Over-the-counter cryptocurrency platform Cumberland has not ruled out that the next asset in danger of collapse will be one of the leading stablecoins.

The next big shoe to drop will be the first 2 stable coins. If that happens, there will be generations of buying opportunities in BTC and ETH. Otherwise, the market will likely calm down for a while. –@jvb_xyz

– Cumberland (@CumberlandSays) 14 June 2022

“The next negative event will be the collapse of the first 2 stablecoins. If this happens, there will be opportunities to buy in BTC and ETH. If not, the market will probably calm down for a while,” Cumberland said.

At the time of writing, USDT ($71.18 billion) and USDC ($7.8 billion) occupy the top two lines in the stablecoin rankings by capitalization.

Cumberland also noted that the OTC chart is currently experiencing “the biggest flow of the year.”

After a period of relative calm, we are now seeing the biggest flows of the year on our OTC table. This is somewhat unexpected and likely a sign that we are approaching a local bottom or bottom.

🧵👇

– Cumberland (@CumberlandSays) 14 June 2022

“This is somewhat unexpected and likely points to a local bottom or bottom approach,” Yarn says.

Created by DRW in 2014, Cumberland is said to be the largest liquidity provider in the crypto industry thanks to its USDT Tether issuer. In 2021, media reported that the market maker and Alameda Research had reclaimed more than two-thirds of the total stablecoin issuance.

Chris Berniske, partner at venture capital firm Placeholder, stated in the comments that he follows USDT closely. He described the probability of this stablecoin’s collapse as low, but admitted he was “more concerned than ever” about the current situation.

I keep giving $USDT Failure is unlikely, but I admit I’m more worried about this than I’ve ever been.

Tether is used to close FUD immediately.

– Chris Burniske (@cburniske) 15 June 2022

“The only reason I’m mentioning this right now is because I get pings too often to ignore. And if Risk = Probability x Outcomes, if that happens, the consequences here are extremely serious,” Berniske wrote.

On May 12, USDT price tested the $0.94 level during the market turbulence, while USDC and BUSD looked relatively stable. Tether CTO Paolo Ardoino said the company has sufficient reserves to buy back all assets at a 1:1 ratio to the US dollar.

Recall that on June 13, Tether stated that adverse events with Celsius did not affect the financial stability of the USDT issuer.