<p>S&amp;P Global Ratings &#273;&atilde; h&#7841; x&#7871;p h&#7841;ng &#7893;n &#273;&#7883;nh c&#7911;a stablecoin USDT c&#7911;a Tether t&#7915; m&#7913;c b&#7883; h&#7841;n ch&#7871; xu&#7889;ng m&#7913;c y&#7871;u, do c&oacute; s&#7921; gia t&#259;ng ti&#7871;p x&uacute;c v&#7899;i c&aacute;c t&agrave;i s&#7843;n bi&#7871;n &#273;&#7897;ng nh&#432; Bitcoin. &#272;&#7897;ng th&aacute;i n&agrave;y &#273;&atilde; l&agrave;m d&#7845;y l&ecirc;n cu&#7897;c tranh lu&#7853;n c&#259;ng th&#7859;ng tr&ecirc;n m&#7841;ng x&atilde; h&#7897;i Trung Qu&#7889;c, v&#7899;i c&aacute;c nh&agrave; giao d&#7883;ch b&agrave;y t&#7887; lo ng&#7841;i t&#7915; ho&agrave;i nghi &#273;&#7871;n ho&#7843;ng lo&#7841;n ho&agrave;n to&agrave;n.</p>
<p>Th&#7901;i &#273;i&#7875;m n&agrave;y r&#7845;t quan tr&#7885;ng &#273;&#7889;i v&#7899;i th&#7883; tr&#432;&#7901;ng ti&#7873;n &#273;i&#7879;n t&#7917; ng&#7847;m c&#7911;a Trung Qu&#7889;c. H&#417;n 20 tri&#7879;u ng&#432;&#7901;i tham gia ph&#7909; thu&#7897;c v&agrave;o USDT nh&#432; l&agrave; con &#273;&#432;&#7901;ng ch&iacute;nh &#273;&#7875; <a href="https://vn.beincrypto.com/will-dats-like-microstrategy-bitmine-fade-soon/" target="_blank" rel="noopener">giao d&#7883;ch t&agrave;i s&#7843;n k&#7929; thu&#7853;t s&#7889;</a>, ngay c&#7843; sau l&#7879;nh c&#7845;m v&agrave;o n&#259;m 2021 c&#7911;a n&#432;&#7899;c n&agrave;y.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-s-amp-p-flags-reserve-composition-concerns">S&amp;P c&#7843;nh b&aacute;o v&#7873; s&#7921; lo ng&#7841;i trong c&#417; c&#7845;u d&#7921; tr&#7919;</h2>

<p>B&aacute;o c&aacute;o ch&iacute;nh th&#7913;c t&#7915; <a href="https://www.spglobal.com/ratings/en/regulatory/article/stablecoin-stability-assessment-tether-usdt-s101659836" target="_blank" rel="noopener">S&amp;P Global</a> ph&aacute;t h&agrave;nh v&agrave;o th&#7913; T&#432;, nh&#7845;n m&#7841;nh nh&#7919;ng r&#7911;i ro &#273;&aacute;ng k&#7875; trong c&#7845;u tr&uacute;c d&#7921; tr&#7919; c&#7911;a Tether. <a href="https://vn.beincrypto.com/bitcoin-reclaims-90k-ethereum-3k-exchange-flows/" target="_blank" rel="noopener">Bitcoin</a> hi&#7879;n chi&#7871;m 5.6% USDT &#273;ang l&#432;u h&agrave;nh, v&#432;&#7907;t qua m&#7913;c d&#7921; tr&#7919; tr&#432;&#7899;c &#273;&acirc;y &#273;&atilde; c&ocirc;ng b&#7889; l&agrave; 3.9%. S&amp;P ch&#7881; ra s&#7921; thi&#7871;u minh b&#7841;ch v&agrave; gi&#7899;i h&#7841;n trong vi&#7879;c c&ocirc;ng b&#7889; t&agrave;i s&#7843;n d&#7921; tr&#7919;.</p>
<p>Theo b&aacute;o c&aacute;o t&#7915; qu&yacute; 1 &#273;&#7871;n qu&yacute; 3 n&#259;m 2025 c&#7911;a Tether, c&ocirc;ng ty n&agrave;y gi&#7919; 9,9 t&#7927; USD trong Bitcoin v&agrave; 12,9 t&#7927; USD trong <a href="https://vn.beincrypto.com/tether-gold-buying-new-risks/" target="_blank" rel="noopener">v&agrave;ng</a>. T&#7893;ng c&#7897;ng, c&aacute;c t&agrave;i s&#7843;n bi&#7871;n &#273;&#7897;ng n&agrave;y chi&#7871;m kho&#7843;ng 13% t&#7893;ng d&#7921; tr&#7919; h&#7895; tr&#7907; kho&#7843;n n&#7907; 174,4 t&#7927; USD. Tether duy tr&igrave; 181,2 t&#7927; USD trong d&#7921; tr&#7919; v&agrave; &#273;&atilde; t&#7841;o ra h&#417;n 10 t&#7927; USD l&#7907;i nhu&#7853;n trong ba qu&yacute; &#273;&#7847;u c&#7911;a n&#259;m 2025.</p>
