In the final battle of USDT, you retreat first and we will fight another day

This article is from:Hashpie (ID: hashpie), Author: LucyCheng, forwarded with authorization.

Hashpie (ID: hashpie)

Picture taken from: Coinmarketcap

, Author: LucyCheng, forwarded with authorization.

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Picture taken from: Coinmarketcap

Specifically, since the New York State Attorney General asked Bitfinex and Tether to provide proof materials in early July and held a hearing on the 29th of this month, there have been many negative speculations in the market; The exchange is in danger of closing down," exaggerated remarks.

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Picture taken from: Coinmarketcap

Image from: Benrui Research Institute

Putting aside whether the New York Attorney General's Office has jurisdiction over Bitfinex and Tether, whether the state's "Martin Act" applies to the business of the two companies, etc. are still controversial issues; It will not have much impact on USDT. First of all, neither of these two companies is registered in New York, and the judgment can only prohibit Tether and Bitfinex from conducting business in New York State; second, most of the USDT currently flowing into the market is mainly for Chinese traders, and USDT flowing to the United States Only 3% of circulation. Therefore, the lawsuit of the New York Attorney General's Office can only be regarded as scratching the surface of USDT's impact on USDT. Moreover, judging from the price trend of USDT’s previous two thunderstorm events, the market’s digestion of its black material is accelerating, and the USDT’s consensus seems to be gradually strengthening.

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Picture taken from: Coinmarketcap