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Tether and UST are not comparable. Tether is a token you can redeem for USD with a questionable past. UST is a project started by a scammer. An algorithmic stab
by influxmoment 4y ago
Tether and UST are not comparable. Tether is a token you can redeem for USD with a questionable past. UST is a project started by a scammer. An algorithmic stablecoin. A Ponzi uses a Ponzi to prop up the price. And then head scammer used personal money to keep the charade going
- ttul 4y agoIf Tether isn’t a Ponzi scheme, why have they never subjected themselves to a real audit on their reserves? You know the one thing that you’ll find in common with every Ponzi scheme? There is no auditing.
- beambot 4y agoPentagon has never passed an audit, and the Fed manages to have giant ($Trillion) "secret" activities that manage not to hit their audits [1]. Are they a Ponzi too? [1] https://theweek.com/articles/479867/federal-reserves-breathtaking-77-trillion-bank-bailout https://theweek.com/articles/479867/federal-reserves-breatht...
- influxmoment 4y agoStill they are very different projects. UST is transparently a scam with slick marketing while Tethers real financial state is unknown but claims a plausible redemption scheme