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I like that he calls them "coin". Because they definitely aren't cryptocurrency and have almost nothing to do with cryptocurrency. They're all just off-chain market inventions created by financial people because they refuse to understand what cryptocurrency is and want something more like their normal, easily manipulated, financial markets and derivatives.

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Or, maybe it's because cryptocurrency isn't actually useful for the things people claim it's useful for...

It's not even created by financial people. If you watch the coffeezilla video that some other people in this thread linked to, you'll see that the people behind Tether have backgrounds in various types of fraud.

Also, this affects the entire cryptocurrency market. If you own any cryptocurrency, you're exposed to risk from Tether's collapse even if you hold no Tether yourself.

>backgrounds in various types of fraud.

Right. Financial people.

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