Heres some BTC food for thought:Why tether might Tank the Crypto...

Heres some BTC food for thought:

Why tether might Tank the Crypto Market on Jan 15th.

Bitcoin and Tether Lawsuit on January 15th.

Bitfinex and Tether have till the 15th of January to submit documents to the New York state attorney general about their financial relationship. The shortfall of $850m was allegedly printed by Tether and given to Bitfinex to cover up the losses Crypto Capital created. It is speculated Bitfinex and Tether can't submit any documents without revealing their cover-up. This will result in the conclusion that Tether isn't backed 1:1 by USD by a lot of investors and will result in more investigation by the attorney general. Tether is unaudited at the moment, meaning no one checked the bankroll of Tether if there really is $23b USD there.

Article here:

https://www.reddit.com/r/CryptoCurrency/comments/ksdfne/why_tether_might_tank_the_crypto_market_on_jan/

- There is a correlation between the increase of USDT market Cap and Bitcoin price appreciation.

- This is a concerning trend if Tether is not backed by $USD

- Tether is the largest Stablecoin in the world.

- In 2020 they "printed" 17 Billion in USDT

- Total market cap = 24 Billion. This is what they should have in reserve. (in Theory)

- Every major Crypto exchange has significant exposure to this Asset

- Have these Corporations done their due diligence.

What can we expect?

In a word VOLATILITY.

- USDT value theoretically will decrease if not found to be 100% backed

- Rest of the market is likely affected as this could prove sector wide semi-artificial growth.

- Expecting Cryptos, especially Bitcoin price to dump.