> but inevatably greed kicks in and you start thinking what if you minted coins without the backing. Yet another tired implication of Tether printing coins wit

> but inevatably greed kicks in and you start thinking what if you minted coins without the backing. Yet another tired implication of Tether printing coins without backing, so let's break down the NYAG's announcement of Tether's fine. The fine was for: 1. Buying a bond (= lending out their backing) in a related party transaction, and 2. Not updating their customers that Tether backing had changed from 100% cash into a mix of cash+bonds. The guy with the handle bitfinex'd was an extremely prolific screamer about fraudulently unbacked tether and folks seemed to believe him. If you still believe him, it now means you believe that NYAG Leticia James looked at Tether's books and gave them a pass on fraud in order to collect a few million dollars in a fine. Not bloody likely.