The Reddit effect is a very powerful and well documented one that can bring change and influence thousands of people. Essentially, once anything goes trending on Reddit, in this case crypto related, it’s pretty much game over.

A user on r/cryptocurrency, u/Toyake, recently posted about Tether sneakily updating their website claiming Tether (USDT) is no longer backed by 1 USDT for every 1 USD in cash reserves.