<p>Ph&acirc;n t&iacute;ch c&#7911;a S&amp;P c&#361;ng nh&#7845;n m&#7841;nh s&#7921; ti&#7871;p x&uacute;c &#273;&#7871;n c&aacute;c t&agrave;i s&#7843;n r&#7911;i ro cao, nh&#432; c&aacute;c kho&#7843;n vay c&oacute; b&#7843;o &#273;&#7843;m, tr&aacute;i phi&#7871;u doanh nghi&#7879;p, v&agrave; kim lo&#7841;i qu&yacute;. C&#417; quan n&agrave;y l&#432;u &yacute; r&#7857;ng v&#7851;n c&ograve;n nh&#7919;ng l&#7895; h&#7893;ng trong th&#7921;c h&agrave;nh c&ocirc;ng b&#7889;, l&agrave;m d&#7845;y l&ecirc;n nghi ng&#7901; v&#7873; kh&#7843; n&#259;ng l&acirc;u d&agrave;i c&#7911;a USDT gi&#7919; m&#7913;c &#273;&#7891;ng &#273;&#7893;i 1-to-1 v&#7899;i &#273;&ocirc; la M&#7929;. Tuy nhi&ecirc;n, b&aacute;o c&aacute;o minh b&#7841;ch c&#7911;a Tether cho th&#7845;y vi&#7879;c n&#7855;m gi&#7919; Kho b&#7841;c M&#7929; h&#417;n 113 t&#7927; USD, chi&#7871;m ph&#7847;n l&#7899;n trong d&#7921; tr&#7919; c&#7911;a h&#7885;.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-chinese-traders-react-with-mixed-emotions">C&aacute;c nh&agrave; giao d&#7883;ch Trung Qu&#7889;c ph&#7843;n &#7913;ng v&#7899;i c&#7843;m x&uacute;c l&#7851;n l&#7897;n</h2>

<p>Vi&#7879;c h&#7841; c&#7845;p n&agrave;y &#273;&atilde; g&acirc;y ra m&#7897;t cu&#7897;c tranh lu&#7853;n gay g&#7855;t trong gi&#7899;i ti&#7873;n &#273;i&#7879;n t&#7917; Trung Qu&#7889;c, n&#417;i USDT chi&#7871;m &#432;u th&#7871; trong giao d&#7883;ch. <a href="https://x.com/PolskaCebula/status/1993709627499028925" target="_blank" rel="noopener">M&#7897;t nh&agrave; giao d&#7883;ch k&#7923; c&#7921;u &#273;&atilde; l&#432;u &yacute;</a> r&#7857;ng tin t&#7913;c ti&ecirc;u c&#7921;c v&#7873; Tether th&#432;&#7901;ng xuy&ecirc;n xu&#7845;t hi&#7879;n m&agrave; kh&ocirc;ng c&oacute; &#7843;nh h&#432;&#7903;ng th&#7921;c s&#7921;, th&#432;&#7901;ng g&#7847;n c&aacute;c &#273;i&#7875;m th&#7845;p c&#7911;a th&#7883; tr&#432;&#7901;ng. Quan &#273;i&#7875;m n&agrave;y cho th&#7845;y nhi&#7873;u ng&#432;&#7901;i v&#7851;n ho&agrave;i nghi v&#7873; c&aacute;c c&#7843;nh b&aacute;o &#7893;n &#273;&#7883;nh m&agrave; tr&#432;&#7899;c &#273;&oacute; kh&ocirc;ng th&agrave;nh hi&#7879;n th&#7921;c.</p>
