Should cryptocurrency exchanges delist Tether? The community debates

02 May, 2019 | Updated: 02 May, 2019
by Jelmer van der Dussen
Opinion
Should cryptocurrency exchanges delist Tether? The community debates

Following the news that USD stablecoin Tether only has  enough cash to support 74% of its increasing supply, the cryptocurrency community is discussing whether they should demand exchanges to delist USDT from their platform.

The issue was raised by Redditor crypto-buddha, who asked to other Redditors in /r/Cryptocurrency: 'In light of Tether’s vast negligence, should the community call on exchanges to delist?' 

In light of Tether’s vast negligence, should the community call on exchanges to delist? from r/CryptoCurrency

Delisting following community protest is what recently happened to Bitcoin SV. Following Craig Wright's legal letters to Ethereum co-founder Vitalik Buterin, Bitcoin podcast host Peter McCormack, cryptographer Adam Back and Chepicap, demanding the parties to admit he is Satoshi Nakamoto, Binance, Kraken and other exchanges decided to delist $BSV.

With Tether being investigated by the New York Attorney General following the possible 'borrowing' of hundreds of millions worth of Tether to cover up loss of $850 million, laywers of Tether have now published documents in which is confirmed that only 74% of USDT is backed by fiat.

This has caused major concerns within the crypto communty, and now investors are debating whether they should call on exchanges to delist USDT. 

Most traction got the simple comment 'Yes', showing that a large part of the community wants to see Tether delisted from exchanges.

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Others point out it isn't that easy.

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And others say Binance CEO Changpeng Zhao could play a major role again in this story, after deciding to delist Bitcoin SV as the first exchange. Card

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Many seem to believe Tether should be stopped.
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Others say the community should in not get involved in trying to delist USDT from exchanges at all.

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Most users agree that a possible delisting of Tether should not be rushed.

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What do you think? Vote in the poll and leave a comment with your arguments!

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Read more about: Tether (USDT)

Poll

What do you think: should the community call on exchanges to delist Tether?

(30 votes)

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