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Why does Tether always come up in HN crypto threads? I'm surprised it's still around after it was revealed they're running a fractional reserve. When I worked i
by reidjs 6y ago
Why does Tether always come up in HN crypto threads? I'm surprised it's still around after it was revealed they're running a fractional reserve. When I worked in the industry Tether was a joke and there were many alternatives that are backed 1:1.
- aent 6y agoBecause they keep printing more and more unbacked money to the point that they are the 3d largest crypto currency right now and almost all crypto trading happens in tether, not actual dollars, so it's unclear how much actual money there is in that market and how much of it is fake dollars.
- mam2 6y agoIt's basically the bitcoin for crypto.. and its constant actual monetary difference with usd is the biggest cause of the crypto market cap inflation.