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Why does Tether need the money? The tokens aren't redeemable for USD, are they?
by windows_tips 8y ago
Why does Tether need the money? The tokens aren't redeemable for USD, are they?
- talltimtom 8y agoI think legally they are in the clear, but if what I suspect is true and they gambled the backing money on the crypto markets and now have less than the amount of tether circulating, a discovery of that fact will likely instantly evaporate any liquid assets they have, and they are likely trying like hell to get into the green so they can do an audit and start pulling in more money. Assuming I’m right, it’s kind of like if you somehow managed to loan a couple of billion dollars and then lost 10%, you still have billions of liquid funds available to you, so what do you do? Declare bankruptcy or start putting chunks of it on black hoping to score a potential million dollar surplus for yourself before you close the loan?
- jsmeaton 8y agoThat’s called fraud.
- jellicle 8y agoTether asserts that they are redeemable for USD.