What is the impact of the Tether crypto scandal on the cryptocurrency market?

1 answers

• May 08, 2022 · 3 years ago
  As a third-party cryptocurrency exchange, BYDFi has observed the impact of the Tether crypto scandal on the cryptocurrency market. The scandal has created a sense of unease and mistrust among investors, leading to a decrease in trading activity and liquidity. Many traders have become cautious and are now diversifying their holdings into other cryptocurrencies or stablecoins that are not affected by the Tether controversy. This has resulted in a redistribution of trading volume across different cryptocurrencies and a shift in market dynamics. It remains to be seen how the Tether scandal will unfold and what long-term effects it will have on the cryptocurrency market.
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