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The Friedman memo showed they were 1-1 cash/usdt back in September, and they've stated clearly it's institutional money coming in. In fact, that's exactly what
by dahdum 9y ago
The Friedman memo showed they were 1-1 cash/usdt back in September, and they've stated clearly it's institutional money coming in. In fact, that's exactly what I would expect for large buyers trying to spread their purchases across exchanges who don't use USD directly.
"I agree that if no one was able to get fiat in or out of Tether and USDT were still being issued that would be a huge problem. As it stands, however, institutional customers are able to deposit USD to Tether, and this is how USDT is being issued."
https://www.reddit.com/r/BitcoinMarkets/comments/7fsfwl/daily_discussion_monday_november_27_2017/dqfwq33/ https://www.reddit.com/r/BitcoinMarkets/comments/7fsfwl/dail...
- wils1245 9y agoIf you believe them you must believe that they've received $250 million dollars in the month of November alone. https://coinmarketcap.com/currencies/tether/ https://coinmarketcap.com/currencies/tether/ This on a daily pattern that looks like a step function. Where could this money possibly be coming from? Anonymous millionaires?
- dahdum 9y agoHedge funds, family offices, etc.. $250M isn't all that much. Arrington is trying to raise a $100M crypto fund, Novogratz is raising a $500M one.
- loader 9y agoTheir market cap has gone up $68 million in the last 12 hours. If it's truly pegged doesn't that mean they've taken in $68M in that span of time?
- deorder 9y agoAnd he also said the following: https://pbs.twimg.com/media/DPr4aSpX4AEut2d?format=jpg https://pbs.twimg.com/media/DPr4aSpX4AEut2d?format=jpg
- dahdum 9y agoYes, though that was prior to his clarification. They haven't removed any of the many claims on the website assuring a 1-1 backing, they did an audit, and the issuance makes sense given the situation. Doesn't seem all that likely to be a scam to me. Of course, I could be wrong.
- BLanen 9y agoThe Friedman memo is a joke.