Will Tether (USDT) be "unpegged" in 2022?
89
95
แน€1.5K
resolved Jan 1
Resolved
NO
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 bot 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 2022 (as reported by [2]). [1] https://hindenburgresearch.com/tether/ [2] https://coinmarketcap.com/currencies/tether/
Get แน€1,000 play money

๐Ÿ… Top traders

#NameTotal profit
1แน€803
2แน€612
3แน€363
4แน€253
5แน€184
Sort by:
predicted NO

@ZhaoNan

I think this can resolve NO now

I made one for 2023 as well.

predicted YES

Alameda had a large Tether holding: https://cointelegraph.com/news/two-firms-account-for-the-majority-of-tether-received-report
Interesting patio11 thread https://twitter.com/patio11/status/1593432880004202496
I'd not be surprised if there were new documents surfacing in the next period during the clean up process stating a bunch of the Tether Alameda bought was paid for by FTT tokens.

bought แน€200 of NO
predicted NO
Still no.
predicted NO
Still no.
predicted YES
@Gigacasting That's not an audit, that's an attestation. Same thing they always did, inlcuding the times where they were later found to be lying about their assets. I don't see how this changes the evaluation.
bought แน€98 of NO
This is fully backed (or at worst, they might lose a little on commercial paper, and be only 99.x% backed). Even when they weren't fully backed, it was basically 99% backed.โ€ฆ
predicted YES
@Gigacasting Why do you think so?
predicted YES
predicted YES
Yeah, it was quite exciting! Maybe my resolution criteria were a little too strict, but I'm not going to adapt them, ofc.
predicted YES
Tether spiked down to 95 today
bought แน€15 of YES
We should make this market a stablecoin :D