<p>C&aacute;c nh&agrave; tham gia kh&aacute;c &#273;&atilde; b&agrave;y t&#7887; <a href="https://twitter.com/CryptoDaLan/status/1993847535262474433" target="_blank" rel="noreferrer noopener">lo ng&#7841;i v&#7873; t&aacute;c &#273;&#7897;ng ti&#7873;m t&agrave;ng</a>. S&#7921; lo l&#7855;ng ch&#7911; y&#7871;u xoay quanh vai tr&ograve; then ch&#7889;t c&#7911;a USDT nh&#432; l&agrave; h&#7841; t&#7847;ng quan tr&#7885;ng cho c&#7897;ng &#273;&#7891;ng ti&#7873;n &#273;i&#7879;n t&#7917; &#7893;n &#273;&#7883;nh nh&#432;ng b&#7883; c&#7845;m &#7903; Trung Qu&#7889;c. Nhi&#7873;u s&agrave;n giao d&#7883;ch ph&#7909;c v&#7909; ng&#432;&#7901;i d&ugrave;ng Trung Qu&#7889;c ho&#7841;t &#273;&#7897;ng d&#432;&#7899;i s&#7921; qu&#7843;n l&yacute; &#273;&#7883;a ph&#432;&#417;ng, t&#7841;o n&ecirc;n m&#7889;i quan h&#7879; s&acirc;u s&#7855;c gi&#7919;a c&aacute;c nh&agrave; giao d&#7883;ch v&agrave; c&aacute;c th&#7883; tr&#432;&#7901;ng giao d&#7883;ch USDT.</p>
<img style="height:400px;width:640px;" decoding="async" src="https://assets.beincrypto.com/img/IUt-uQekdUV_afwmgPOhFxSwnQo=/smart/f4cb2878a303439a96a96f25f451e2f9" alt="" class="wp-image-777427">&ldquo;N&#7871;u qu&#7843; bom n&agrave;y ph&aacute;t n&#7893;, th&#7883; tr&#432;&#7901;ng ti&#7873;n &#273;i&#7879;n t&#7917; ho&agrave;n to&agrave;n k&#7871;t th&uacute;c!&rdquo; Ngu&#7891;n: Weibo

<p>Trong l&uacute;c &#273;&oacute;, c&aacute;c thuy&#7871;t &acirc;m m&#432;u <a href="https://x.com/kai_jie43307/status/1993839764144026096" target="_blank" rel="noreferrer noopener">n&#7893;i l&ecirc;n</a> v&#7873; c&aacute;c cu&#7897;c t&#7845;n c&ocirc;ng c&oacute; ph&#7889;i h&#7907;p t&#7915; c&aacute;c &#273;&#7889;i th&#7911; c&#7841;nh tranh stablecoin USDC v&agrave; USD1. M&#7897;t s&#7889; nh&agrave; ph&acirc;n t&iacute;ch cho r&#7857;ng c&aacute;c &#273;&#7889;i th&#7911; n&agrave;y c&oacute; nhi&#7873;u l&#7907;i &iacute;ch t&#7915; vi&#7879;c l&agrave;m suy y&#7871;u s&#7921; th&#7889;ng tr&#7883; c&#7911;a USDT, &#273;&#7863;c bi&#7879;t khi s&#7921; gi&aacute;m s&aacute;t quy &#273;&#7883;nh to&agrave;n c&#7847;u c&agrave;ng tr&#7903; n&ecirc;n nghi&ecirc;m ng&#7863;t. <a href="https://x.com/Balder13946731/status/1993835218567135291" target="_blank" rel="noreferrer noopener">Nh&#7919;ng ng&#432;&#7901;i ch&#7881; tr&iacute;ch</a> &#273;&atilde; t&#7853;n d&#7909;ng c&#417; h&#7897;i n&agrave;y &#273;&#7875; qu&#7843;ng b&aacute; USDC nh&#432; l&agrave; t&#432;&#417;ng lai c&#7911;a stablecoins, v&#7899;i minh b&#7841;ch m&#7841;nh m&#7869; h&#417;n v&agrave; tu&acirc;n th&#7911; quy &#273;&#7883;nh t&#7889;t h&#417;n.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-underground-market-faces-stability-test">Th&#7883; tr&#432;&#7901;ng ng&#7847;m &#273;&#7889;i m&#7863;t v&#7899;i th&#7917; th&aacute;ch &#7893;n &#273;&#7883;nh</h2>

