The author might be a zealous sceptic of crypto in general and I lean more on the crypto-optimist side but Tether well-earned the scepticism. It honestly worrie

The author might be a zealous sceptic of crypto in general and I lean more on the crypto-optimist side but Tether well-earned the scepticism. It honestly worries me to no end that people keep cashing out in USDT, because it is non-auditted, no proof of sufficient backing or collateralisation. The last audit Tether had was in 2018 I believe, and then it was found they are only 70% backed by equivalent fiat [1]. God knows how much unbacked USDT they printed in between then and now. Other stablecoins are much safer: USDC is more than 100% backed by fiat USD [2] and is audited by several firms at set intervals. DAI v2.0 (MCD) is also over collateralized by a large margin. I personally prefer DAI for my stablecoin needs. Tether has also been rife with scandal [3]. I hate to see so many DeFi projects relying on USDT. People need to start to exclude Tether because they resist transparency and accountability, completely antithetical to the cryptocurrency ethos. [1] https://www.bloomberg.com/news/articles/2019-04-30/tether-says-stablecoin-is-only-backed-74-by-cash-securities https://www.bloomberg.com/news/articles/2019-04-30/tether-sa... [2] https://news.bitcoin.com/tethers-stablecoin-dominance-drops-below-80-as-audit-controversy-lingers-on-on/ https://news.bitcoin.com/tethers-stablecoin-dominance-drops-... [3] https://cryptopotato.com/the-downfall-of-a-stablecoin-tethers-long-history-of-scandals/ https://cryptopotato.com/the-downfall-of-a-stablecoin-tether...