Other Bets Props and Futures Some other fun bets that can be made on basketball include prop bets and futures. How To Bet News. Handicapping Your Basketball Bets When oddsmakers set the lines, they take many factors into consideration. If you have even one loss, you lose the entire bet. On the other hand the Magic must either win outright or lose by 3 or fewer points for a Magic spread bet to payout.
Tether is up 0. It has a circulating supply of 68,,, USDT coins and the max. If you would like to know where to buy Tether at the current rate, the top cryptocurrency exchanges for trading in Tether stock are currently Binance , FTX , XT. You can find others listed on our crypto exchanges page. USDT is a stablecoin stable-value cryptocurrency that mirrors the price of the U. The stated purpose of USDT is to combine the unrestricted nature of cryptocurrencies — which can be sent between users without a trusted third-party intermediary — with the stable value of the US dollar.
Stablecoins are increasingly used as an inflation hedge in recent times; compared to keeping fiat currency in a savings account averaging 0. However, keep in mind that regulatory, platform risks and more entail. Brock Pierce is a well-known entrepreneur who has co-founded a number of high-profile projects in the crypto and entertainment industries.
In , Pierce became the director of the Bitcoin Foundation, a nonprofit established to help improve and promote Bitcoin. Pierce has also co-founded Block. Prior to that, he had co-founded several successful companies, such as the online ad network Traffic Marketplace, entertainment studio RedLever and gambling website Pala Interactive.
As of , Collins is heading SmarMedia Technologies, a marketing and advertising tech company. Other than working on Tether, Craig Sellars has been a member of the Omni Foundation for over six years. Sellars has also worked in several other cryptocurrency companies and organizations, such as Bitfinex, Factom, Synereo and the MaidSafe Foundation. What Makes Tether Unique? USDT, on the other hand, is protected from these fluctuations.
This property makes USDT a safe haven for crypto investors: during periods of high volatility, they can park their portfolios in Tether without having to completely cash out into USD. Tether moves across blockchains like many other digital currencies. Willet was looking to build new cryptocurrencies on the Bitcoin protocol. Willet implemented this idea with Mastercoin, and one of its original members would later become the co-founder of Tether in Using Tether for liquidity began when it was added to the BitFinex exchange in January He says the only stablecoin with comparable collateral quality is USD Coin.
How Is Tether Backed? Despite stablecoins being a popular choice among crypto traders, Tether has some additional controversies regarding liquidity issues and whether its reserves are adequate to cover the number of USDT tokens in circulation. And that it was an issue of controversy more than a year ago. Tether vs. Terra is an algorithmic stablecoin. Instead of cash reserves in a bank account, Terra relies on programmatic language and the parameters its sets for another token on the Terra protocol to support the 1-to-1 U.
Relying on an algorithm rather than cash reserves is what caused TerraUSD to lose its price peg amid recent market volatility.
The firm revealed that only a fraction of its holdings — 2. That would place Tether in the top 10 biggest holders of commercial paper in the world, according to JPMorgan. Tether has been compared to traditional money-market funds — but without any regulation.
There have long been concerns about whether tether is being used to manipulate bitcoin prices, with one study claiming the token was used to prop up bitcoin during key price declines in its monster rally. Tether is useful for crypto investors because it offers a way to avoid the extreme volatility of other cryptocurrencies. What Is the Point of the Tether Token? Tether USDT offers a way for investors to avoid the extreme volatility of other cryptocurrencies. By moving value to USDT, a trader might reduce their risk of exposure to a sudden drop in the price of cryptocurrencies.
Security and liquidity Tether claims that it intends to hold all United States dollars in reserve so that it can meet customer withdrawals upon demand, though it was unable to meet all withdrawal requests in Tether purports to make reserve account holdings transparent via external audit; however, Tether never produced an audit showing it had the purported reserve. In January Tether announced that they no longer had a relationship with their auditor.
In June, Rosengren mentioned tether and other stablecoins as one of several potential risks to financial stability. Last week, Fitch Ratings warned a sudden mass redemption of tether tokens could destabilize short-term credit markets. Investors who want to enter the crypto market with a position of equal value can do so by converting their dollars into USDT. Conversely, investors who want to sell their cryptocurrencies but not leave the market can park their holdings in USDT instead of cashing out for dollars.
How does Tether work? To use Tether, customers have a couple of options. They can buy the stablecoin directly from Tether by opening an account with the company via its website. Next, a customer deposits U. In addition to the dollar, the company exchanges USDT for the British pound, the euro, the Mexican peso, gold, and yuan traded outside mainland China.
Tether tokens can be used on several blockchain networks, including Bitcoin, Ethereum, Solana , Algorand, and Tron. Customers may redeem their USDT by transferring them from a crypto wallet back into their Tether account. Tether then removes the tokens from circulation and pays the customer back in fiat currency.
There are more than 66 billion USDT tokens in circulation. How is Tether supported? Learn more How does Tether make money? This requirement limits the direct purchase of Tether primarily to professional investors. Ordinary investors may bypass these costs by going through cryptocurrency exchanges such as Coinbase or Kraken. What are the risks of using USDT? The greatest risk confronting holders of USDT is clear—if the stablecoin slips from its peg and loses value against the dollar or another reserve currency, it will lose credibility and may collapse as holders rush for the exits.
Treasury Secretary Janet Yellen called on Congress to pass legislation to regulate the tokens. Tether has said that the stress test it weathered in May demonstrates its resilience. How does USDT compare to other stablecoins? There are a number of other stablecoins in the market and some are pegged to hard currencies like USDT, while others are supported by precious metals such as gold, or algorithms. The No. It is composed entirely of cash and U. DAI is an algorithmic stablecoin that is backed by other cryptocurrencies.
It, too, rode out the collapse of Terra and is heavily used in popular finance platforms such as Aave, Uniswap, and Compound. The bottom line While stablecoins proved to be quite unstable in , Tether, the pioneer in the market, weathered the storm and has reemerged as a go-to tool for crypto investors who want an easy way to toggle between traditional currencies and cryptocurrencies.
Yet, should a market crash or a legal entanglement once again raise questions about the strength of its reserves, Tether could face a run on the bank that drains funds if investors seek redemptions of USDT en masse. Tether, and its customers, are on their own. Ready to take the next step in your crypto journey?
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