<p>Trung Qu&#7889;c &#273;&atilde; b&#7855;t &#273;&#7847;u c&#7845;m to&agrave;n di&#7879;n ti&#7873;n &#273;i&#7879;n t&#7917; t&#7915; n&#259;m 2017, l&ecirc;n &#273;&#7871;n &#273;&#7881;nh &#273;i&#7875;m v&agrave;o n&#259;m 2021 v&#7899;i l&#7879;nh c&#7845;m t&#7845;t c&#7843; c&aacute;c giao d&#7883;ch ti&#7873;n &#273;i&#7879;n t&#7917; v&agrave; khai th&aacute;c. Tuy nhi&ecirc;n, <a href="https://www.binance.com/en/square/post/18681954246666" target="_blank" rel="noopener">d&#7919; li&#7879;u cho th&#7845;y</a> h&#417;n 20 tri&#7879;u c&ocirc;ng d&acirc;n Trung Qu&#7889;c n&#7855;m gi&#7919; <a href="https://vn.beincrypto.com/institutions-bitcoin-trading-plan-before-next-halving/" target="_blank" rel="noopener">Bitcoin</a> t&iacute;nh &#273;&#7871;n n&#259;m 2024. C&aacute;c nh&agrave; giao d&#7883;ch s&#7917; d&#7909;ng c&aacute;c s&agrave;n giao d&#7883;ch &#7903; n&#432;&#7899;c ngo&agrave;i, c&aacute;c n&#7873;n t&#7843;ng giao d&#7883;ch qua qu&#7847;y v&agrave; c&aacute;c giao d&#7883;ch t&#432; nh&acirc;n &#273;&#7875; v&#432;&#7907;t qua c&aacute;c h&#7841;n ch&#7871; &#273;&#7883;a ph&#432;&#417;ng.</p>
<p>USDT &#273;&atilde; n&#7893;i l&ecirc;n nh&#432; l&agrave; m&#7897;t c&#7913;u c&aacute;nh cho th&#7883; tr&#432;&#7901;ng ng&#7847;m n&agrave;y, cho ph&eacute;p c&aacute;c nh&agrave; &#273;&#7847;u t&#432; Trung Qu&#7889;c chuy&#7875;n &#273;&#7893;i nh&acirc;n d&acirc;n t&#7879; sang token li&ecirc;n k&#7871;t v&#7899;i &#273;&ocirc; la th&ocirc;ng qua c&aacute;c k&ecirc;nh kh&ocirc;ng ch&iacute;nh th&#7913;c. C&aacute;c trang m&#7841;ng x&atilde; h&#7897;i nh&#432; Weibo v&agrave; WeChat cho th&#7845;y s&#7921; quan t&acirc;m li&ecirc;n t&#7909;c v&#7873; giao d&#7883;ch Bitcoin v&agrave; ti&#7873;n &#273;i&#7879;n t&#7917;, v&#7899;i s&#7921; ph&aacute;t tri&#7875;n nhanh ch&oacute;ng trong m&#7897;t s&#7889; c&#7897;ng &#273;&#7891;ng s&agrave;n giao d&#7883;ch. M&#7841;ng l&#432;&#7899;i n&agrave;y ph&#7909; thu&#7897;c v&agrave;o nh&#7919;ng ng&#432;&#7901;i c&oacute; &#7843;nh h&#432;&#7903;ng v&agrave; c&aacute;i g&#7885;i l&agrave; &ldquo;gi&aacute;o vi&ecirc;n t&iacute;n hi&#7879;u&rdquo; &#273;&#7875; h&#432;&#7899;ng d&#7851;n ng&#432;&#7901;i d&ugrave;ng v&#432;&#7907;t qua c&aacute;c r&agrave;o c&#7843;n quy &#273;&#7883;nh.</p>
<p>Quy m&ocirc; c&#7911;a ho&#7841;t &#273;&#7897;ng n&agrave;y gi&#7843;i th&iacute;ch t&#7841;i sao vi&#7879;c h&#7841; c&#7845;p t&#7915; S&amp;P l&#7841;i g&acirc;y ti&#7871;ng vang m&#7841;nh m&#7869; trong c&#7897;ng &#273;&#7891;ng ti&#7873;n &#273;i&#7879;n t&#7917; Trung Qu&#7889;c. B&#7845;t k&#7923; s&#7921; gi&aacute;n &#273;o&#7841;n n&agrave;o &#273;&#7889;i v&#7899;i USDT c&#361;ng c&oacute; th&#7875; k&iacute;ch ho&#7841;t m&#7897;t ph&#7843;n &#7913;ng d&acirc;y chuy&#7873;n trong m&#7897;t h&#7879; sinh th&aacute;i kh&ocirc;ng c&oacute; gi&#7843;i ph&aacute;p ch&iacute;nh th&#7913;c. C&aacute;c nh&agrave; giao d&#7883;ch &#273;&#7889;i di&#7879;n v&#7899;i r&#7911;i ro cao h&#417;n do t&iacute;nh ch&#7845;t kh&ocirc;ng ch&iacute;nh th&#7913;c v&agrave; kh&ocirc;ng &#273;&#432;&#7907;c &#273;i&#7873;u ti&#7871;t c&#7911;a th&#7883; tr&#432;&#7901;ng c&#7911;a h&#7885;.</p>


Các nhà giao dịch tiền mã hóa ở Trung Quốc hoảng loạn khi S&P hạ bậc Tether’s USDT

