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US officials should investigate them for fraud. Their collateral is clearly worth much less than the total value of Tethers created by the company, and at this
by xiphias2 5y ago
US officials should investigate them for fraud.
Their collateral is clearly worth much less than the total value of Tethers created by the company, and at this point we'are talking about tens of billions of dollars.
,, stablecoin market that is currently, pretty much unregulated'' -- This is not true for all stablecoins though, for example Circle is a regulated company, and USDC is regulated by US law.
- dosenbrot 5y agoThey did. https://ag.ny.gov/press-release/2021/attorney-general-james-ends-virtual-currency-trading-platform-bitfinexs-illegal https://ag.ny.gov/press-release/2021/attorney-general-james-... Also: https://www.singlelunch.com/2021/05/19/the-tether-ponzi-scheme/ https://www.singlelunch.com/2021/05/19/the-tether-ponzi-sche...
- qeternity 5y agoThat’s NY state, not the US. Things will get real when SDNY get involved.