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Hey everyone,
I've been in crypto for a while and keep a good chunk of my savings in USDT. Lately, there's been a lot of talk again about USDT possibly not being fully backed and maybe even collapsing. I've found various reports, and honestly, it's making me pretty nervous.
For example, I've read about investigations into Tether (the company behind USDT) where they admitted it wasn't always 100% backed by US dollars. There's also constant chatter about the lack of a full audit from a "Big Four" accounting firm and concerns about their reserves including less liquid assets, not just cash. We've seen temporary "depegs" (when USDT briefly loses its dollar value), though Tether has always recovered. Plus, regulatory pressure is growing, and some exchanges are even starting to delist USDT.
So, here's my big question for the more experienced here: I'm holding my savings in USDT. Should I switch to another stablecoin like USDC, or DAI, or maybe spread my holdings across a few different stablecoins?
I've been in crypto for a while and keep a good chunk of my savings in USDT. Lately, there's been a lot of talk again about USDT possibly not being fully backed and maybe even collapsing. I've found various reports, and honestly, it's making me pretty nervous.
For example, I've read about investigations into Tether (the company behind USDT) where they admitted it wasn't always 100% backed by US dollars. There's also constant chatter about the lack of a full audit from a "Big Four" accounting firm and concerns about their reserves including less liquid assets, not just cash. We've seen temporary "depegs" (when USDT briefly loses its dollar value), though Tether has always recovered. Plus, regulatory pressure is growing, and some exchanges are even starting to delist USDT.
So, here's my big question for the more experienced here: I'm holding my savings in USDT. Should I switch to another stablecoin like USDC, or DAI, or maybe spread my holdings across a few different stablecoins?
