A duplicate of this market, but for 2023.
Tether (USDT) is a so-called "stablecoin", i.e., a cryptocurrency which is (supposed to be) backed by actual currency so that its value is pegged to the US Dollar. Tether has long been suspected to not actually hold the reserves necessary to back all existing USDT. A bounty of $1 million [1] for anyone who provides information on Tether's backing has so far not been claimed. On the other hand, Tether is very useful for trading cryptocurrencies, and many in the business probably do not care about whether it is actually backed, as long as it serves its purpose.
This market resolves YES if the value of one USDT is less than 0.9 US Dollars for more than one (consecutive) week of the year 2023 (as reported by [2]).
1,000🏅 Top traders
| # | Trader | Total profit |
|---|---|---|
| 1 | Ṁ123 | |
| 2 | Ṁ116 | |
| 3 | Ṁ115 | |
| 4 | Ṁ110 | |
| 5 | Ṁ101 |
People are also trading
This is a funny analysis of Tether red flags. I'm too dumb to understand it all, but it sounds plausible. Still I fear Tether will survive yet.
https://cryptadamus.substack.com/p/the-tetherers-apprentice?utm_source=profile&utm_medium=reader2
Just a detail. Not a resolution:
https://twitter.com/ParrotCapital/status/1686426340545925120?s=19
Note this market should be closely linked to this one but does not currently trade as if that were true: https://manifold.markets/ACXBot/36-will-tether-depeg-in-2023 (I am assuming the "of the year 2022" is a typo caused by copy/pasting.)