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Legally - yes, but when such company act as a semi-bank, costumers can reasonably expect some transparency, especially when rumors are going around.
by kbart 9y ago
Legally - yes, but when such company act as a semi-bank, costumers can reasonably expect some transparency, especially when rumors are going around.
- brndnmtthws 9y agoThey're under no obligation whatsoever.
- kbart 9y agoobligation != trust. I wouldn't trust private company that claims to back crypto currency 1-to-1 with USD, but doesn't back these claims with numbers in any way. The fact that they are not legally obligated to do so doesn't change that.
- brndnmtthws 9y agoWe're in agreement, but lack evidence is not evidence of wrongdoing.
- ceejayoz 9y agoIt's not proof, but "you just have to trust me" when talking about hundreds of millions of dollars is potential evidence of something shady.
- FireBeyond 9y agoAdd to which, "We have no obligation whatsoever to exchange your Tether for USD, and you have no right of redemption for this, either."
- alexasmyths 9y ago"They're under no obligation whatsoever." Then we can assume the money does not exist, and that it's an $800M fraud.