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How EndoTech Is Handling The Potential Increase In Tether (USDT) Volatility

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Here at EndoTech, we remain committed to excellence, client security, and the safety of funds. Due to unprecedented fundamental news relating to potential market risk, please see a technical statement from us here below regarding our automated action of risk avoidance and client protection measures.

Update 19-01-2021: We are back In USDT; the information below is no longer valid.

On January 17th, an increase in Tether (USDT) volatility is anticipated due to the regulatory situation (https://coingeek.com/tether-printing-presses-in-overdrive-as-regulators-watch-closely/).

To preserve our customers’ funds, EndoTech developed the following guidelines:

1)  This information does NOT concern clients with accounts at Coinbase, Gemini, Bitfinex, Kraken (balance in USD), 

2)  it only concerns clients with any active wallet balances at Binance.com/Binance.us.

Our Actions Before 17-01-2021

  • Binance Spot: We transferred funds to BUSD (Binance stablecoin)
  • Binance.US: We transferred funds to USD
  • Binance Futures: Our clients can choose to transfer USDT to BUSD or another coin of choice, in this case, you should use a Binance converter yourself

After 17-01-2021 If USDT Becomes Unstable

  • Binance Spot: We will trade with BUSD (Binance stablecoin)
  • Binance.US: We will trade with USD
  • Binance Futures: We will trade with USDT and provide a solution for clients who transferred funds in other coins

After 17-01-2021 If USDT Is Not Affected And Continues To Be Stable

  • Binance Spot: We will transfer BUSD back to USDT
  • Binance.US: We will transfer USD back to USDT
  • Binance Futures: We will trade with USDT and recommend our clients transfer funds back to USDT

Please note, you may opt to ignore this message completely and not carry out the changes outlined above. Such action or inaction is completely under a client’s sole control and choice.

All The Best,

The EndoTech Team

Endotech AI




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