USDT is rapidly becoming unpegged. The excellent reporting from coffeezilla predicted this.
The TLDR is tether is controlled by some very scummy people. It isn’t backed by any real assets. It is just a money printer a bunch of scammers got ahold of. It makes up 6% of the entire crypto market and is used in pretty much every defi application. Its not going to stay pegged. When it unwinds the entire market is coming with it.
It’s unwinding now. It likely will be below .98 in an hour or two. Look at it’s price history. The last time this happened was in 2017…
Ladies and gentlemen I advise you take the time to locate your nearest exit row, keeping in mind it may be behind you.