The Tether Death Spiral

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About: Binance Coin USD (BNB-USD), BTC-USD, COIN, COINB, GBTC, USDT-USD
by: Hans Hauge
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Hans Hauge
Cryptocurrencies, Bitcoin, Blockchain, tech
Summary

There are so many red flags around Tether, I don't know where to start.

Bitcoin priced in Tether spiked to a premium of $1,000 above the market average on exchange Bitfinex, which owns Tether. The same thing that happened right before Mt. Gox collapsed.

Tether traded as low as $0.86 on the Kraken exchange in the last 48 hours.

Tether

Guys, I've been telling you that if Tether (USDT-USD) were to collapse, it could bring a Bitcoin (BTC-USD)(COIN)(OTCQX:GBTC) Black Friday. Well, it looks like this is