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It’s different because Tether claims to hold 1 USD for each Tether. A claim that should be verifiable. The value of sh*tcoins is just a function of their futur
by tppiotrowski 5y ago
It’s different because Tether claims to hold 1 USD for each Tether. A claim that should be verifiable.
The value of sh*tcoins is just a function of their future resale value.
- aeternum 5y agoThey claim to hold assets with values equivalent to 1 USD / Tether. Different than holding the USD directly. They provide a more detailed breakdown here: https://tether.to/wp-content/uploads/2021/08/tether_assuranceconsolidated_reserves_report_2021-06-30.pdf https://tether.to/wp-content/uploads/2021/08/tether_assuranc... About half in commercial paper and CODs. A quarter in t-bills. 2B in unspecified "digital tokens".
- jfrunyon 5y agoYes, now that they've been caught claiming to hold 1 USD per Tether without doing so, they claim it's only stuff worth (in their estimation!) 1 USD per Tether. And still refuse to provide any evidence that they are doing so. Please stop defending them.
- aeternum 5y agoI generally agree, not sure why anyone would choose to use Tether when their are alternatives like USDC. However I still think it is important to properly represent Tether's current claims.
- coolspot 5y agoDrug/arms/human trafficking operations can have easier time cashing hundreds of millions via shady Tether than US-based audited and KYCed USDC.