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Tether definitely seems very fishy, but they've been around for a pretty long time. People were saying this exact thing in the 2017 bull market but then there w
by woah 6y ago
Tether definitely seems very fishy, but they've been around for a pretty long time. People were saying this exact thing in the 2017 bull market but then there was a savage bear market the next year (~10x BTC price drop) and Tether is still fine. What is the event that will reveal that the emperor has no clothes?
- deleted 6y ago[deleted]
- TazeTSchnitzel 6y agoThe New York Attorney General is currently on Tether's case and its latest deadline is 15 January 2021 for Tether to produce documents, but that deadline may slip again…
- FireBeyond 6y agoFor the longest time, Tether claimed a 1:1 backing. They referenced audits that didn't exist, and so forth. Finally, their own lawyer admitted in a court briefing that they had less than 74%. No-one has heard from their CEO or CFO in over a year. Next significant court date is next Friday, 1/15.
- BillinghamJ 6y agoMust say, I'm surprised it's not more like 10%, or 1%
- earthtolazlo 6y agoThat was the number provided by Bitfinex’s lawyers at a time when there were about 20 billion fewer Tethers in existence. I’d be shocked if it was over 10%. But since they won’t do an audit, we’ll only find out after everything collapses.