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If Tether were in fact receiving real USD to support the billions in USDT it keeps issuing, then why hasn't it handed over financial docs to NYAG, which is inve
by amycastor 6y ago
If Tether were in fact receiving real USD to support the billions in USDT it keeps issuing, then why hasn't it handed over financial docs to NYAG, which is investigating it for fraud? Why has it not had a third-party audit? Why does it keep printing USDT in larger and larger numbers (a sign that the real $$ may be disappearing from the system)? Why don't we see a similar growth in other regulated stablecoins?
- darawk 6y agoBecause their banks keep shutting down their accounts. They've been playing whack-a-mole with regulators for a long time, and they probably view the NYAG's request as a backdoor way to find out where and how they're banking in order to shut them down.
- 35fbe7d3d5b9 6y agoSo nobody knows if Tether is backed because: * it isn't and Tether wants to keep people in the dark * it is, but a hammer is ready to fall that probably involves OFAC freezing funds Any other options I'm missing? Because neither of those look good.
- darawk 6y agoPeople have been saying this for years now. Not only has nothing materialized, but the price has barely ever deviated from the 1:1 peg.