{"id":440827,"date":"2020-10-03T01:00:00","date_gmt":"2020-10-03T01:00:00","guid":{"rendered":"https:\/\/ktsl888.com\/?p=440361"},"modified":"2024-06-11T17:46:42","modified_gmt":"2024-06-11T17:46:42","slug":"bitcoins-black-swan-what-happens-if-the-cftc-targets-tether-next","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoins-black-swan-what-happens-if-the-cftc-targets-tether-next\/","title":{"rendered":"Bitcoin\u2019s Black Swan: What Happens If The CFTC Targets Tether Next?"},"content":{"rendered":"

The unthinkable just happened: Bitcoin derivatives trading platform BitMEX is being targeted by the CFTC<\/a> for a variety of charges, and the company’s CTO has already been arrested related to the case. Now, the worst possible scenario could be on the horizon: The United States regulator could target Tether and parent company Bitfinex next.<\/p>\n

Here’s how this black swan event could play out, and how it could be devastating to the entire fabric of the cryptocurrency if this happens.<\/p>\n

Crypto Industry Giants Feel The Pressure Following CFTC Taking On BitMEX<\/h2>\n

The cryptocurrency market is currently experiencing a moment of uncertainty that surprisingly Bitcoin has held up well from. The most dominant derivatives trading platform over the last several years, BitMEX, was just slapped by the CFTC<\/a> and US Department of Justice with a slew of charges.<\/p>\n

Bitcoin price fell as a result of the negative news but has been keeping its head above $10,500 so far<\/a>. Regardless of how the crypto asset’s price is holding up, sentiment isn’t doing as well.<\/p>\n

Related Reading | $10K Bitcoin Shows Resiliency Facing BitMex Drama, KuCoin Hack, And Now This<\/a><\/strong><\/em><\/p>\n

Cryptocurrency valuations are driven by speculation primarily, and after the news broke, market participants took to Twitter to do what they love to do the most: speculate.<\/p>\n

A wide variety of conclusions have been drawn, such as “institutional racism,” “Bitcoin is dead,” and a number of other pessimistic outcomes. But there’s one scenario that could be especially bad for the entire cryptocurrency market.<\/p>\n