<p>S&amp;P Global Ratings &#273;&atilde; h&#7841; x&#7871;p h&#7841;ng &#7893;n &#273;&#7883;nh c&#7911;a stablecoin USDT c&#7911;a Tether t&#7915; m&#7913;c b&#7883; h&#7841;n ch&#7871; xu&#7889;ng m&#7913;c y&#7871;u, do c&oacute; s&#7921; gia t&#259;ng ti&#7871;p x&uacute;c v&#7899;i c&aacute;c t&agrave;i s&#7843;n bi&#7871;n &#273;&#7897;ng nh&#432; Bitcoin. &#272;&#7897;ng th&aacute;i n&agrave;y &#273;&atilde; l&agrave;m d&#7845;y l&ecirc;n cu&#7897;c tranh lu&#7853;n c&#259;ng th&#7859;ng tr&ecirc;n m&#7841;ng x&atilde; h&#7897;i Trung Qu&#7889;c, v&#7899;i c&aacute;c nh&agrave; giao d&#7883;ch b&agrave;y t&#7887; lo ng&#7841;i t&#7915; ho&agrave;i nghi &#273;&#7871;n ho&#7843;ng lo&#7841;n ho&agrave;n to&agrave;n.</p>
<p>Th&#7901;i &#273;i&#7875;m n&agrave;y r&#7845;t quan tr&#7885;ng &#273;&#7889;i v&#7899;i th&#7883; tr&#432;&#7901;ng ti&#7873;n &#273;i&#7879;n t&#7917; ng&#7847;m c&#7911;a Trung Qu&#7889;c. H&#417;n 20 tri&#7879;u ng&#432;&#7901;i tham gia ph&#7909; thu&#7897;c v&agrave;o USDT nh&#432; l&agrave; con &#273;&#432;&#7901;ng ch&iacute;nh &#273;&#7875; <a href="https://vn.beincrypto.com/will-dats-like-microstrategy-bitmine-fade-soon/" target="_blank" rel="noopener">giao d&#7883;ch t&agrave;i s&#7843;n k&#7929; thu&#7853;t s&#7889;</a>, ngay c&#7843; sau l&#7879;nh c&#7845;m v&agrave;o n&#259;m 2021 c&#7911;a n&#432;&#7899;c n&agrave;y.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-s-amp-p-flags-reserve-composition-concerns">S&amp;P c&#7843;nh b&aacute;o v&#7873; s&#7921; lo ng&#7841;i trong c&#417; c&#7845;u d&#7921; tr&#7919;</h2>

<p>B&aacute;o c&aacute;o ch&iacute;nh th&#7913;c t&#7915; <a href="https://www.spglobal.com/ratings/en/regulatory/article/stablecoin-stability-assessment-tether-usdt-s101659836" target="_blank" rel="noopener">S&amp;P Global</a> ph&aacute;t h&agrave;nh v&agrave;o th&#7913; T&#432;, nh&#7845;n m&#7841;nh nh&#7919;ng r&#7911;i ro &#273;&aacute;ng k&#7875; trong c&#7845;u tr&uacute;c d&#7921; tr&#7919; c&#7911;a Tether. <a href="https://vn.beincrypto.com/bitcoin-reclaims-90k-ethereum-3k-exchange-flows/" target="_blank" rel="noopener">Bitcoin</a> hi&#7879;n chi&#7871;m 5.6% USDT &#273;ang l&#432;u h&agrave;nh, v&#432;&#7907;t qua m&#7913;c d&#7921; tr&#7919; tr&#432;&#7899;c &#273;&acirc;y &#273;&atilde; c&ocirc;ng b&#7889; l&agrave; 3.9%. S&amp;P ch&#7881; ra s&#7921; thi&#7871;u minh b&#7841;ch v&agrave; gi&#7899;i h&#7841;n trong vi&#7879;c c&ocirc;ng b&#7889; t&agrave;i s&#7843;n d&#7921; tr&#7919;.</p>
