Unauthorized use of USDT's underlying assets was discovered, and the market became Sell-off.
Bitcoin has fallen sharply.
Unauthorized use of approximately 95 billion yen of backing assets of USDT is discovered. It seems that it has been confirmed that the parent company iFinex has received a court order from the Attorney General of the United States of America.
・ Bitcoin price plunges in court order to parent company issuing tether
The BTC, which had been in the 610,000 yen range early in the morning on the 26th of Japan time, dropped sharply in a short period of 30 minutes and temporarily dropped to 560,000 yen, down 5% from the previous day. It was confirmed from the contents of the order from the court etc. that the tether company which had been suspicious in the virtual currency industry for a long time misused USDT's backing assets.
And the consecutive holidays will start in Japan from tomorrow.
The Japanese market is closed, and I can not predict what kind of movement the virtual currency will be.
There is also a possibility that overseas institutional investors will set aside for Japan holidays!
During the GW "flash crash" warning has been issued.
The market that drops sharply in a moment is called "flash crash".
With a long break, it is more likely to happen when there are fewer market participants.
Japan has a long holiday, but the European and US markets are weekdays except May 1st and 8th. There is also a possibility that there is a "flash crash" because important fender announcements are also awaited.
It is safer to stop the automatic trading, it may be better to cancel the position.
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