The scam is Tether owns a brokerage that they used buy other crypto with their barely backed, worth much less than advertised stable coin which they falsely cla

The scam is Tether owns a brokerage that they used buy other crypto with their barely backed, worth much less than advertised stable coin which they falsely claim is worth exactly the same as USD. (Tether also pretended that they weren’t affiliated with Bitfinex, the aforementioned brokerage) Consequently, they’re artificially pumping the cryptos that they are buying. Once they artificially pump crypto, they then dump it. They’ve probably pumped and dumped several times now People are guessing that they’re doing this to regain reserves that were stolen by an untrustworthy bank that they previously used. Ie they were probably telling the truth in the past before their money was stolen. It’s similar to what happened with Mt Gox. What’s impressive to me is how the people at Tether are somehow 8 steps ahead of regulators, whereas Mt Gox just failed overnight. Imo regardless of Tether fuckery, I believe that the Ethereum platform has utility beyond speculation