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Have no idea why ycombinator is so salty towards anything crypto. Yes, tether was wrong when they said USDT was backed by “US Dollars”. But, the conclusion is
by arberx 6y ago
Have no idea why ycombinator is so salty towards anything crypto.
Yes, tether was wrong when they said USDT was backed by “US Dollars”. But, the conclusion is USDT is backed by something, the likes of which is probably a fractional reserve.
Case is resolved, with Tether admitting no fault.
- joshuakelly 6y agoIt's pretty amusing in the context of YC specifically, and less so HN, given that Coinbase is very likely to become the most valuable YC company to date.
- Clewza313 6y ago"Backed by something"! It sounds so reassuring when you phrase it that way.
- arberx 6y agoThat was the conclusion of the AG. Case is moot. Tether is definitely sketch, but it’s not this massive money laundering/conspiracy HN thinks it is.
- FireBeyond 6y ago"Partially backed by something" was indeed one of the conclusions of the AG in this limited scope investigation. Meanwhile, Tether is, was, claiming "Fully backed by USD!". And yet you are acting like the AG was supportive of Tether's claims, "Oh, yes, even the AG says so!"
- deleted 6y ago[deleted]