<p>Theo b&aacute;o c&aacute;o t&#7915; qu&yacute; 1 &#273;&#7871;n qu&yacute; 3 n&#259;m 2025 c&#7911;a Tether, c&ocirc;ng ty n&agrave;y gi&#7919; 9,9 t&#7927; USD trong Bitcoin v&agrave; 12,9 t&#7927; USD trong <a href="https://vn.beincrypto.com/tether-gold-buying-new-risks/" target="_blank" rel="noopener">v&agrave;ng</a>. T&#7893;ng c&#7897;ng, c&aacute;c t&agrave;i s&#7843;n bi&#7871;n &#273;&#7897;ng n&agrave;y chi&#7871;m kho&#7843;ng 13% t&#7893;ng d&#7921; tr&#7919; h&#7895; tr&#7907; kho&#7843;n n&#7907; 174,4 t&#7927; USD. Tether duy tr&igrave; 181,2 t&#7927; USD trong d&#7921; tr&#7919; v&agrave; &#273;&atilde; t&#7841;o ra h&#417;n 10 t&#7927; USD l&#7907;i nhu&#7853;n trong ba qu&yacute; &#273;&#7847;u c&#7911;a n&#259;m 2025.</p>
<p>Ph&acirc;n t&iacute;ch c&#7911;a S&amp;P c&#361;ng nh&#7845;n m&#7841;nh s&#7921; ti&#7871;p x&uacute;c &#273;&#7871;n c&aacute;c t&agrave;i s&#7843;n r&#7911;i ro cao, nh&#432; c&aacute;c kho&#7843;n vay c&oacute; b&#7843;o &#273;&#7843;m, tr&aacute;i phi&#7871;u doanh nghi&#7879;p, v&agrave; kim lo&#7841;i qu&yacute;. C&#417; quan n&agrave;y l&#432;u &yacute; r&#7857;ng v&#7851;n c&ograve;n nh&#7919;ng l&#7895; h&#7893;ng trong th&#7921;c h&agrave;nh c&ocirc;ng b&#7889;, l&agrave;m d&#7845;y l&ecirc;n nghi ng&#7901; v&#7873; kh&#7843; n&#259;ng l&acirc;u d&agrave;i c&#7911;a USDT gi&#7919; m&#7913;c &#273;&#7891;ng &#273;&#7893;i 1-to-1 v&#7899;i &#273;&ocirc; la M&#7929;. Tuy nhi&ecirc;n, b&aacute;o c&aacute;o minh b&#7841;ch c&#7911;a Tether cho th&#7845;y vi&#7879;c n&#7855;m gi&#7919; Kho b&#7841;c M&#7929; h&#417;n 113 t&#7927; USD, chi&#7871;m ph&#7847;n l&#7899;n trong d&#7921; tr&#7919; c&#7911;a h&#7885;.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-chinese-traders-react-with-mixed-emotions">C&aacute;c nh&agrave; giao d&#7883;ch Trung Qu&#7889;c ph&#7843;n &#7913;ng v&#7899;i c&#7843;m x&uacute;c l&#7851;n l&#7897;n</h2>

<p>Vi&#7879;c h&#7841; c&#7845;p n&agrave;y &#273;&atilde; g&acirc;y ra m&#7897;t cu&#7897;c tranh lu&#7853;n gay g&#7855;t trong gi&#7899;i ti&#7873;n &#273;i&#7879;n t&#7917; Trung Qu&#7889;c, n&#417;i USDT chi&#7871;m &#432;u th&#7871; trong giao d&#7883;ch. <a href="https://x.com/PolskaCebula/status/1993709627499028925" target="_blank" rel="noopener">M&#7897;t nh&agrave; giao d&#7883;ch k&#7923; c&#7921;u &#273;&atilde; l&#432;u &yacute;</a> r&#7857;ng tin t&#7913;c ti&ecirc;u c&#7921;c v&#7873; Tether th&#432;&#7901;ng xuy&ecirc;n xu&#7845;t hi&#7879;n m&agrave; kh&ocirc;ng c&oacute; &#7843;nh h&#432;&#7903;ng th&#7921;c s&#7921;, th&#432;&#7901;ng g&#7847;n c&aacute;c &#273;i&#7875;m th&#7845;p c&#7911;a th&#7883; tr&#432;&#7901;ng. Quan &#273;i&#7875;m n&agrave;y cho th&#7845;y nhi&#7873;u ng&#432;&#7901;i v&#7851;n ho&agrave;i nghi v&#7873; c&aacute;c c&#7843;nh b&aacute;o &#7893;n &#273;&#7883;nh m&agrave; tr&#432;&#7899;c &#273;&oacute; kh&ocirc;ng th&agrave;nh hi&#7879;n th&#7921;c.</p>
