You can now also convert USDT (Polygon zkEVM) and USDT (Cosmos) into Vietnamese Dong
Yes, yes… we know, “Tether is a scam” and is about “to implode any day now” – as it has been the case for many years.
Meanwhile Tether keeps expanding its influence and is likely to breach the 100bn$ marketcap barrier in short order – once the money printers at the Federal Reserve get back to business as usual after the last few years of “quantitative tightening”.
…and if this sounds a lot to you, just be reminded that the US government increased their debt load by 500bn$ just within the last two weeks, an equivalent of over six times of Tether’s current market cap.
If looking at these charts makes you anxious:
Good, it should!
This is your inner voice telling you that you still have homework to be done to prepare for what’s about to unfold.
Potentially buying some Bitcoin, putting it in cold storage is a good starting point… and if you need a helping hand to guide you through the process, you know who to talk to.
But back to Tether itself:
There is a good reason to assume that Tether at this point might be the most profitable per capita company on earth – ahead of Blackrock, ahead of Goldmans Sachs, ahead of basically anyone who is not directly engaging in the seigniorage business (“printing money out of thin air”).
While some of the criticism hurled towards Tether for their opacity might be justified – don’t think for a moment that there is not a huge incentive for other players in the space to finance and launch targeted attacks and campaigns to take a bigger slice of that juicy pie of interest rate arbitrage (pay USDT holders zero – collect 4-5% coupon payments on Treasury holdings).
Does this mean that all is good and clean with Tether?
No, we simply don’t know that.
It just means that you should be very cautious about taking most of the FUD campaigns around Tether at face value – more often than not moneyed interests are behind it who have their own best interest in mind, not yours.
…and if you still don’t like to take the risk profile of Tether?
Well, you can always sell them instantly – for Bitcoin. For other stablecoins. Or for Vietnamese Dong. And if you got a whole unpractical bulk of it – our OTC desk is ready to serve those needs as well.
