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rereead the article its 40% of Tether issued on Tron and you have to understand that Alameda was one of the licensced brokers of USDT. Institutions could mint
by Jommi 4y ago
rereead the article
its 40% of Tether issued on Tron
and you have to understand that Alameda was one of the licensced brokers of USDT. Institutions could mint USDT from Tether via Alameda by using dollars. This is not a loan. Its a 1:1 conversion.
- xwolfi 4y agoYup, 1:1 conversion: 1 USD fresh from the fed goes directly to sleep into deltec's savings account and a beautiful USDT is born. This system is as pure and honest as the virgin mary and there's no way USDT could have been given against shaky IOUs.