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> Tether is backed. It isn’t a fraud. Both of these can be true. But it is also true that Tether cannot be redeemed for USD (owning USDT does not entitle you t
by CryptoGhost 6y ago
> Tether is backed. It isn’t a fraud.
Both of these can be true. But it is also true that Tether cannot be redeemed for USD (owning USDT does not entitle you to exchange for USD) and it has never undergone a hard audit. So while the entire project can be a good faith effort its also entirely possible its worth a lot less than $1USD for 1 USDT
- seibelj 6y agoYes you can! My company did! I know many companies that do! It’s just limited to offshore orgs that pass compliance and redeem large blocks at a time. Redemption isn’t for retail.
- CryptoGhost 6y agoThe point being this is completely discretionary. It's not comparable to say Gold Certificates in the USA where it gave you title to actual gold coins you could redeem. Holding USDT gives you title to nothing other than USDT itself.