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How to know if a coin/exchanger has funds and is not a scam?
After having a great closing of the year 2020, plus a successful 2021, the word that has trended the most in 2022 for the crypto world is uncertainty, doubts... many doubts. If the first quarter had slight declines, everything spilled over when the Terra company in May had a break with its then stablecoin UST and the LUNA coin, now we are close to 2023 with the news of the bankruptcy of FTX, one of the main exchanges in the market, plus its FTT currency where the BTC falls before these imminent downturns.
The reasons for both? Similarly, it is discovered that they do not have the fund they said they mentioned every day in control, which leaves a financial air, causing them to lose a large amount of money. Although they are not officially mentioned as Scams, because that would alter the situation in bearish performance, day-to-day followers, can see it this way, further threatening the future of their investments and jobs in the crypto world.
Because of this, there are doubts about so many coins, like the one that many of us know, the great unknown that USDT Tether has if it claims to have the monetary weight it claims to have if this or others were to collapse further, what would be of the future in their prices? For this reason, more than ever, exchange companies must be more alert to a new movement that alters the market.
What you should keep in mind is that it will not be the last time that a currency that in a few minutes was a stable place, has a high collapse that changes the environment of the world of digital currencies, if it happened to one of all the ones we have at the eyesight could be at risk as well. ATTENTION.