#美联储降息预期 Looking back at history, Federal Reserve rate cuts are often a significant turning point in the economy. And today’s news reminded me of the scene on the eve of the 2008 financial crisis. At that time, many institutions were also betting on rate cuts, hedging declining yields through high-risk investments. But as we all know, that gamble ultimately led to disastrous consequences.

Now, it seems Tether is repeating the same mistake. They are heavily buying gold and Bitcoin, undoubtedly betting on the Fed to cut rates. But as Hayes said, if these assets drop by 30%, Tether could become insolvent. Such high-risk operations are concerning.

We must remember that the primary goal of stablecoins is to maintain stability, not pursue high returns. Tether’s actions could jeopardize the stability of the entire cryptocurrency ecosystem. If USDT collapses, it will trigger a chain reaction, with impacts far beyond the Lehman Brothers collapse in 2008.

History has shown us that excessive optimism and greed are often the preludes to disaster. We should stay vigilant and closely monitor Tether’s movements. At the same time, this also reminds us to reflect on the current lack of regulation in the crypto market. Without proper oversight, similar risky behaviors will continue to repeat.