USDTto the notable transactions and the resulting FUDto ‘a, Tether CTO‘This Paolo ArdoinoIntimidation came from
Blockchain data analyst lookonchainshared the important transactions that marked the day. Lookonchainof crypto investors USDT on manipulative seen in transactions. The small-scale depeg situation experienced by USDT drew attention.
Responding to all these processes Tether CTO Paulo Ardoino , intimidated by manipulative attacks in the midst of a volatile and troubled market. Ardoino gave the message that they are ready for all kinds of price movements.
Markets are edgy in these days, so it's easy for attackers to capitalize on this general sentiment.
But at Tether we're ready as always. Let them come.
We're ready to redeem any amount.— Paolo Ardoino 🍐 (@paoloardoino) June 15, 2023
Latest FUD Wave: USDT (Tether)
These days, when the crypto market is going through tough days, the last FUDwave to Tether oriented began to spread. Many crypto investors USDT She is worried about her depeg situation. However, Tether CTO Paolo Ardoino said that they are ready for price volatility and USDT will stand strong.
crypto analytics organization lookonchain revealed that many investors prefer the borrowing method to sell USDT. In a post on Lookonchain, CZSamSun The transaction made by the investor drew attention. This user is on Aave USDT for short made a directional move. User, 31,544,278 USDTborrowed and this asset Converted to USDC. Market participants reacted quickly to de-peg, causing a significant increase in USDT borrowing from decentralized borrowing protocol Aave. Borrowers sold devalued USDT for DAI or USDC, both of which maintain their standard one-to-one value with the US dollar, in Curve’s 3 pools.
USDT is depegging!
CZSamSun shorted $USDT on #AaveV2 after USDT depegged.
He borrowed 31,544,278 $USDT from #AaveV2 and exchanged for 31,475,408 $USDC at a rate of $0.9978.
And he deposited 10M $USDC again on #AaveV2. pic.twitter.com/3rrfENocRk
— Lookonchain (@lookonchain) June 15, 2023
Also, the popular hedge fund manager a16z, Replaced 3.01 million USDT with 3 million USDC . Switching its assets to USDC a16z, later Converted nearly 997 thousand USDC to 1 million USDT . Arbitrage rush by borrowing caused price volatility in USDT. USDT is trading at $0.9973.
addressing the agenda ArdoinoHe said that the markets are tense these days and it is normal for arbitrageurs in manipulative trades to use this sentiment. ArdoinoHe stated that Tether is prepared for all kinds of transactions.
Tether CTOintimidating those who convert their USDT to USDC, “We are ready to pay back any amount they want.”said.