<p>C&aacute;c nh&agrave; tham gia kh&aacute;c &#273;&atilde; b&agrave;y t&#7887; <a href="https://twitter.com/CryptoDaLan/status/1993847535262474433" target="_blank" rel="noreferrer noopener">lo ng&#7841;i v&#7873; t&aacute;c &#273;&#7897;ng ti&#7873;m t&agrave;ng</a>. S&#7921; lo l&#7855;ng ch&#7911; y&#7871;u xoay quanh vai tr&ograve; then ch&#7889;t c&#7911;a USDT nh&#432; l&agrave; h&#7841; t&#7847;ng quan tr&#7885;ng cho c&#7897;ng &#273;&#7891;ng ti&#7873;n &#273;i&#7879;n t&#7917; &#7893;n &#273;&#7883;nh nh&#432;ng b&#7883; c&#7845;m &#7903; Trung Qu&#7889;c. Nhi&#7873;u s&agrave;n giao d&#7883;ch ph&#7909;c v&#7909; ng&#432;&#7901;i d&ugrave;ng Trung Qu&#7889;c ho&#7841;t &#273;&#7897;ng d&#432;&#7899;i s&#7921; qu&#7843;n l&yacute; &#273;&#7883;a ph&#432;&#417;ng, t&#7841;o n&ecirc;n m&#7889;i quan h&#7879; s&acirc;u s&#7855;c gi&#7919;a c&aacute;c nh&agrave; giao d&#7883;ch v&agrave; c&aacute;c th&#7883; tr&#432;&#7901;ng giao d&#7883;ch USDT.</p>
<img style="height:400px;width:640px;"decoding="async" src="https://assets.beincrypto.com/img/IUt-uQekdUV_afwmgPOhFxSwnQo=/smart/f4cb2878a303439a96a96f25f451e2f9" alt="" class="wp-image-777427">&ldquo;N&#7871;u qu&#7843; bom n&agrave;y ph&aacute;t n&#7893;, th&#7883; tr&#432;&#7901;ng ti&#7873;n &#273;i&#7879;n t&#7917; ho&agrave;n to&agrave;n k&#7871;t th&uacute;c!&rdquo; Ngu&#7891;n: Weibo

<p>Trong l&uacute;c &#273;&oacute;, c&aacute;c thuy&#7871;t &acirc;m m&#432;u <a href="https://x.com/kai_jie43307/status/1993839764144026096" target="_blank" rel="noreferrer noopener">n&#7893;i l&ecirc;n</a> v&#7873; c&aacute;c cu&#7897;c t&#7845;n c&ocirc;ng c&oacute; ph&#7889;i h&#7907;p t&#7915; c&aacute;c &#273;&#7889;i th&#7911; c&#7841;nh tranh stablecoin USDC v&agrave; USD1. M&#7897;t s&#7889; nh&agrave; ph&acirc;n t&iacute;ch cho r&#7857;ng c&aacute;c &#273;&#7889;i th&#7911; n&agrave;y c&oacute; nhi&#7873;u l&#7907;i &iacute;ch t&#7915; vi&#7879;c l&agrave;m suy y&#7871;u s&#7921; th&#7889;ng tr&#7883; c&#7911;a USDT, &#273;&#7863;c bi&#7879;t khi s&#7921; gi&aacute;m s&aacute;t quy &#273;&#7883;nh to&agrave;n c&#7847;u c&agrave;ng tr&#7903; n&ecirc;n nghi&ecirc;m ng&#7863;t. <a href="https://x.com/Balder13946731/status/1993835218567135291" target="_blank" rel="noreferrer noopener">Nh&#7919;ng ng&#432;&#7901;i ch&#7881; tr&iacute;ch</a> &#273;&atilde; t&#7853;n d&#7909;ng c&#417; h&#7897;i n&agrave;y &#273;&#7875; qu&#7843;ng b&aacute; USDC nh&#432; l&agrave; t&#432;&#417;ng lai c&#7911;a stablecoins, v&#7899;i minh b&#7841;ch m&#7841;nh m&#7869; h&#417;n v&agrave; tu&acirc;n th&#7911; quy &#273;&#7883;nh t&#7889;t h&#417;n.</p>
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-underground-market-faces-stability-test">Th&#7883; tr&#432;&#7901;ng ng&#7847;m &#273;&#7889;i m&#7863;t v&#7899;i th&#7917; th&aacute;ch &#7893;n &#273;&#7883;nh</h2>

