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There is no possible way that USDT is backed one-to-one. It just isn't. If it were, it would have a simple audit trail that they would publish. They don't becau

There is no possible way that USDT is backed one-to-one. It just isn't. If it were, it would have a simple audit trail that they would publish. They don't because it isn't. It's a scam that will at some point unravel, and everyone will lose their shirts because of "many good people" lol.

chrisco255 3y ago
They do post audits on the regular: https://tether.to/en/transparency/#reports https://tether.to/en/transparency/#reports
rewtraw 3y ago
It's possibly backed greater than 1:1. Tether likely cleaned up their operations over the past few years, but the "Tether Truthers" are still anxious about fraud. Even more transparency is welcome of course. > Cantor Fitzgerald CEO Howard Lutnick on CNBC: > "I'm a big fan of this stablecoin called Tether...I hold their treasuries. So I keep their treasuries, and they have a lot of treasuries. They're over $90 billion now, so I'm a big fan of Tether." https://twitter.com/leomschwartz/status/1734694800019063207 https://twitter.com/leomschwartz/status/1734694800019063207 https://tether.to/en/transparency/#usdt https://tether.to/en/transparency/#usdt > Tether also reported all time high excess reserves of $2.44 billion. https://www.theblock.co/post/230241/tether-attestation-report-q1-2023 https://www.theblock.co/post/230241/tether-attestation-repor...