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Tether is printed and given out at will to buddies of scammers who run it. "Hey Paolo, can you help me with 100M as my exchange is in trouble?", " Sure thing,
by bluecalm 4y ago
Tether is printed and given out at will to buddies of scammers who run it. "Hey Paolo, can you help me with 100M as my exchange is in trouble?", "
Sure thing, just write an IOU and I got you". Now Tether is "backed by commercial paper" and there is 100M of it in circulation to prop crypto.
And if you think my language isn't appropriate, Tether is run my literal scammers: a proven financial fraud and an online poker cheat. Chances of it being even semi legit operation are zero.