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They've already revealed they're a scam, by admitting they're backed by "commercial paper".
by lozenge 4y ago
They've already revealed they're a scam, by admitting they're backed by "commercial paper".
- simmerup 4y agoThe fact that they so widely advertised themselves as being back 1:1 with USD and then admitted they were lying ruins all their credibility in my eyes. In addition, I’m surprised so many people defend them by effectively saying ‘this time they’re not lying’ — with no evidence. All I can see it as is wishful thinking than sound judgement.
- headsoup 4y agoThey defend them because they have a vested interest in the whole pyramid not collapsing.
- aaaaaaaaata 4y agoOn the contrary, many of us (as technologists) have a vested interest in shaking out these gambler-creating factions so the rest of the tech may flourish. Been waiting for Tether to take a K.O. punch for some time, as a cryptocurrency maximalist (eventualist?).
- matthewdgreen 4y agoAccording to Tether's disclosures, they have been of the largest owners of commercial paper in the world. And yet nobody has seen them in the US markets. https://www.ft.com/content/342966af-98dc-4b48-b997-38c00804270a https://www.ft.com/content/342966af-98dc-4b48-b997-38c008042...