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That seems most likely. They thought that it doesn't matter if they back these tethers with BTC because BTC is a better investment than the UDS anyways. Once th
by bob33212 5y ago
That seems most likely. They thought that it doesn't matter if they back these tethers with BTC because BTC is a better investment than the UDS anyways. Once they went down that path they had no way of getting out other than printing more tether to prop up BTC when BTC dropped.