I am getting worried about the Bitfinex & Tether scam’s potential to bankrupt exchanges. If there was a run on getting out of USDT into USD, and there was not enough USD (which there is likely not), it could cause prices to drop in free fall and any exchanges listing USDT trading pairs (Bittrex, Kraken, Binance, etc - full list here: https://coinmarketcap.com/currencies/tether/#markets) could crash and go out of business.
How hard would it be for Cardano to get ADA listed on Japanese exchanges? Their team knows the regulatory landscape well, as the majority of the ADA were sold in ICO to Japanese.
Can they focus on getting ADA on QRYPTOS and QUOINEX? They are fully regulated by the Japanese government and totally legit. I am from the US and had no trouble setting up a Qryptos account. I don’t know what other exchanges in Japan might be good.
It just seems like it would be a lot safer to have ADA in exchanges that are strictly regulated by their own countries, and not tied into this Tether situation directly.
If Tether collapses, it will have a huge damage on the entire crypto ecosystem, but at least if ADA is trading in Japanese exchanges trade will continue.
If you don’t know what I’m talking about, check out CrypoInvestor’s YouTube videos on Bitfinex and Tether:
If Bitfinix and Tether don’t self implode through their fraudulence, there is also a chance that the US Gov will shut down USDT because they don’t want a psuedocrypto currency backed by a national government’s currency