#Cambodia#Crypto#Cryptocurrencies#Tether: "In pockets of Phnom Penh frequented by Chinese expatriates, the scrolling neon signs at 24-hour currency exchanges offer to trade yuan for Tether, the cryptocurrency of choice for moving money in and out of China, gambling and cashing out the gains of Southeast Asia’s cyber scams.
Like all cryptocurrencies, Tether (or USDT) – a so-called stablecoin because its value is tied to the US dollar – is officially banned for trade in Cambodia.
Yet security experts say it has fast become an integral part of the country’s shadow economy; with a low fee and no restrictions to move, hide and launder money at speed.
I get a lot of people calling out my #Bitcoin skepticism (as in: Bitcoin is a worthless piece of hot garbage trying to kill our planet) because number is again going up. This time it's real, now that the scamers have been caught and all.
But if you want to know why Bitcoin goes up you just need to look at one curve: Tether has printed 4 billion USD from thin air in the last week.
While it's great to see the crypto scam artists SBF and CZ been caught and punished (sadly without making their victims whole) the actual rock that whole scam economy is built on is Tether. Has been Tether for years.
And I really don't get why US regulators let some weird company print fake USD.
Cuarta entrada de la partida de Tether terminada. No es por fardar ni mucho menos, pero nos está quedando la mar de interesante la trama. Y eso que acabamos de empezar, como quien dice :ablobcatenjoy:
Good explanation of the super mega advanced fuckery that happens in #crypto. Like Bitfinexed keeps saying, the entire crypto market is less than 20 guys in a Signal group.
Regarding the prediction in the article that binance will be byenance to save tether, im not super sure, but its an interesting take.
#bitcoin going to 1 million dollars (USDT denominated) seems likely though, and will be incredible fucking funny. (for outsiders: this would be really bad, btw)
OC Tether Amplifies Eastern European Presence with CityPay.io Investment (cryptotale.org)
Tether invests in CityPay.io, expanding crypto payment options in Eastern Europe's vibrant markets, impacting over 400,000 users.
OC USDC Takes Lead in Stablecoin Transactions This Year, Surpasses Tether (cryptotale.org)
Circle's USDC stablecoin has overtaken Tether's USDT as the dominant player in transaction volume in 2024.