Tether Comment from Ethereum Founder! After LUNA, 3AC and FTX, Is It Their Turn?

Cryptocurrency investors are having a difficult 2022 year. Projects spoiled by ample liquidity in the bull market had to face bankruptcy in the bear market.

The process, which started with LUNA wiping $60 billion from the market, caused credit and investment institutions such as 3AC, Celsius and Voyager to fail.

The fire finally spread to Alameda and FTX.

Who’s Next?

Economics writer Noah Smith shared a visual that Tether could be next. Because when we look at it, it seems that there is no one else in the industry who can be a great source of FUD.

This image was responded to by Ethereum founder Vitalik Buterin.

Stating that Tether remained strong despite all that, Buterin said that this performance exceeded his expectations.

“I have to admit I’ve been very critical of Tether in the past. It’s still not as transparent as it should be. However, they exceeded my expectations given what has happened to many other major currencies in this bear market.

But in general, we should start to respect those who build, not those who make big money.”

I have to admit, I’ve been very critical of @Tether_to in the past, and their transparency is still not nearly what I think an asset-backed coin should have, but especially given what’s happened to so many other big-money hotshots this bear, they’ve exceeded my expectations!

— vitalik.eth (@VitalikButerin) November 9, 2022

Hours after Vitalik’s comments, Tether experienced a depeg exceeding 2%. It is considered that the deterioration in Tether may be caused by Alaade.

Tether had previously passed a $10 billion stress test and quickly recovered. If Alameda had the power to damage Tether, it would save FTX first.

We will also be following the developments on the Tether side.

#TetherThe depeg in has exceeded 2%. 🩸 pic.twitter.com/JKtZhUQoK2

— Bitcoin System (@bitcoinsystem) November 10, 2022