Tether’s Stablecoin in Big Trouble! 🤯

So, listen, my friends, the big kahuna of crypto, Coinbase, is ready to toss Tether’s stablecoin off the platform like a rotten tomato! 🍅

According to the Wall Street Journal, Coinbase’s CEO, Brian Armstrong, is like, “If the U.S. government says ‘jump,’ we’ll ask ‘how high?'” He’s predicting that new regulations might force stablecoins to hold all their money in government bonds and get audited like a rabbi on Passover! 🤪

Coinbase already kicked Tether out of their European operation, claiming it wasn’t playing by the EU’s rules, like a kid who forgot his homework!

Tether’s USDT token is like the king of stablecoins, sitting on a throne of cash with other pretenders like Circle’s USDC and Ripple’s RLUSD. But they are just little pretenders, like the chorus line in a Mel Brooks musical! 🎶

Tether says 80% of their assets are in T-Bills, and they even hire a fancy accountant, BDO Italia, to make sure everything is kosher!

Since the 2022 crypto crash, everyone wants to know where the money is, and these quarterly reports are like a magician’s trick to distract us from the real question!

Tether’s critics say these audits are like saying you have a big, juicy steak, but they just show you the plate! 🥩

Tether is basically operating in the wild west, where the rules are more relaxed, like a saloon after midnight! 🤠

Tether is even moving their headquarters to El Salvador, the land of Bitcoin! What’s next? They’re going to start wearing sombreros?

2025-01-21 23:31

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