This topic will just never die. But who am I kidding? I do love talking about it. Lol. Here are some of my thoughts of what is reasonable about this conspiracy and what is just stupid… Tether Has a shady past. This I do not deny at all. I think it is reasonable to have suspicions about it given its shady past. Again, I viewed this opinion as very reasonable if not overly cautious. An objective fact is that tether has survived and continue to honor all redemptions in various crypto cycles and panics. This includes the bursting of the bubble in 2017, the Covid crash in 2020, and the crypto bear market of 2022. If there really wasn’t assets backing the coins, why haven’t they been exposed during these crisis like everyone else? What else would need to happen for them to be exposed then? I totally agree with @Baron general opinions here. Basically that tether was shady in the beginning, like let’s be honest all of crypto at that time. But has since cleaned up their act… Before people start yelling at me, I don’t think they cleaned up their act out of the goodness of their heart. I just think when you make essentially risk free billions of dollars of profit every quarter, it’s a lot easier to smooth over past misconduct. but by far the part of this theory that is the most brain dead is the huge leap that if tether is really a fraud that means the price of bitcoin should be materially lower. Said Another way, the price of bitcoin and its over $1 trillion market cap is primarily the consequence of printing un backed tether. As I have stated many times in the past, this makes no sense on any front. Stablecoins like tether and bitcoin could not be more different. Nobody is going to go buy bitcoin but instead buys stablecoins. They do not compete for the same use case in any world. Furthermore, while bitcoin is a unique one of one asset that cannot be replicated, tether is just a stable coin. A stable coin is just a digital representation of Fiat money. Bottom line is there is nobody stopping anybody from making another stable coin and if tether would go away then another stable coin would simply take its place.
What is more surprising how people , who once were pro-Tether now are like, ,,Well... '' Might be just another wave of trash news, to push down the price.
No. https://www.liquidloans.io/vault/research/stablecoins/what-is-usdt https://cryptoslate.com/you-can-redeem-tether-usdt-11-on-tether-to-but-theres-a-catch/
LOL About Us tab shows 21 people, 2 with last names. Any reason you can think of for that? And might they have an interest in "exposing" Tether?
The information from the cryptoslate.com article is consistent with the other link I posted as well as that on Tether's web site. And https://cryptoslate.com/about/ shows no reason why they would want to falsely discredit Tether.
Not every joe, jane and mr. sixpack and ms doe can redeem from Tether for fiat fuggedaboutit unless you have 8 figures $ networth, just exchange the usdt for fiat at the exchange, the costs are minimal even for $1M worth of usdt This is not unique to usdt, this is the same for usdc Tether and usdc do not deal with peasants However, in 2022, a bunch of hedgefunds and bankers and SBF got together to bring Tether down by accumulating $20B worth of usdt and redeemed them within a week Tether had no problems, gave them $$$$ and they failed in their Tether shorts positions Cantor Fitzgerald even discussed it on a video I posted on another thread as Tether and Cantor were laughing their ass off at their failure to bring Tether down By the way, he also made fun of how incompetent usdc is for being caught up with unsecured, uninsured $3B deposit at a failed bank, Tether is the real deal, no fraud, over collateralized, owns gold owns bitcoin above and beyond the $120B 1-1 requirements Tether truthers will be forever spreading fud and be on the sidelines as bitcoin hits 6 figures and 7 figures and higher....
All this link says is a history of Tether (including thier admitedly shady past)??? Tether still survived all the bear markets and crashes and nobody who wanted to redeme got screwed. That is still true