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Bloomberg published an editorial where it foresees the dangers to the traditional financial system with the combination of the cryptocurrency company Tether Limited and the upcoming Donald Trump government in the United States.
The medium highlights that the Trump-Tether duo 'presents several potential issues' and that two, in particular, stand out.
First, the larger Tether grows, assumes risks, and connects with Wall Street firms like Cantor Fitzgerald, the financial company of Hotward Lutnick, the future Secretary of Commerce of the US; the higher the possibility that 'crises in cryptocurrencies infect the overall financial system'.
Second, Bloomberg suggests that the interconnection between both ecosystems could facilitate the transmission of instability from the cryptocurrency market to conventional financial institutions, complicating global financial stability.
The publishing company believes that a "resurgent Tether" could expand opportunities for illicit activity, "undermining the ability of governments to fight crime, counter terrorism, and enforce sanctions."