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> Tether just froze a bunch of funds. Like a bank. Or PayPal. One of the most repeated slams against TradFi is the “PayPal locked my funds! Money belongs to the
by xur17 5y ago
> Tether just froze a bunch of funds. Like a bank. Or PayPal. One of the most repeated slams against TradFi is the “PayPal locked my funds! Money belongs to the people! Self sovereignty!” But we’ve seen time and time again with the ETH fork, Tether freezings (they’ve had multiple), that we end up right back at these processes.
Tether is one of many assets on Ethereum, each with their own properties. Some are centralized, some are decentralized, some are stable, some aren't, etc. It's about choice at the end of the day, and crypto actually gives you this choice vs paypal or your bank.
- qeternity 5y agoETH was forked because of a much smaller hack. So the most decentralized, stable choice in Etherium (the layer 1 itself) isn’t immune.