4 ms·

All those guys are going to end up in prison. It’s fraud after fraud - biggest one being Tether. It’s just impressive how long it all takes.

• realusername 3y ago
  I'm also surprised Tether hasn't imploded yet, it's opacity must have saved it in the short term
  • tim333 3y ago
    There's nothing that inherently unsustainable in Tether's basic model. Take in US$, issue tokens matching them and keep the interest on the US$. Their main problem is money laundering regs which is why they have to be opaque and offshore.
    • realusername 3y ago
      > Take in US$, issue tokens matching them and keep the interest on the US$. Well, the issue is that they are not doing your first step, instead they are printing new ones as they want. There's not a single audit either.
    • TheAlchemist 3y ago
      Plot twist: They don't take in US$ ! At least not legal US$, and not anywhere near the amount they claim they have. It has been proven beyond reasonable doubt already multiple times that they are lying about the supposed composition of their 'assets'.