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Hmm, so both USDC and USDT have issues with the same claim? Before I did some research, and it seemed like USDC was more trustworthy of the two. Looks like in r

Hmm, so both USDC and USDT have issues with the same claim? Before I did some research, and it seemed like USDC was more trustworthy of the two. Looks like in reality this might not be the case.

kristofferR 5y ago
The difference between the organizations is pretty massive. If I recall correctly, the Tether organization is extremely opaque, run by former convicted scammers. USDC on the other hand is run by one some the biggest and most trusted crypto companies in the world, and will to go public on the New York Stock Exchange soon.
- relax88 5y ago
  The difference between the orgs is massive, but the practical functioning of these stablecoins isn’t. If you can’t see how stablecoins backed by “commercial paper” (Mostly IOUs from crypto exchanges) is a bad idea I’m not sure what to tell you. I mean we have a name for when a company does this with actual dollars and it’s called a bank, and we regulate and license those.
  - alisonkisk 5y ago
    > (Mostly IOUs from crypto exchanges) How do you know this is true? For me the biggest red flag is that these "stable"coin companies don't make their escrow books public. There is zero reason to keep it secret, except fraud.
- jimbob21 5y ago
  Coinbase is already on NYSE, Circle to follow. Agreed, much more legitimate than bitfinex.
  - smachiz 5y ago
    NASDAQ