The Crypto Elephant Still Being Ignored During the Latest Crypto Carnage
And the implosion of TerraUSD
The giant elephant in the room of which no one is speaking about, or if people are speaking of it, only in whispers, is the very first signs of an event I predicted would happen well before any of this ongoing crypto chaos ensued, way back on 9 February, on my patreon platform. In that post, sent to Benefactor level patreon members, I stated that if a certain event happened, “it would likely put Tether Limited out of business and every USDT owner will scramble to dump all their USDT as it severely “breaks the buck”.
Back then, I wasn’t being hyperbolic in my analysis, and my general prediction that USDT would break the buck has already happened, with USDT plummeting as low as $0.955 at 2:20AM on 12 May.
Consequently, even though all the attention has been focused on the collapse of TerraUSD from its $1 peg to below $0.38 on 12 May, the bigger news of concern was USDT’s temporary breaking of the dollar as well. Why? Well, the event that could crash USDT into worthlessness is still a possibility on the horizon and has not yet happened. What is that event?