Centralised v Decentralised

Low trust level for Tether and Bitfinex

By Yugocean | Crypto Champion | 10 Dec 2023


     Paolo Ardoino's centralized crypto firms Tether and Bitfinex have begun to act on the orders of US authorities, this has lowred trust.


Tether controls it's stablecoin

   Although the cryptocurrency community advocates for decentralisation, Tether's token is entirely centralised because it is financed by Tether's reserve. Even if Tether currency is stored in a private key wallet, Tether has the ability to freeze any Tether currency held at any address and make it worthless.


Binance was targeted for Bitfinex

     Some facts suggest that Paolo Ardoino was trying to make his Bitfinex exchange to take the place of Binance, so he was eager to take action. CZ was also concerned about the freezing of billions of Binance's USDT. This is the reason why CZ pleade guilty without fighting the case.


Get your investment out of centralised assets

     Decentralisation is the dream of Satoshi Nakamoto, the person who invented Blockchain, and for the same reason, a lot of crypto experts advise taking crypto off exchanges. They ought to include the recommendation that investors must refrain from making any kind of investment in centralised tokens.

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Yugocean
Yugocean

Judge me by my action. Personally everyone will do self praise,.


Crypto Champion
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