\"bitcoin<\/p>\n

BTCUSD Weekly What Happens If The Growing Tether Supply Takes Down Bitcoin? | Source: TradingView<\/a><\/pre>\n
Could Tether and Bitfinex Trigger A Black Swan In Bitcoin?<\/span><\/h2>\n
The two United States entities targeting BitMEX<\/a>, also have had their sights set on Tether and by relation, Bitfinex. The two businesses share a parent company and several other ties.<\/p>\n
While the token itself is a stablecoin tied one to one with the dollar, its existence has been anything but stable.<\/p>\n
Fears of Tether being insolvent<\/a> in part drove Bitcoin down to its bear market bottom of $3,200. Tether, which trades under the USDT ticker, was also central to a CFTC investigation involving Bitcoin price manipulation.<\/p>\n
Related Reading | How Does The Next Chapter In The Tether Printing Story Unfold For Bitcoin<\/a><\/strong><\/em><\/p>\n
Back then, however, Tether’s market cap was just $2 billion. Today, it’s over $15 billion<\/a>, and therefore significantly more integral to the overall cryptocurrency landscape.<\/p>\n
USDT is also now the base trading pair on several top cryptocurrency exchanges. A total collapse of Tether could result in a total collapse in the greater crypto market, and Bitcoin especially.<\/p>\n
The more Tether is printed<\/a>, the more analysts expect Bitcoin price to rise. But what if all that Tether is suddenly at risk of being worthless, or if the parent company is targeted further by the CFTC and the DoJ, much like BitMEX just did?<\/p>\n
Featured image from Deposit Photos, Charts from TradingView<\/pre>\n","protected":false},"excerpt":{"rendered":"
The unthinkable just happened: Bitcoin derivatives trading platform BitMEX is being targeted by the CFTC for a variety of charges, and the company’s CTO has already been arrested related to the case. Now, the worst possible scenario could be on the horizon: The United States regulator could target Tether and parent company Bitfinex next. Here’s how this black swan event could play out, and how it could be devastating to the entire fabric of the cryptocurrency if this happens. Crypto Industry Giants Feel The Pressure Following CFTC Taking On BitMEX The cryptocurrency market is currently experiencing a moment of uncertainty that surprisingly Bitcoin has held up well from. The most dominant derivatives trading platform over the last several years, BitMEX, was just slapped by the CFTC and US Department of Justice with a slew of charges. Bitcoin price fell as a result of the negative news but has been keeping its head above $10,500 so far. Regardless of how the crypto asset’s price is holding up, sentiment isn’t doing as well. Related Reading | $10K Bitcoin Shows Resiliency Facing BitMex Drama, KuCoin Hack, And Now This Cryptocurrency valuations are driven by speculation primarily, and after the news broke, market participants took to Twitter to do what they love to do the most: speculate. A wide variety of conclusions have been drawn, such as “institutional racism,” “Bitcoin is dead,” and a number of other pessimistic outcomes. But there’s one scenario that could be especially bad for the entire cryptocurrency market. BTCUSD Weekly What Happens If The Growing Tether Supply Takes Down Bitcoin? | Source: TradingView Could Tether and Bitfinex Trigger A Black Swan In Bitcoin? The two United States entities targeting BitMEX, also have had their sights set on Tether and by relation, Bitfinex. The two businesses share a parent company and several other ties. While the token itself is a stablecoin tied one to one with the dollar, its existence has been anything but stable. Fears of Tether being insolvent in part drove Bitcoin down to its bear market bottom of $3,200. Tether, which trades under the USDT ticker, was also central to a CFTC investigation involving Bitcoin price manipulation. Related Reading | How Does The Next Chapter In The Tether Printing Story Unfold For Bitcoin Back then, however, Tether’s market cap was just $2 billion. Today, it’s over $15 billion, and therefore significantly more integral to the overall cryptocurrency landscape. USDT is also now the base trading pair on several top cryptocurrency exchanges. A total collapse of Tether could result in a total collapse in the greater crypto market, and Bitcoin especially. The more Tether is printed, the more analysts expect Bitcoin price to rise. But what if all that Tether is suddenly at risk of being worthless, or if the parent company is targeted further by the CFTC and the DoJ, much like BitMEX just did? Featured image from Deposit Photos, Charts from TradingView<\/p>\n","protected":false},"author":517,"featured_media":440379,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-440827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"\nBitcoin\u2019s Black Swan: What Happens If The CFTC Targets Tether Next?<\/title>\n<meta name=\"description\" content=\"The unthinkable just happened: Bitcoin derivatives trading platform BitMEX is being targeted by the CFTC for a variety of charges, and the company's CTO\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/ktsl888.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin\u2019s Black Swan: What Happens If The CFTC Targets Tether Next?","url":"http:\/\/ktsl888.com\/news\/bitcoins-black-swan-what-happens-if-the-cftc-targets-tether-next\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoins-black-swan-what-happens-if-the-cftc-targets-tether-next\/"},"thumbnailUrl":"","image":{"@type":"ImageObject","url":""},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":[],"dateCreated":"2020-10-03T01:00:00Z","datePublished":"2020-10-03T01:00:00Z","dateModified":"2024-06-11T17:46:42Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin\\u2019s Black Swan: What Happens If The CFTC Targets Tether Next?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoins-black-swan-what-happens-if-the-cftc-targets-tether-next\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoins-black-swan-what-happens-if-the-cftc-targets-tether-next\\\/\"},\"thumbnailUrl\":\"\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[],\"dateCreated\":\"2020-10-03T01:00:00Z\",\"datePublished\":\"2020-10-03T01:00:00Z\",\"dateModified\":\"2024-06-11T17:46:42Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/440827"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=440827"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/440827\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=440827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=440827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=440827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}