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The ledger wouldn't stop the abuse at all. USDT is a ledger. The ledger didn't change at all when Binance's public position moved from "every USDT is backed wit
by notahacker 4y ago
The ledger wouldn't stop the abuse at all. USDT is a ledger. The ledger didn't change at all when Binance's public position moved from "every USDT is backed with an actual dollar" to "well we have a reserve of dollars and some... er ... other assets", and nothing about the ledger tells you if Binance ever had the dollars in the first place.