4 ms·
Stablecoins have counter-party risk. USDT is run by folks under investigation by the DOJ for bank fraud and was at various times not actually backed (sometimes
by arcticbull 5y ago
Stablecoins have counter-party risk. USDT is run by folks under investigation by the DOJ for bank fraud and was at various times not actually backed (sometimes by anything). And the scuttlebutt is USDC is currently under investigation by the SEC. [1]
[1] https://ca.finance.yahoo.com/news/public-filing-from-crypto-company-circle-reveals-ongoing-sec-investigation-134752992.html https://ca.finance.yahoo.com/news/public-filing-from-crypto-...
- hackingforfun 5y agoI agree. I intentionally don't hold stablecoins. As I mentioned I'd rather hold actual cash. One nice thing about stablecoins is they can be transferred around the world 24/7, and there are various high APRs for lending out stablecoins (not without risk, of course, there's nothing like FDIC insurance on those). Anyway, I'm surprised how much trust the crypto community puts in Tether.