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Both the market and twitter have harsh reaction to Bitfinex, Tether news

Both the market and twitter have harsh reaction to Bitfinex, Tether news
In the wake of the just breaking news that Bitfinex and Tether are being investigated in connection with a missing $850 million, which was apparently covered up using money backing the Tether stablecoin, now the market has taken a notable downturn and twitter has come out to voice its opinions.
First off, the market bled away about $10 billion in mere minutes after the news broke. Bitcoin was able to hold support above $5,000, for now, and has rebounded back above $5,100.
Chart provided by Tradingview
Beyond Bitcoin, most of the market is now deeply in the red, with only a handful of coins showing green still.
As for twitter, many spoke up concerning this upsetting turn of events. Some had thoughtful observations:
Reading between the lines on this news (if the report can be trusted as sound info) --

*Tethers were real and backed 1:1* until Bitfinex CryptoCapital seizure meant that Tether changed to being backed by cash assets and the debt to Bitfinex instead.
32 people are talking about this
Tether is one of the biggest existential threats to the entire cryptocurrency space, and so many turned a blind eye to it in willful ignorance, downplayed the threat, or actively attacked those pointing it out, including me. Welcome to reality https://twitter.com/el33th4xor/status/1121526569141403662?s=21 
See Tony Arcieri's other Tweets
Others just wanted to let it be known they were paying attention:
It's far too early to see how all of this will shake out, but for now there is a lot of talk on twitter and a lot of volatility in the market. Stick here with Chepicap for all updates on this developing story!




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