BTC just crashed 25% for no apparent reason. What magnitude of decline do you think the implosion of stablecoins would produce?
the main issue would be what will push it up again. Both 2017 and 2020 were fake money that did the trick. Remove fake Money, and BTC and other cryptos would be no where near current levels. but so far no indication that this shit will stop anytime soon.
I think the actions of the FED are enough. When they print with disregard, happily say they want to see 2% inflation, meaning you lose 2% every year, and then continue to claim that 5 and 6% is just transitory, it becomes very clear that they are out to destroy the dollar. So I think the actions of the FED did more for crypto price appreciation than Tether.
Tethers back to printing 1 billion per day. Last weekend alone 1 billion went to FTX to help out price. The thing about blockchain it can not be hidden the price stopped Falling almost immediately after that.
Stablecoin created for the stable price, like as pegged to one dollar, although probably the price may change but it very little, for speculation trading, stable con less profitable, and maybe will cost consuming
It would be equal to the Mt Gox hack level of implosion. We will go to a bear market for another 3 years and then crypto will rise like a phoenix once again.