Is Elon Musk and the Founder of Dogecoin Waiting for the Collapse of This Altcoin in the Top Five?


Elon Musk, the CEO of Tesla, the world’s largest electric vehicle manufacturer, sat on the agenda of the crypto currency ecosystem with the acquisition of the social media giant Twitter. Billionaire investor Elon Musk has regained the interest of both the general markets and the crypto currency ecosystem investors with his latest move on Twitter.

Elon Musk Likes Tether

Tesla CEO Elon Musk liked a negative post on Twitter about Tether, which is in the top five by market capitalization. In a post on social media giant Twitter, a user named Jason shared a data graph, suggesting that former CEO Sam Bankman-Friend, who was blamed for the collapse of the “once” popular cryptocurrency exchange FTX, which opened deep wounds in the cryptocurrency ecosystem with its collapse, bought over $36 billion of Tether, covering the majority of all issued Tethers. The founder of the meme token Dogecoin (DOGE), which was launched on the market for the purpose of a joke on this exchange and gained popularity in the markets due to the intense interest of investors, included the following statements in response to the shared Tweet:

The only thing that matters is whether tether is really supported 1:1.

Tether Explanations

Elon Musk, who liked the statements made by the Dogecoin founder in response to the announced data, started discussions between the Dogecoin founder and crypto currency investors about whether Tether is waiting for Decadence. In addition, Tether, which is the subject of discussion, had publicly shared its reserves in recent statements. Tether CTO Paolo Ardoino drew attention to transparency in his statements about the reserve and made the following statements:

Tether is proud to present this latest consolidated reserve report, which once again strengthens its leading position in transparency.

On the other hand, according to the latest reports of Tether, its reserves are as follows: Its consolidated total assets amount to at least 68,061,618,458 US Dollars. Its consolidated total liability is US$67,811,510,720, of which US$67,805,112,981 is related to the issued digital tokens.

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