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Except according to Tether, "All Tether tokens (USD₮) are pegged at 1-to-1 with a matching fiat currency and are backed 100% by Tether's reserves." [0] https:/
by andirk 4y ago
Except according to Tether, "All Tether tokens (USD₮) are pegged at 1-to-1 with a matching fiat currency and are backed 100% by Tether's reserves."
[0] https://tether.to https://tether.to
But other than that, yeah.
- baobabKoodaa 4y agoIf you read further, you will find that Tether is not currently claiming that "reserves" would equal "dollars". This used to be different, though, so your parent poster is still wrong (though they are wrong due to a different reason than the one you spelled out).
- elif 4y agoReread your quote. It says the value is "pegged to fiat" AND "backed 100% by reserves" Nowhere does it say every tether is backed by a $1 reserve. You're falling for their slick scam words. (Around 2017 I did a lot of research into tether, even reading their entire legal terms)