[hectorr1]

Tether is the FUD that never stops giving, anyone remember Bitfinexed from 2017?

Do people try to manipulate price? Of course they do. Sometimes it works, retail investors get excited and pile in. Sometimes it doesn't, and whales get rekt. Markets are messy.

How do we fix this? Stop barring Bitcoin companies from working with mainstream banks, and USDT volume will dry up.

[semiotagonal]

If Bitcoin companies maintained an adequate level of know-your-customer/anti-money-laundering compliance, maybe the mainstream banks would work with them. But as it stands, the banks have no reason to take any risks in dealing with them. If people resort to Tether and get burned, it's not the banks' problem.

[yashap]

Indeed. The crypto dream often involves being able to move huge sums of money around the world, with no ability to trace it to real people. This is the opposite of what established financial systems want. Of course they don’t want to legitamize crypto currencies, they’d be introducing a massive vector for crime and tax evasion.

[jacobush]

Yep. The honest actors don't want anything to do with money laundering, the shady actors want these vectors for themselves so they can take a cut.

https://www.forbes.com/sites/heatherfarmbrough/2019/03/29/sw...

[biggestdecision]

Bitfinexed is looking a lot more legitimate since US regulators have started investigating Tether over the same accusations that Bitfinexed levelled against them.