Binance is balls-deep in Tether (over $17 Billion USDT) while under the gun of regulators. If a rush on capital occurs on the exchange, some serious dominoes are going to fall…and you will likely get boned. If you’re smart, DO NOT store your coins (or cash) on Binance right now.
It's not new news that Binance is using Tether to support leveraged trading across the exchange…https://www.binance.com/en/blog/391838076530913280/Binance-Futures-Trading-Platform-Increases-Max-Leverage-to-125x-with-BuiltIn-Risk-Controls-for-Traders. (the overseas Binance, leverage trading is not allowed in binance.us) And also not news that Tether is being "backed" only by some suspiciously unknown (most likely fractional) percentage of cash and "commercial paper" from unknown entities. https://www.coindesk.com/tether-first-reserve-composition-report-usdt Binance is…
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