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Tether Collapses in 2022

Question

Tether is a controversial cryptocurrency with tokens issued by Tether Limited. It formerly claimed that each token was backed by one United States dollar, but on 14 March 2019 changed the backing to include loans to affiliate companies. The Bitfinex exchange was accused by the New York Attorney General of using Tether's funds to cover up $850 million in funds missing since mid-2018.

Will Tether collapse before 2023?

The question will resolve as Yes if any of these conditions are true:

  • Tether (USDT) trades for less than 0.50 USD continuously for more than 7 days on FTX, Binance, and Coinbase.
  • Tether's price as shown on Coingecko falls below 0.50 USD continuously for more than 7 days.
  • Trading any USDT pair on FTX, Binance and Coinbase will be suspended for more than 7 days.

The question will also resolve as Yes in case all the 3 exchanges will suspend any transactions for more than 7 days. The period of 7 days can start any time before December 31, 2022. Thus, it is possible that the period could end in 2023.

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