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Just because they held appropriate balance at one point in time doesn't mean they are actually sitting on dollar reserves corresponding to tethers. They could h
by bronzeage 5y ago
Just because they held appropriate balance at one point in time doesn't mean they are actually sitting on dollar reserves corresponding to tethers. They could have borrowed to reach these numbers for the report.
The current state is still that the majority of Bitcoin volume comes from tether, and these tethers aren't regulated and required to exist the same way dollars traded for stocks are required to exist. They already mixed tether reserves with other funds in the past, don't trust them to suddenly stop.
- shlant 5y agoAgain, you can have rational reasons for not trusting tether - and I don't necessarily disagree - but the fact is that people have been trying to "expose" it for years with no success. The NYAG didn't find anything substantive, and neither has anyone before them. In the crypto sphere that builds trust and proves resiliency. With every piece of FUD about tether that comes and goes, the chance of it all coming crashing down gets smaller and smaller. Nothing you have stated is a new accusation. They have been around as long as tether and the entire ecosystem has only gained more and more legitimacy.