pull up these red flags for me. Like after he acquired bit torrent and half the staff quit. Lol. They probably thought, we dont mind helping the poor download movies for free, but when justin starts paying people to seed these movies... yeah we ain't messin with that can of legal worms.
CryptosRUs (4 days ago)
+Digibyte Awareness Team Lol I don't know it nor think that way. Some times people make mistakes, especially young people. Some learn from it and grow. Tron is in a great position to lead if Justin and team can execute.
Birds of a feather...
Jim Scheltema (4 days ago)
I wonder if the head of Sirin Labs has booked a flight to India... rumor is he has a weak heart!!!!
CryptosRUs (4 days ago)
lol
Jeremy Bye (4 days ago)
That commercial is hilarious at 2x speed!
Coffee Cup Crypto (4 days ago)
Thanks for all the news you are giving us and keeping the spirits up in this down market, even when its a bunch of bad news.
Jim Scheltema (4 days ago)
Why aren't Tether holders converting to BTC and pushing up BTC price?
CryptosRUs (4 days ago)
Either people are naive and don't think Tether will ever go belly up or all of the numbers are fudged.
I think tether going belly up would be a great thing for crypto. Everyone will FOMO into Bitcoin and drive up the price. If these exchanges go belly up, it will drive traffic to a few exchanges who are legit, and Bitcoin's liquidity will dry up. When the liquidity dries up, the price goes way up and it becomes a sellers market until the liquidity returns. The only people who will be hurt by tether going away are the idiots who bought it. Mostly day traders, who are parasites anyways.
Gravel Pit (4 days ago)
i dont disagree, though ive used USDT alot. Day Traders ARE parasites though.
cyz44 (4 days ago)
agreed... i would love for Tether to fail, get some cheap crypto and so we can see the true value of the crypto market once again..
G H (4 days ago)
Shame George. .....U a die hard. Turn it up already mate.Crypto Is over
Tac Robinson (4 days ago)
...I'm sorry..... a message from 2023
G H (4 days ago)
Trying to tell u to stop mate.Its over
wannabe psi (4 days ago)
Yep dead! Fidelity, Nasdaq, NYSE are clueless.....their just in it to lose money......lmao
CryptosRUs (4 days ago)
Why are you still watching then?

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