Paolo Ardoino, CTO of Bitfinex & Tether_to, recently claimed that USDT would be able to facilitate the most needed stability at this point in time.  He recently opined that the DeFi space would be facing systemic risk only if it is leverages value from the digital asset space.

The CTO opined that it is not practical to have crypto assets rely purely on themselves.  He called DeFi a mass of complicated financial products.  Therefore, cannot provide stability purely relying on a bunch of highly volatile digital assets.

He recollected about how MakerDAO was coming to an emergency shutdown due to a $4 million debt bubble. Therefore, Paolo Ardoino clarified that for DeFi space to grow, they need to leverage value elsewhere to diversify risk.

He was not bothered about anything that anyone has to state about Tether.  He is very clear and confident that Tether is resilient. He is confident that Tether will be able to facilitate a “safe set of shoulders” for the DeFi Ecosystem.

Sydney Ifergan, the Crypto Expert, tweeted:  “Whether Tether (USDT) or any other Cryptocurrency are going to try to keep their best foot forward to prove themselves during these hard times. Time will unfold winners.”

Tether (USDT) or any Crypto Is it worth it?

At times when there is too much uncertainty in the market, the hedge funds go to cash.  To minimize volatility, assets are sold.  Now with unlimited printing of money, cryptocurrency is one of the reliable havens.

With the governments printing more money, the fiat that people have in their pockets are becoming worthless. Whether we all acknowledge it or not, even those fiat currencies that are not the USD are in some way linked to the USD. Governments are playing with the money supply, and common sense should dictate that this is not sustainable.

We need to resort to a cryptocurrency whether Tether (USDT)or any other best winner is not controlled by anyone and to crypto that can do fancy things for people. It is time we upgrade to a better form of money. For instance, with bitcoin, there is no unlimited printing, and it is cool to own BTC, hold it, spend it, and like it because it provides the kind of control we need.

Cryptocurrency is good because governments and the banks will not be able to control it.  However, when a scam happens in a blockchain, we know how it occurred, and it can be hard to recover.  There is no insurance for blockchain-based threats, and governments might not interfere either way. 

Just like stock value, the value of the cryptocurrency might fluctuate.  Since digital currencies are new, it is only practical for people to invest only as much as they can afford.  The idea of working away from the government is indeed a distant dream for now. However, a part of the value is worth being stored in cryptocurrency.