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That's different than saying they have zero dollars, like the sibling comment that the parent was probably alluding to. In fact, there have been ~$20 billion in
by lend000 4y ago
That's different than saying they have zero dollars, like the sibling comment that the parent was probably alluding to. In fact, there have been ~$20 billion in withdrawals during the last few months as the market has turned bearish and the market is reacting to a likely collapse below market capitalization in Tether's non-dollar-backed assets [0]. Are they backed 100%? Probably not during bear markets because they seem to be doing discretionary trading with deposit money. But the options aren't limited to "they have $0" and being 100% backed.
[0] https://coinmarketcap.com/currencies/tether/ https://coinmarketcap.com/currencies/tether/
- cageface 4y agoSerious skeptics of Tether are not claiming they have $0. Just much less than they claim to have.
- tsimionescu 4y agoSure, but the content that started this thread is explicitly complaining about people who do claim that Tether has $0 backing it - of which there are a few in this thread. The OP was not complaining that people think Tether is not well enough backed, they were complaining that some are "certain" that it is not backed at all - the least informed being the most certain.