<p>Trung Qu&#7889;c &#273;&atilde; b&#7855;t &#273;&#7847;u c&#7845;m to&agrave;n di&#7879;n ti&#7873;n &#273;i&#7879;n t&#7917; t&#7915; n&#259;m 2017, l&ecirc;n &#273;&#7871;n &#273;&#7881;nh &#273;i&#7875;m v&agrave;o n&#259;m 2021 v&#7899;i l&#7879;nh c&#7845;m t&#7845;t c&#7843; c&aacute;c giao d&#7883;ch ti&#7873;n &#273;i&#7879;n t&#7917; v&agrave; khai th&aacute;c. Tuy nhi&ecirc;n, <a href="https://www.binance.com/en/square/post/18681954246666" target="_blank" rel="noopener">d&#7919; li&#7879;u cho th&#7845;y</a> h&#417;n 20 tri&#7879;u c&ocirc;ng d&acirc;n Trung Qu&#7889;c n&#7855;m gi&#7919; <a href="https://vn.beincrypto.com/institutions-bitcoin-trading-plan-before-next-halving/" target="_blank" rel="noopener">Bitcoin</a> t&iacute;nh &#273;&#7871;n n&#259;m 2024. C&aacute;c nh&agrave; giao d&#7883;ch s&#7917; d&#7909;ng c&aacute;c s&agrave;n giao d&#7883;ch &#7903; n&#432;&#7899;c ngo&agrave;i, c&aacute;c n&#7873;n t&#7843;ng giao d&#7883;ch qua qu&#7847;y v&agrave; c&aacute;c giao d&#7883;ch t&#432; nh&acirc;n &#273;&#7875; v&#432;&#7907;t qua c&aacute;c h&#7841;n ch&#7871; &#273;&#7883;a ph&#432;&#417;ng.</p>
<p>USDT &#273;&atilde; n&#7893;i l&ecirc;n nh&#432; l&agrave; m&#7897;t c&#7913;u c&aacute;nh cho th&#7883; tr&#432;&#7901;ng ng&#7847;m n&agrave;y, cho ph&eacute;p c&aacute;c nh&agrave; &#273;&#7847;u t&#432; Trung Qu&#7889;c chuy&#7875;n &#273;&#7893;i nh&acirc;n d&acirc;n t&#7879; sang token li&ecirc;n k&#7871;t v&#7899;i &#273;&ocirc; la th&ocirc;ng qua c&aacute;c k&ecirc;nh kh&ocirc;ng ch&iacute;nh th&#7913;c. C&aacute;c trang m&#7841;ng x&atilde; h&#7897;i nh&#432; Weibo v&agrave; WeChat cho th&#7845;y s&#7921; quan t&acirc;m li&ecirc;n t&#7909;c v&#7873; giao d&#7883;ch Bitcoin v&agrave; ti&#7873;n &#273;i&#7879;n t&#7917;, v&#7899;i s&#7921; ph&aacute;t tri&#7875;n nhanh ch&oacute;ng trong m&#7897;t s&#7889; c&#7897;ng &#273;&#7891;ng s&agrave;n giao d&#7883;ch. M&#7841;ng l&#432;&#7899;i n&agrave;y ph&#7909; thu&#7897;c v&agrave;o nh&#7919;ng ng&#432;&#7901;i c&oacute; &#7843;nh h&#432;&#7903;ng v&agrave; c&aacute;i g&#7885;i l&agrave; &ldquo;gi&aacute;o vi&ecirc;n t&iacute;n hi&#7879;u&rdquo; &#273;&#7875; h&#432;&#7899;ng d&#7851;n ng&#432;&#7901;i d&ugrave;ng v&#432;&#7907;t qua c&aacute;c r&agrave;o c&#7843;n quy &#273;&#7883;nh.</p>
<p>Quy m&ocirc; c&#7911;a ho&#7841;t &#273;&#7897;ng n&agrave;y gi&#7843;i th&iacute;ch t&#7841;i sao vi&#7879;c h&#7841; c&#7845;p t&#7915; S&amp;P l&#7841;i g&acirc;y ti&#7871;ng vang m&#7841;nh m&#7869; trong c&#7897;ng &#273;&#7891;ng ti&#7873;n &#273;i&#7879;n t&#7917; Trung Qu&#7889;c. B&#7845;t k&#7923; s&#7921; gi&aacute;n &#273;o&#7841;n n&agrave;o &#273;&#7889;i v&#7899;i USDT c&#361;ng c&oacute; th&#7875; k&iacute;ch ho&#7841;t m&#7897;t ph&#7843;n &#7913;ng d&acirc;y chuy&#7873;n trong m&#7897;t h&#7879; sinh th&aacute;i kh&ocirc;ng c&oacute; gi&#7843;i ph&aacute;p ch&iacute;nh th&#7913;c. C&aacute;c nh&agrave; giao d&#7883;ch &#273;&#7889;i di&#7879;n v&#7899;i r&#7911;i ro cao h&#417;n do t&iacute;nh ch&#7845;t kh&ocirc;ng ch&iacute;nh th&#7913;c v&agrave; kh&ocirc;ng &#273;&#432;&#7907;c &#273;i&#7873;u ti&#7871;t c&#7911;a th&#7883; tr&#432;&#7901;ng c&#7911;a h&#7885;.</p>
